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| | Building Societies (Funding) and Mutual Societies (Transfers) Bill
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| | | Annual report to Parliament |
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| | To move the following Clause:— |
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| | | ‘The Chancellor of the Exchequer must lay before Parliament an annual report on |
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| | | the performance and funding position of financial mutuals and the comparative |
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| | | performance of financial non-mutuals to assist Parliament in the monitoring of |
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| | | the implementation of this Act.’. |
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| | Page 2, line 4 [Clause 1], leave out from ‘instrument’ to ‘House’ and insert ‘subject |
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| | to annulment in pursuance of a resolution of either’. |
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| | Page 2, line 23 [Clause 1], leave out from ‘instrument’ to ‘House’ and insert |
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| | ‘subject to annulment in pursuance of a resolution of either’. |
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| | Page 2, line 32 [Clause 2], at end insert ‘and after satisfying those liabilities any |
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| | surplus assets are distributed in accordance with the society’s rules.’. |
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| | Page 3, line 7 [Clause 2], leave out from ‘instrument’ to ‘House’ and insert ‘subject |
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| | to annulment in pursuance of a resolution of either’. |
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| | Page 3, line 9 [Clause 2], at end insert— |
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| | | ‘(2) | In Schedule 2 to the Building Societies Act 1986 (c.53) after paragraph 3(4) |
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| | | “(4A) | Rules about matters under item 14 of the Table in sub-paragraph (4) |
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| | | above must ensure that surplus assets are distributed in accordance with |
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| | Title, line 2, after ‘members;’ insert ‘to provide for the alteration of priorities on |
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| | dissolution and winding up of a building society;’. |
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| | | Bill read the third time, and passed. |
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