The Building Societies (Transfer of Business) Regulations 1988
These Regulations which are made under section 102 of, and paragraph 5 of Schedule 17 to, the Building Societies Act 1986 (“the Act”) prescribe certain matters connected with the transfer of the property, rights and liabilities of a building society to a company incorporated under the Companies Acts which may, by virtue of sections 97(3) and (12) of the Act, be either a company specially formed by the society (and by no others than its nominees) for the purpose of assuming and conducting its business in its place or an already existing company carrying on business as a going concern.