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Widows mutuality vote

Life office Scottish Widows is expected to give-up mutual status, moving a step closer to transferring business to Lloyd&#39s TSB group, in a special meeting this week.


Members and policyholders expect to gain at least £500 from a vote supporting the transfer and will meet in Edinburgh for the vote.


To succeed, the board&#39s proposal to de-mutualise, will need the support of 75 per cent of voters, who include 1.6m members and 400,000 other policyholders.


If the proposal is accepted it will then go before Edinburgh&#39s Court of Sessions for final legal approval. If gained the transfer of business to Lloyd&#39s TSB will be effective from March 3 2000.


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