87 Dissolution by consent
Building Societies Act 1986 (1986 c 53) | Legislation

87  Dissolution by consent

(1)     A building society may be dissolved by an instrument of dissolution, with the consent (testified by their signature of that instrument) of three-quarters of the members of the society, holding not less than two-thirds of the number of shares in the society.

(2)     An instrument of dissolution under this section shall set out—

(a)     the liabilities and assets of the society in detail;

(b)     the number of members, and the amount standing to their credit in the accounting records of the society;

(c)     the claims of depositors and other creditors, and the provision to be made for their payment;

(d)     the intended appropriation or division of the funds and property of the society;

(e)     the names of one or more persons to be appointed as trustees for the purposes of the dissolution, and their remuneration.

(3)     An instrument of dissolution made with consent given and testified as mentioned in subsection

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