Building societies face wide review
Friday 24 February 1995
The Government's findings come at a crucial moment in the proposed takeover by Lloyds Bank of Cheltenham & Gloucester and in the merger between Halifax and Leeds Permanent building societies.
C&G is drumming up support among customers for its deal, which requires a high vote in favour. Any shift in legislation governing changes of ownership could have a critical impact.
Sources suggest, however, that these measures are unlikely to be changed. The Government is more likely to change the powers societies have to raise money in the money markets.
An extension of these powers would enable societies to lessen their dependence on deposits for raising funds.
Banks such as Abbey National have launched a campaign calling for more accountability for societies, on the basis that these extensions of their powers make them more like plcs than mutual organisations.
The banks suggest that societies should have to pay a dividend to customers, and that they should extend customer representation on society boards.
elephant appealPrince William signs up for our charity appeal
elephant appealSo says man jailed for cutting off dead elephant's tusks
booksWe examine the best titles for teens
scienceResearchers teach border collie to understand sentences using more than 1,000 words
booksA Christmas story in six parts
travelWill high-value tourism help the workshops of this Renaissance city?
Geoffrey Macnab does not like the comedian's big screen debut
Top PR exec Justine Sacco under fire for sending racist tweet before flying to Africa
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
Ten best places to live in the UK: Hart in Hampshire takes top spot
'Untrue statements' anger over work to make H5N1 bird-flu virus MORE dangerous to humans
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Top PR exec Justine Sacco under fire for sending racist tweet before flying to Africa
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 The publisher who played with fire: the battle for control of Larsson's £30m legacy
- 5 Police seize possessions of rough sleepers in crackdown on homelessness
- < Previous
- Next >
iJobs Money & Business
£59999 - £80001 per annum + Benefits: Pro-Recruitment Group: A Top 10 firm in ...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Project Manage...
£60000 - £90000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£Negotiable: Citifocus: High calibre individual with institutional client serv...