The Building Societies (Insolvency and Special Administration) Order 2009

  1. Introductory Text

  2. 1.Citation and interpretation

  3. 2.Application of Parts 2 and 3 of the 2009 Act to building societies

  4. 3.Schedule 1 to this Order specifies modifications to Parts 2...

  5. 4.Other insolvency processes

  6. 5.After section 89 of the 1986 Act (winding-up by court:...

  7. 6.After section 90C of the 1986 Act insert— Notice to...

  8. 7.Consequential amendments to the Building Societies Act 1986

  9. 8.In section 91 of the 1986 Act (power of court...

  10. 9.In section 92 of the 1986 Act (supplementary), after “is...

  11. 10.In section 103 of the 1986 Act (cancellation of registration),...

  12. 11.In section 119 of the 1986 Act (interpretation), in subsection...

  13. 12.Amendments to other enactments

  14. 13.In section 411 of the Insolvency Act 1986 (company insolvency...

  15. 14.In section 414 of the Insolvency Act 1986 (fees orders),...

  16. 15.In section 220(3)(a) of the Financial Services and Markets Act...

  17. 16.Rules

  18. 17.Northern Ireland

  19. 18.Application of subordinate legislation under Parts 2 and 3 of the 2009 Act

  20. Signature

    1. SCHEDULE 1

      Modified application of Parts 2 and 3 of the Banking Act 2009 to building societies

      1. PART 1 General mode of application

        1. 1.General mode of application and interpretation

        2. 2.(1) Parts 2 and 3 of the 2009 Act apply...

        3. 3.Where a provision of Part 2 or 3 of the...

        4. 4.In Parts 2 and 3 of the 2009 Act, and...

        5. 5.Expressions used in this Schedule (including in text inserted or...

      2. PART 2 Modified application of Part 2 of the 2009 Act

        1. 6.This Part sets out modifications to Part 2 of the...

        2. 7.Introduction

        3. 8.Subsections (5) and (6) of section 93 of the 2009...

        4. 9.Building society insolvency order

        5. 10.In section 96 of the 2009 Act (grounds for applying)—...

        6. 11.In section 97 of the 2009 Act (grounds for making)—...

        7. 12.In section 98 of the 2009 Act (commencement), in subsection...

        8. 13.Process of building society liquidation

        9. 14.Termination of process, &c.

        10. 15.In section 114 of the 2009 Act (administration)—

        11. 16.In section 115 of the 2009 Act (dissolution)—

        12. 17.In section 116 of the 2009 Act (dissolution: supplemental), in...

        13. 18.Sections 1012 to 1023 and 1034 of the Companies Act...

        14. 19.Other processes

        15. 20.(1) Ignore section 119 of the 2009 Act (exclusion of...

        16. 21.Ignore sections 120 (notice to FSA of preliminary steps) and...

        17. 22.Miscellaneous

        18. 23.Ignore sections 130 (building societies), 131 (credit unions), 132 (partnerships)...

      3. PART 3 Modified application of Part 3 of the 2009 Act

        1. 24.This Part sets out modifications to Part 3 of the...

        2. 25.Introduction

        3. 26.Process

        4. 27.(1) In section 145, table 1 (Schedule B1 to the...

        5. 28.(1) In section 145, table 2 (other provisions of the...

        6. 29.General powers of administrator

        7. 30.No more assets for distribution

        8. 31.Property of society dissolved under paragraph 30

        9. 32.Multiple transfers

        10. 33.Termination

        11. 34.Miscellaneous

        12. 35.(1) Ignore section 157 of the 2009 Act (other processes);...

        13. 36.Ignore sections 158 (building societies), 159 (credit unions), 163 (partnerships)...

        14. 37.Subsections (4) and (5) of section 166 of the 2009...

    2. SCHEDULE 2

      Modified application of subordinate legislation

      1. 1.The following instruments apply in relation to building societies as...

      2. 2.The following general modifications apply to all of the instruments...

      3. 3.The modifications to the Banking Act 2009 (Parts 2 and...

      4. 4.The modifications to the Banking Act 2009 (Bank Administration) (Modification...

      5. 5.The modifications to the Banking Act 2009 (Bank Administration) (Modification...

  22. Explanatory Note