Early day motion tabled by primary sponsor Adrian Bailey (Labour and Co-operative Party), on Wednesday, 15 June 2005, in the House of Commons. It is signed by 59 members in total.

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BRITANNIA BUILDING SOCIETY AND RE-MUTUALISATION

That this House welcomes the Britannia Building Society's acquisition of the Bristol and West's savings business and branch network from the Bank of Ireland for ??150 million; notes that this is the first major re-mutualisation in the United Kingdom, reversing the demutualisation trend in the late 1990s; further notes that Britannia will move into 65 towns and neighbourhoods where it is not currently present and Bristol and West's customers will become members and co-owners of Britannia; congratulates Britannia on its ongoing commitment to a branch network which provides increased access to consumers; and urges the Government to recognise that this is a further illustration of the important role that mutuals play in ensuring competition and value for money for the consumer.

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Secondary information

Type

Early day motion

Reference

332 

Session

2005-06

Other sponsors

Iris Robinson

Alan Keen

Mark Lazarowicz

David Leslie Taylor

Bob Russell

Subjects

Mutual societies Sales Britannia Building Society Bristol & West

Link

View this Early day motion on www.parliament.uk