SCHEDULES
C1SCHEDULE 15 Application of Companies Winding Up Legislation to Building Societies
Annotations:
Modifications etc. (not altering text)
Part II Modified Application of Insolvency Act 1986
Parts IV and XII
Members of a building society as contributories in winding up
7
1
Section 74 (liability of members) of the Act is modified as follows.
2
In subsection (1), the reference to any past member shall be omitted.
3
Paragraphs (a) to (d) of subsection (2) shall be omitted; and so shall subsection (3).
F13A
In paragraph (f) of subsection (2) the reference to a sum due to a member of the company by way of dividends, profits or otherwise does not include a sum due to a shareholding member of a building society in respect of a deposit.
4
The extent of the liability of a member of a building society in a winding up shall not exceed the extent of his liability under paragraph 6 of Schedule 2 to this Act.
Sch. 15 applied (with modifications) (7.4.2010) by The Building Societies (Financial Assistance) Order 2010 (S.I. 2010/1188), arts. 1(2), 9