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SCHEDULES

SCHEDULE 15U.K. Application of Companies Winding Up Legislation to Building Societies

Modifications etc. (not altering text)

C1Sch. 15 applied (with modifications) (7.4.2010) by The Building Societies (Financial Assistance) Order 2010 (S.I. 2010/1188), arts. 1(2), 9

[F1Part IIIU.K. Modified application of Insolvency (Northern Ireland) Order 1989

Textual Amendments

F1Sch. 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 [F2, 11 and 12] U.K.

Textual Amendments

PreliminaryU.K.

34U.K.In this Part of this Schedule, Part V of the Insolvency (Northern Ireland) Order 1989 is referred to as “Part V”, that Order is referred to as “the Order” and references to “Articles” are references to Articles of that Order.

[F334A.U.K.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);

[F5(g)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).]]]

Textual Amendments