Financial regulator IFSRA has found that Irish Nationwide breached the legislation governing the conduct of annual general meetings at its AGM in 2003.
Following complaints from members, IFSRA conducted an investigation relating to the issue of proxy forms.
In a statement today, it said Irish Nationwide had accepted that preparations for the 2003 AGM did not comply fully with the Building Societies Act 1989. Proxy forms issued to some members were not appended to a notice of the AGM.
IFSRA said no such issue arose at this year's AGM, and that the breach did not invalidate the exercise of proxies.
IFSRA chief executive Liam O'Reilly said that, regardless of the technical nature of the issue, it was a cause for some concern that it was allowed to occur.
