The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017

Section 176ZB

14.—(1) Section 176ZB (application of proceeds of office-holder claims) does not apply in relation to any relevant proceedings commenced before the commencement date.

(2) “Relevant proceedings” means—

(a) bank insolvency under Part 2 of the 2009 Act or bank administration under Part 3 of that Act;

(b) building society insolvency under Part 2 of the 2009 Act (as applied by section 90C of the Building Societies Act 1986(1));

(c) building society special administration under Part 3 of the 2009 Act (as applied by section 90C of the Building Societies Act 1986);

(d) the administration of a building society under Part 2 of the 1986 Act (as applied by section 90A of the Building Societies Act 1986(2));

(e) special administration, special administration (bank insolvency) or special administration (bank administration) under the Investment Bank Special Administration Regulations 2011; or

(f) the administration of a relevant society (within the meaning given in article 1(2) of the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014) under Part 2 of the 1986 Act as applied by article 2(2) of that Order.

(1)

Section 90C was inserted by S.I. 2009/805.

(2)

Section 90A was inserted by the Building Societies Act 1997 (c. 3).