Town and Country Building Society

HC Deb 26 November 1991 vol 199 c445W

Mr. Austin Mitchell

To ask the Chancellor of the Exchequer whether he will make a statement on the affairs of the Town and Country building society.

Mr. Maples

The Woolwich building society issued a press release on 19 November stating that the board of the Town and Country building society had agreed to recommend to its members a transfer of the society's engagements to the Woolwich building society and that arrangements for the transfer, subject to audit and to regulatory and other relevant requirements, were accordingly proceeding.