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The Financial Services (Banking Reform) Act 2013 (Commencement (No. 8) and Consequential Provisions) Order 2015
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Floating charges (Scotland): application of the Bankruptcy and Diligence etc. (Scotland) Act 2007
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5.—(1) On the day on which section 46 (repeals, savings and transitional arrangements) of the Bankruptcy and Diligence etc. (Scotland) Act 2007(1) (“the 2007 Act”) comes into force—
(a)article 4 of, and Schedule 1 to, this Order cease to have effect to the same extent as Chapters 1 and 3 of Part 18 of the Companies Act 1985 cease to have effect by virtue of section 46 of the 2007 Act; and
(b)paragraph (2) has effect.
(2) Part 2 of the 2007 Act(2) applies to a building society as it applies to an incorporated company, but—
(a)with the modifications set out in Schedule 2; and
(b)in consequence of those modifications, without the modifications in regulation 5 of the Financial Markets and Insolvency (Settlement Finality and Financial Collateral Arrangements) (Amendment) Regulations 2010(3) (registration of charges: Scotland).
(1)
(2)
Part 2 has been amended, before being brought into force, by the Banking Act 2009 (c. 1), section 253; and by S.I. 2009/1941 and 2010/2993.
(3)
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