The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014

Schedule 5 (application of other subordinate legislation with modifications)

8.  In Schedule 5—

(a) after paragraph 1 insert—

“Modified application of the Insurers (Reorganisation and Winding Up) Regulations 2004

1A.   The Insurers (Reorganisation and Winding Up) Regulations 2004(1) have effect in relation to a relevant society as if in regulation 2(3) (interpretation of references to the law of insolvency) the reference to the Co-operative and Community Benefit Societies Act 2014 included a reference to an order made under section 118 of that Act.”; and

(b) in paragraph 3(2)(b), in paragraph (1A) inserted in article 2 of the Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2010(2) for “section 74(1) of the Industrial and Provident Societies Act 1965” substitute “article 1(2) of the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014”.

(1)

2004/353 as amended by S.I. 2014/1815. There are other amendments not relevant to this Order.

(2)

S.I. 2010/3023.