http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/10

SCHEDULES

SCHEDULE 10 Application of Companies Winding Up Legislation to Incorporated Friendly Societies

Part II Modified Application of Insolvency Act 1986 Parts IV and XII

Winding up by the court

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1

Section 130 of the Act (consequences of winding-up order) shall have effect with the following modifications.

2

Subsections (1) and (3) shall be omitted.

3

An incorporated friendly society shall, within 15 days of a winding-up order being made in respect of it, give notice of the order to the central office; and the central office shall keep the notice in the public file of the society.

4

If an incorporated friendly society fails to comply with sub-paragraph (3) above, it shall be guilty of an offence and liable on summary conviction to a fine not exceeding level 3 on the standard scale.