7(1)Section 74 (liability of members) of the Act is modified as follows.U.K.
(2)In subsection (1), the reference to any past member shall be omitted.
(3)Paragraphs (a) to (d) of subsection (2) shall be omitted; and so shall subsection (3).
[F1(3A)In paragraph (f) of subsection (2) the reference to a sum due to a member of the company by way of dividends, profits or otherwise does not include a sum due to a shareholding member of a building society in respect of a deposit.]
(4)The extent of the liability of a member of a building society in a winding up shall not exceed the extent of his liability under paragraph 6 of Schedule 2 to this Act.
Textual Amendments
F1Sch. 15 para. 7(3A) inserted (1.1.2015) by The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 33(3) (with art. 3)