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Banking Act 2009

Section 86: Distribution of assets on dissolution or winding up

236.This section allows the Treasury to make provision by order for the distribution of surplus assets of a building society that is subject to a property transfer and then later wound up or dissolved. The order may, for example, also alter priorities on a building society’s dissolution or winding up.

237.Subsection (4)(c) makes an order under this section subject to the affirmative procedure.

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