HL Deb 27 July 1960 vol 225 cc880-1

Clause 27, page 23, line 30, leave out from beginning to end of line 5 on page 24 and insert— ("(3) At any time— (a) when an order is in force as respects a building society under section six of this Act or under section eleven of the Prevention of Fraud (Investments) Act, 1958, or under section eleven of the Prevention of Fraud (Investments) Act, 1939, or (7) Any dispute as to the rights of a member under this section which arises between the member and the building society shall be referred to the Chief Registrar, and the award of the Chief Registrar shall have the same effect as that of arbitrators under section thirty four of the principal Act.")

6.22 p.m.


My Lords, Amendment No. 28 again deals with a question which we discussed in Committee here. The Amendment restricts a member's Tight of access to the register of mines and addresses of members to cases where a society has been subjected to an order by the Chief Registrar, has failed to meet a request for withdrawal of funds or is in arrears with interest. In other cases, a member may apply to the Chief Registrar for access, and the Chief Registrar will decide, after giving the member and the Society an opportunity to make representations, whether or no: to grant access. This meets with the widespread desire of small investors that membership of a building society should be a private matter, whilst ensuring that in appropriate cases members will be able to get in touch with one another in connection with the society's business. My Lords, again I beg to move that this House Both agree with the Commons in the said Amendment.

Moved, That this House doth agree with the Commons in the said Amendment.—(Viscount Hailsham.)

On Question, Motion agreed to.