Part X Dissolution, Winding Up, Mergers and Transfer of Business
Dissolution and winding up
90EF1Disqualification of directors
1
In this section “the Disqualification Act” means the Company Directors Disqualification Act 1986.
2
In the Disqualification Act—
a
a reference to liquidation includes a reference to building society insolvency and a reference to building society special administration,
b
a reference to winding up includes a reference to making or being subject to a building society insolvency order and a reference to making or being subject to a building society special administration order,
c
a reference to becoming insolvent includes a reference to becoming subject to a building society insolvency order and a reference to becoming subject to a building society special administration order, and
d
a reference to a liquidator includes a reference to a building society liquidator and a reference to a building society special administrator.
F23
For the purposes of the application of section 7A of the Disqualification Act (office-holder’s report on conduct of directors) to a building society which is subject to a building society insolvency order—
a
the “office-holder” is the building society liquidator,
b
the “insolvency date” means the date on which the building society insolvency order is made, and
c
subsections (9) to (11) are omitted.
4
For the purposes of the application of that section to a building society which is subject to a building society special administration order—
a
the “office-holder” is the building society special administrator,
b
the “insolvency date” means the date on which the building society special administration order is made, and
c
subsections (9) to (11) are omitted.
5
In the application of this section to Northern Ireland, references to the Disqualification Act are to the Company Directors Disqualification (Northern Ireland) Order 2002 and F3in subsections (3) and (4)—
a
the reference to section 7A of the Disqualification Act is a reference to Article 10A of that Order (office-holder’s report on conduct of directors), and
b
the reference to subsections (9) to (11) of that section is a reference to paragraphs (9) to (11) of that Article.