Part X Dissolution, Winding Up, Mergers and Transfer of Business

Dissolution and winding up

86 Modes of dissolution and winding up.

1

A building society—

a

may be dissolved by consent of the members, or

b

may be wound up voluntarily or by the court,

in accordance with this Part; and a building society may not, except where it is dissolved by virtue of section 93(5), 94(10) or 97(9), be dissolved or wound up in any other manner.

2

A building society which is in the course of dissolution by consent, or is being wound up voluntarily, may be wound up by the court.