Point in time view as at 22/12/2004.
Building Societies Act 1986, Paragraph 37 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F137U.K.In the enactments as applied to a building society, “contributory”—
(a)means every person liable to contribute to the assets of the society in the event of its being wound up, and
(b)for the purposes of all proceedings for determining, and all proceedings prior to the determination of, the persons who are to be deemed contributories, includes any person alleged to be a contributory, and
(c)includes persons who are liable to pay or contribute to the payment of—
(i)any debt or liability of the building society being wound up, or
(ii)any sum for the adjustment of rights of members among themselves, or
(iii)the expenses of the winding up;
but does not include persons liable to contribute by virtue of a declaration by the Court under Article 177 (imputed responsibility for fraudulent trading) or Article 178 (wrongful trading).]
Textual Amendments
F1Sch. 15 paras. 34-55E substituted (N.I.) (1.10.1991) for Sch. 15 paras. 34-55 by S.I. 1989/2405 (N.I. 19), arts. 2(1), 381, Sch. 9 Pt. II para. 45(c); S.R. 1991/411, art. 2
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