Building Societies Act 1986

[F1 Receivers and managers U.K.

Textual Amendments

F1 Sch. 15A inserted (1.12.1997) by 1997 c. 32, s. 39(2), Sch. 6; S.I. 1997/2668, art. 2, Sch. Pt. I(i)

47 U.K. In Article 48 of the Order (receivership accounts), “prescribed” means prescribed by regulations made by statutory instrument by the [F2 Treasury].

Textual Amendments

F2 Word in Sch. 15A para. 47 substituted (17.8.2001 for certain purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. II para. 210(t) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2

Modifications etc. (not altering text)

C1 Sch. 15A para. 47: Functions of Building Societies Commission transferred (1.12.2001) to the Treasury by S.I. 2001/2617 arts. 2(b), 4(1), Sch. 1 Pt. III; S.I. 2001/3538, art. 2

48 U.K. In paragraph (1) of Article 49 of the Order (notification that receiver or manager appointed), the reference to every invoice, order for goods or business letter is a reference to every statement of account, order for goods or services, business letter or advertisement.

[F3 49 U.K. Paragraph (3) of Article 50 of the Order (payment of debts out of assets subject to floating charge), as applied to a building society, has effect as if the reference to general creditors included a reference to shareholding members of the society in respect of deposits which are not relevant deposits.

Textual Amendments

F3 Sch. 15A paras. 49-52 substituted for Sch. 15A para. 49 (with application in accordance with art. 1(4) of the amending S.I.) by The Building Societies (Floating Charges and Other Provisions) Order 2016 (S.I. 2016/679), arts. 1(1), 4(4)

50. U.K. Articles 52 to 59 of the Order (administrative receivers) are omitted.

Textual Amendments

F3 Sch. 15A paras. 49-52 substituted for Sch. 15A para. 49 (with application in accordance with art. 1(4) of the amending S.I.) by The Building Societies (Floating Charges and Other Provisions) Order 2016 (S.I. 2016/679), arts. 1(1), 4(4)

51. U.K. Article 59A of the Order (floating charge holder not to appoint administrative receiver), as applied to a building society, has effect as if—

(a) in paragraph (1) the word “qualifying” were omitted; and

(b) paragraphs (2), (3)(a), (4) and (5) were omitted.

Textual Amendments

F3 Sch. 15A paras. 49-52 substituted for Sch. 15A para. 49 (with application in accordance with art. 1(4) of the amending S.I.) by The Building Societies (Floating Charges and Other Provisions) Order 2016 (S.I. 2016/679), arts. 1(1), 4(4)

52. U.K. Articles 59B to 59J of the Order (exceptions to prohibition) are omitted.]]

Textual Amendments

F3 Sch. 15A paras. 49-52 substituted for Sch. 15A para. 49 (with application in accordance with art. 1(4) of the amending S.I.) by The Building Societies (Floating Charges and Other Provisions) Order 2016 (S.I. 2016/679), arts. 1(1), 4(4)