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.