§ Ms LynneTo ask the Chancellor of the Exchequer what rules govern the payment of bonuses by building societies converting to banks in respect of individuals who have two building society accounts in their names; and if he will review the rules to ensure that charitable organisations that hold building society accounts in the name of an individual who also has a personal account receive bonus payments made when a building society converts to a bank. [3517]
§ Mrs. Angela Knight[holding answer 12 November 1996]: The Building Societies Act 1986 gives converting building societies considerable discretion in structuring their distribution schemes. A society could propose to 361W confer a benefit on each account held by an individual. The structure of distribution schemes is a matter for the societies concerned, and for their members.