SCHEDULES

SCHEDULE 15 Application of Companies Winding Up Legislation to Building Societies

F1Part III Modified application of Insolvency (Northern Ireland) Order 1989

Annotations:
Amendments (Textual)
F1

Sch. 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

Parts V and XI

Winding up by the High Court

48

1

Article 110 (consequences of winding-up order) shall have effect with the following modifications.

2

Paragraphs (1) and (3) shall be omitted.

3

A building society shall, within 15 days of a winding-up order being made in respect of it, give notice of the order to the central office; and the central office shall keep the notice in the public file of the society.

4

If a building society fails to comply with sub-paragraph (3) above, it shall be liable on summary conviction to a fine not exceeding level 3 on the standard scale; and so shall any officer who is also guilty of the offence.