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Building Societies (Directors)

Volume 79: debated on Friday 17 May 1985

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asked the Chancellor of the Exchequer if he will introduce legislation to provide a uniform system whereby all building society ordinary investors have an equal opportunity to nominate directors to their building societies; and if he will make a statement.

Paragraph 5ยท14 of the Green Paper "Building Societies: A New Framework" (Cmnd. 9316), setting out the Government's proposals for building society legislation, suggested provisions to ensure that outside candidates have a fair chance to stand against those of the board. The Government are now considering the representations which they have received on the Green Paper. If the hon. Member wishes to raise particular points, perhaps he would write to me.