Floating charges: application of companies winding up legislation2.
In Schedule 15 to the Act5 (application of companies winding up legislation to building societies) for paragraph 16 substitute—
“16.
(1)
Section 1226 (circumstances in which company may be wound up by the court) of the Act does not apply in relation to a building society whose principal office is situated in England and Wales.(2)
Section 122 has effect in relation to a building society whose principal office is situated in Scotland as if subsection (1) were omitted.”.