[Part III Modified Application of Insolvency (Northern Ireland) Order 1989, Parts V[, XI and XII]]
Building Societies Act 1986 (1986 c 53) | Legislation

[Part III Modified Application of Insolvency (Northern Ireland) Order 1989, Parts V[, XI and XII]

[Preliminary

34

In this Part of this Schedule, Part V of the Insolvency (Northern Ireland) Order 1989 is referred to as “Part Vâ€, that Order is referred to as “the Order†and references to “Articles†are references to Articles of that Order.

[34A

In the following provisions a reference to the creditors, general creditors or unsecured creditors of a company includes a reference to every shareholding member of the building society to whom a sum due from the society in relation to the member's shareholding is due in respect of a deposit—

(a)     paragraph (1) of Article 121 (general functions of liquidator in winding up by the High Court);

(b)     paragraph (3) of Article 127 (debts due from contributory to company);

(c)     paragraph (4) of Article 143 (supplementary powers);

(d)     paragraph (2)(b) of Article 149 (preferential debts (general provision));

(e)     paragraph (1) of Article 150ZA (payment of expenses of winding up); . . .

(f)     paragraphs (3)(b) and (5)(a) of Article 150A (share of assets for unsecured creditors);

[(g)     paragraph (1)(e) of Article 350O (direct sanctions orders);

(h)     paragraph (5) of Article 350Q (direct sanctions

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