The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018

The Building Societies Act 1986

2.—(1) The Building Societies Act 1986(1) is amended as follows.

(2) In Schedule 15 (application of companies winding up legislation to building societies), in Part 2 (modified application of Insolvency Act 1986 Parts 4, 12 and 13)(2)—

(a) in the heading after “IV,” insert “6, 7,” and at the end insert “and Schedule 10”; and

(b) after paragraph 6 insert—

“6ZA.   Parts 4, 6, 7 and 12 of, and Schedule 10 to, the Act, in their application to building societies, have effect without the amendments of those Parts and that Schedule made by—

(a) section 122 of the Small Business, Enterprise and Employment Act 2015 (abolition of requirements to hold meetings: company insolvency);

(b) section 124 of that Act (ability for creditors to opt not to receive certain notices: company insolvency); and

(c) Part 1 of Schedule 9 to that Act (sections 122 to 125: further amendments).”.

(3) In Schedule 15A (application of other companies insolvency legislation to building societies), in Part 2 (modified application of Parts 1 to 3 and 13 of Insolvency Act 1986)(3)—

(a) in the heading for “and 13” substitute “, 6, 7, 12 and 13”; and

(b) after paragraph 6 insert—

“6A.   Parts 1, 3, 6, 7 and 12 of the Act, in their application to building societies, have effect without the amendments of those Parts made by—

(a) section 122 of the Small Business, Enterprise and Employment Act 2015 (abolition of requirements to hold meetings: company insolvency);

(b) section 124 of that Act (ability for creditors to opt not to receive certain notices: company insolvency); and

(c) Part 1 of Schedule 9 to that Act (sections 122 to 125: further amendments).”.

(1)

1986 c. 53.

(2)

The heading was amended by S.I 2017/400.

(3)

Schedule 15A (with section 90A) was inserted by the Building Societies Act 1997 (c. 32), section 39 and Schedule 6. The heading was amended by S.I 2016/679 and 2017/400.