(1)The Treasury may with the concurrence of the Secretary of State by order provide for a company arrangement or administration provision to apply (with or without modification) in relation to—
(a)a society registered under the Industrial and Provident Societies Act 1965 (c. 12),
(b)a society registered under section 7(1)(b), (c), (d), (e) or (f) of the Friendly Societies Act 1974 (c. 46),
(c)a friendly society within the meaning of the Friendly Societies Act 1992 (c. 40), or
(d)an unregistered friendly society.
(2)In subsection (1) “company arrangement or administration provision” means—
(a)a provision of Part I of the Insolvency Act 1986 (company voluntary arrangements),
(b)a provision of Part II of that Act (administration), and
(c)[F1Part 26 of the Companies Act 2006] (compromise or arrangement with creditors).
(3)An order under this section may not provide for a company arrangement or administration provision to apply in relation to a society which is registered as a social landlord under Part I of the Housing Act 1996 (c. 52) or under Part 3 of the Housing (Scotland) Act 2001 (asp 10).
(4)An order under this section—
(a)may make provision generally or for a specified purpose only,
(b)may make different provision for different purposes, and
(c)may make transitional, consequential or incidental provision.
(5)Provision by virtue of subsection (4)(c) may, in particular—
(a)apply an enactment (with or without modification);
(b)amend an enactment.
(6)An order under this section—
(a)must be made by statutory instrument, and
(b)shall be subject to annulment in pursuance of a resolution of either House of Parliament.
Textual Amendments
F1Words in s. 255(2)(c) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 225 (with arts. 6, 11, 12)
Textual Amendments applied to the whole legislation
F2Act: for the words "solicitor of the Supreme Court of Northern Ireland" wherever they occur there is substituted (prosp.) the words "solicitor of the Court of Judicature of Northern Ireland" by virtue of Constitutional Reform Act 2005 (c. 4), ss. 59, 148(1), Sch. 11 para. 5 [Editorial Note: this amendment will be carried through into the text of the Act at the same time as any other effects on the Act for the year in which the relevant commencement order (or first such order) is made]