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The Banks and Building Societies (Depositor Preference and Priorities) Order 2014
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The Banks and Building Societies (Depositor Preference and Priorities) Order 2014, Section 35 is up to date with all changes known to be in force on or before 23 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Article 35:
- Order revoked by 2023 c. 29 Sch. 1 Pt. 2
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
- Order revoked by 2023 c. 29 Sch. 1 Pt. 2
Matters to be covered by the rulesU.K.
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35.—(1) Paragraph 3(4) (table of matters to be covered by the rules) of Schedule 2 to the Building Societies Act 1986 (establishment, incorporation and constitution of building societies) is amended as follows.
(2) In paragraph 14 of the Table for the words “, on the winding up, or dissolution by consent,” substitute “on the dissolution by consent”.
(3) After paragraph 14 add—
“15. The entitlement of members, on the winding up of the society, to participate in the distribution of any surplus assets after payments are made in satisfaction of the society’s liabilities to creditors and shareholding members under the companies winding up legislation as modified by Parts 1 to 3 of Schedule 15 to this Act.”.
Commencement Information
I1Art. 35 in force at 1.1.2015, see art. 1(2)
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