SCHEDULE 3Modified application of other provisions of the Insolvency Act 1986
Miscellaneous provisions applying to companies which are insolvent3
For the purpose of construing the reference to an associate in subsection (3) of section 242 (gratuitous alienations (Scotland)), section 74 of the Bankruptcy (Scotland) Act 1985 M1 (meaning of “associate”) has effect as if—
a
a reference to the directors of a company were a reference to the members of the committee of the society; and
b
a reference to an officer of a company were a reference to an officer of the society.