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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 43

Minimum notice of withdrawal.

43.(1) Subject to the provisions of this section, a building society, or any
two or more building societies, may enter into arrangements with a person
carrying on the business of insurance, for the purpose of making funds
available to meet losses incurred by persons investing in, or lending money
to, a building society which is a party to the arrangements; and any two or
more building societies may enter into any other kind of arrangements for that
purpose.

(2) Subject to the provisions of this section, a building society shall have
power to make contributions under arrangements made in accordance with this
section.

(3) Arrangements under this section may in particular provide for the vesting
of a fund in trustees appointed under the arrangements.

(4) Arrangements under this section shall not come into force, and no
contributions shall be made thereunder by a building society, until they have
been approved by the registrar; and the registrar shall not approve
arrangements under this section unless they provide that any variation of
their terms shall also require the approval of the registrar.

© 1967 Crown Copyright

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