Building Societies Act 1997 (c. 32)

Part V U.K. Miscellaneous and supplemental

Miscellaneous U.K.

40 Abolition of priority liquidation distribution rights. U.K.

In section 100 of the 1986 Act (distribution and share rights), the following provisions (which confer rights to priority liquidation distributions) shall cease to have effect, namely—

(a) in subsection (2), paragraph (c) and the word “and” immediately before that paragraph; and

(b) subsections (5) and (6).