239.—(1) The rules in this Part relate to the declaration and payment of dividends in a building society insolvency.
(2) In this Part—
“creditors” means those creditors of the building society of whom the building society liquidator is aware, or who are identified in the building society’s statement of affairs, and
“the insolvent” means the building society.
240. Apply rule 11.2 of the 1986 Rules(1). Ignore paragraph (1)(b).
241. Apply rule 11.3 of the 1986 Rules(2). Ignore paragraph (4).
242. Apply rule 11.4 of the 1986 Rules.
243. Apply rule 11.5 of the 1986 Rules.
244.—(1) Apply rule 11.6 of the 1986 Rules(3).
(2) Ignore paragraph (1)(b)(4).
(3) In paragraph (2), after (b), add—
“(ba)expenses incurred by the building society liquidator in the achievement of Objective 1 under section 99 of the Banking Act.”.
245. Apply rule 11.7 of the 1986 Rules.
246. Apply rule 11.8 of the 1986 Rules.
247. Apply rule 11.9 of the 1986 Rules.
248. Apply rule 11.10 of the 1986 Rules.
249. Apply rule 11.11 of the 1986 Rules.
250. Apply rule 11.12 of the 1986 Rules(5).
251. Apply rule 11.13 of the 1986 Rules(6). For paragraph (3) substitute—
“(3) In paragraph (2), “relevant date” means the date of the commencement of building society insolvency.”.
Rule 11.2 was amended by S.I. 2002/1307, S.I. 1987/1919 and S.I. 2009/642.
Paragraphs (3) and (4) were added by S.I. 2002/1307.
Paragraph (3)(b) was substituted by S.I. 2002/1307.
Sub–paragraphs (a) and (b) of rule 11.6(1) were amended by S.I. 2002/1307.
Paragraph (2) was amended by S.I. 1987/1919.
Paragraph (2) and (3) were substituted for the original paragraph (2) by S.I. 2005/527.