Duties of the Board in case of companies F3and friendly societies in liquidation
5AF2 Application of sections 8A, 10 and 11.
1
The functions of the Board under sections 8A, 10 and 11 below are exercisable in the case of a registered friendly society if—
a
an order has been made for the winding up of the society on a petition under section 87 of the M1Friendly Societies Act 1974;
b
it has terminated under paragraph (a) of subsection (1) of section 93 of that Act upon the happening of an event;
c
it has been dissolved in accordance with paragraph (b) of that subsection; or
d
an award has been made under section 95 or section 95A of that Act.
2
The functions of the Board under sections 8, 10 and 11 below are exercisable in the case of an incorporated friendly society if—
a
an instrument of dissolution has been approved under section 20 of the Friendly Societies Act 1992;
b
a special resolution that it be wound up voluntarily has been passed under section 21 of that Act; or
c
an order has been made for the winding up of the society on a petition under section 22 or 52 of that Act.
3
In this Act “closing society” means a friendly society in the case of which the Board’s functions are exercisable under subsection (1) or (2) above.
4
References in this Act to the beginning of the liquidation of a closing society are references—
a
in a case falling within paragraph (a) of subsection (1) above, to the date of the order;
b
in a case falling within paragraph (b) of that subsection, to the date of the happening of the event;
c
in a case falling within paragraph (c) of that subsection, to the date of signature of the instrument of dissolution;
d
in a case falling within paragraph (d) of that subsection, to the date of the award;
e
in a case falling within paragraph (a) of subsection (2) above, to the date of signature of the instrument of dissolution;
f
in a case falling within paragraph (b) of that subsection, to the date of the passing of the special resolution; and
g
in a case falling within paragraph (c) of that subsection, to the date of the order.
Words in cross heading preceding s. 5 inserted (prosp.) by Friendly Societies Act 1992 (c. 40), ss. 97, 126(2), Sch. 17 para. 4 (with ss. 7(5), 93(4))