Protective Provisions for Specially Formed Successors

Part of Orders of the Day — Building Societies Bill – in the House of Commons am 5:30 pm ar 17 Mawrth 1997.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of John Butterfill John Butterfill , Bournemouth West 5:30, 17 Mawrth 1997

Does my hon. Friend accept that there is already an unevenness? The converting societies have been restrained from engaging in a range of activities for the whole of their existence, whereas the organisations for which they may be bidding have not been subject to those constraints. Converting societies start off uneven. The purpose of the transitional relief is to give them a period within which they can come up to speed and be on equal terms with those that are already plcs and engaged in those activities.