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The Presbyterian Mutual Society Financial Assistance Scheme Regulations (Northern Ireland) 2011

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1.—(1) The Scheme may be cited as the Presbyterian Mutual Society Financial Assistance Scheme 2011.

(2) In this Scheme—

“Administrator” means the person for the time being appointed under Schedule B1 to the Insolvency (Northern Ireland) Order 1989(1) to manage the affairs, business and property of the Presbyterian Mutual Society;

“Department” means the Department of Enterprise, Trade and Investment;

“determination” means the determination of the First Minister and deputy First Minister, acting jointly, and made on 24th March 2011 that exceptional circumstances exist in relation to the entering into administration by the Presbyterian Mutual Society and that it is desirable to provide financial assistance to prevent, control or mitigate any aspect of those circumstances and that such assistance ought to be provided in accordance with a Scheme under section 1 of the Financial Assistance Act (Northern Ireland) 2009;

“eligible person” shall be construed in accordance with Article 2;

“financial assistance” means financial assistance payable under Article 2; and

“Presbyterian Mutual Society” means the society of that name registered under the Industrial and Provident Societies Acts (Northern Ireland) 1969 and 1976(2) on 13th May 1982.

(3) In this Scheme any reference to the Administrator includes a reference to any person appointed by the Administrator, with the written approval of the Department, to assist him in the administration of the Scheme.

(1)

S.I. 1989/2405 (N.I. 19); Schedule B1 was inserted by Article 3(2) of, and Schedule 1 to, S.I. 2005/1455 (N.I. 10)

(2)

S.I. 1976/425 (N.I. 7), Article 2(3)

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