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Where MPs Stand

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CHALLENGES TO BUILDING SOCIETIES' MUTUAL STATUS

Early day motion 650, tabled 17 May 1999 by Charlotte Atkins (Labour). Signed by 54 members.

That this House applauds the recent vote of Britannia Building Society in favour of maintaining the Society's mutual status; notes that Michael Hardern's late withdrawal from the election of directors will force a new ballot to be held; notes with concern that the additional cost to the Society's members of the two ballots totals ú3 million; recognises that Britannia and other societies are powerless to prevent similar abuses of their democratic procedures in future; and calls on Her Majesty's Government to strengthen the rules governing nominations of candidates for elections to building society boards to prevent further frivolous and wasteful challenges.

Signatures by party: Labour 39, Liberal Democrat 8, Labour/Co-operative 5, Conservative 1, Plaid Cymru 1.