INBS to vote on demutualisation

MEMBERS of the Irish Nationwide Building Society will vote on whether the society should demutualise at its annual general meeting in April.

The Irish Financial Services Regulatory Authority (IFSRA) has told the board of the Irish Nationwide that a motion, requested by demutualisation campaigners Shane Hogan and Brendan Burgess, must be tabled at the AGM.

The society has tried to block the motion on the grounds that it was not legally valid, but after appealing to the IFSRA, the campaigners have been told that it does comply with the Building Societies Act. However, INBS will table its own motion on demutualisation.