Notice to customers: failure to give required notice prevents a registration certificate operating against affected account holders. A banking company proposing to register as a limited company must give notice of its intention to every person with a banking account by delivery or posting to the last known address at least thirty days before registering; if the company omits this notice, the certificate of registration with limited liability has no operation as between the company and the person interested in the relevant account, only in respect of that account up to the time notice is given.
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Notice to customers: failure to give required notice prevents a registration certificate operating against affected account holders.
A banking company proposing to register as a limited company must give notice of its intention to every person with a banking account by delivery or posting to the last known address at least thirty days before registering; if the company omits this notice, the certificate of registration with limited liability has no operation as between the company and the person interested in the relevant account, only in respect of that account up to the time notice is given.
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