86 Modes of dissolution and winding up.U.K.
(1)A building society—
(a)may be dissolved by consent of the members, or
(b)may be wound up voluntarily or by the court,
in accordance with this Part; and a building society may not, except where it is dissolved by virtue of section 93(5), 94(10) or 97(9), [F1or following building society insolvency or building society special administration,] be dissolved or wound up in any other manner.
(2)A building society which is in the course of dissolution by consent, or is being wound up voluntarily, may be wound up by the court.
Textual Amendments
F1Words in s. 86(1) inserted (29.3.2009) by The Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), art. 7