SCHEDULES
C1SCHEDULE 15 Application of Companies Winding Up Legislation to Building Societies
F1Part III Modified application of Insolvency (Northern Ireland) Order 1989
Sch. 15 paras. 34-55E substituted (N.I.) (1.10.1991) for Sch. 15 paras. 34-55 by S.I. 1989/2405 (N.I. 19), arts. 2(1), 381, Sch. 9 Pt. II para. 45(c); S.R. 1991/411, art. 2
Parts V F3, 11 and 12
Words in Sch. 15 Pt. III heading substituted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 2(3)(e)
Preliminary
F234A
In the following provisions a reference to the creditors, general creditors or unsecured creditors of a company includes a reference to every shareholding member of the building society to whom a sum due from the society in relation to the member’s shareholding is due in respect of a deposit—
a
paragraph (1) of Article 121 (general functions of liquidator in winding up by the High Court);
b
paragraph (3) of Article 127 (debts due from contributory to company);
c
paragraph (4) of Article 143 (supplementary powers);
d
paragraph (2)(b) of Article 149 (preferential debts (general provision));
e
paragraph (1) of Article 150ZA (payment of expenses of winding up); F4...
f
paragraphs (3)(b) and (5)(a) of Article 150A (share of assets for unsecured creditors);
F5g
paragraph (1)(e) of Article 350O (direct sanctions orders);
h
paragraph (5) of Article 350Q (direct sanctions order: conditions); and
i
paragraph (3)(e) of Article 350R (direct sanctions direction instead of order).
Sch. 15 applied (with modifications) (7.4.2010) by The Building Societies (Financial Assistance) Order 2010 (S.I. 2010/1188), arts. 1(2), 9