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.