Commentary on provisions of Act Section 2: Attendance at meetings by electronic means
This section amends the 1986 Act to explicitly allow the option for building societies to hold meetings and votes so as to enable virtual attendance and voting resulting in hybrid in person/online meetings. Subsection (1) confirms that nothing in Part III of Schedule 2 to the 1986 Act precludes the holding and conducting of building society meetings in a way which allows people who are not present together in the same place to attend, speak and vote by electronic means. The provision is the same as that set out for companies in the Companies Act 2006.
	Subsection (2) makes provision to limit requirements and restrictions on electronic participation in meetings to those which are necessary and proportionate to ensure identification of those attending or to ensure that the electronic communication is secure. The purpose of subsection (2) is to ensure the use of electronic means is only subject to necessary and proportionate requirements to ensure the identification of those attending the meeting and the security of electronic communication. This is the same position as for companies in the Companies Act 2006.