10.—(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 a society registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 (c. 24).
(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)Article 418 of the Companies (Northern Ireland) Order 1986 (NI 6) (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.