Companies etc.
Application of law about company arrangement or administration to non-companyI110
1
The Treasury may with the concurrence of the Secretary of State by order provide for a company arrangement or administration provision to apply (with or without modification) in relation to—
a
a society registered under section 7(1)(b), (c), (d), (e) or (f) of the Friendly Societies Act 1974 (c. 46),
b
a friendly society within the meaning of the Friendly Societies Act 1992 (c. 40), or
c
an unregistered friendly society.
2
The Department may by order provide for a company arrangement or administration provision to apply (with or without modification) in relation to F2—
a
a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, or
b
a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985.
3
In paragraphs (1) and (2) “company arrangement or administration provision” means—
a
a provision of Part II of the 1989 Order (company voluntary arrangements),
b
a provision of Part III of that Order (administration), and
c
F1Part 26 of the Companies Act 2006 (compromise or arrangement with creditors).
4
An order under paragraph (1) or (2) may not provide for a company arrangement or administration provision to apply in relation to a society which is registered as a housing association under Part II of the Housing (Northern Ireland) Order 1992 (NI 15).
5
An order under paragraph (1) or (2)—
a
may make provision generally or for a specified purpose only,
b
may make different provision for different purposes, and
c
may make transitional, consequential or incidental provision.
6
Provision by virtue of paragraph (5)(c) may, in particular—
a
apply a statutory provision (with or without modification);
b
amend a statutory provision.
7
An order under paragraph (1) shall be subject to annulment in pursuance of a resolution of either House of Parliament in like manner as a statutory instrument and section 5 of the Statutory Instruments Act 1946 (c. 36) shall apply accordingly.
8
An order under paragraph (2) shall be subject to negative resolution.