JAA indeed...
Interestingly, during flap retraction one is flying below flaps maneuvring speeds for the new flapsetting as next flapsetting is set at the current flap maneuvering speed. According the FCTM, this still guarantees 30 degr bank margin during flap transition, which could very well equal the 1.2 g you mentioned.
NSEU, thanks for your comment. I found a chapter in the FCTM which confirms your story. Interestingly Boeing warns
"one should not confuse flap maneuvering speeds with minimum maneuvering speed" in the same chapter
The way I see it now, the flap maneurving speed guarantees
at least 1.3 stick shakermargin, but generally always a little more than that.
Cheers