[Part II Modified Application of [Parts I to III][, VI, VII, XII and XIII] of Insolvency Act 1986]
Building Societies Act 1986 (1986 c 53) | Legislation

[Part II Modified Application of [Parts I to III]

[Preliminary

6

In this Part of this Schedule, the Insolvency Act 1986 is referred to as “the Actâ€.

[6A

Parts 1, 3, 6, 7 and 12 of the Act, in their application to building societies, have effect without the amendments of those Parts made by—

(a)     section 122 of the Small Business, Enterprise and Employment Act 2015 (abolition of requirements to hold meetings: company insolvency);

(b)     section 124 of that Act (ability for creditors to opt not to receive certain notices: company insolvency); and

(c)     Part 1 of Schedule 9 to that Act (sections 122 to 125: further amendments).]

Voluntary arrangements

7

Section 1 of the Act (proposals for voluntary arrangements) has effect as if—

(a)     it required any proposal under Part I of the Act to be so framed as to enable a building society to comply with the requirements of this Act; and

(b)     any reference to debts included a reference to liabilities owed to the holders of shares in a building society.

8

In section 2 (procedure where nominee is not liquidator or administrator) and section 3 (summoning of

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Mistake in contract law

Mistake in contract lawThis Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of

LEXISNEXIS

Collective investment schemes—essentials

Collective investment schemes—essentialsThis Practice Note examines the definition of a collective investment scheme (CIS) and available exemptions, and the treatment of regulated and unregulated CIS.Definition of a collective investment schemeThe definition of a CIS is contained in section 235 of

LEXISNEXIS

In a business-to-business contract where a contractual long-stop date has passed but the parties wish to

In a business-to-business contract where a contractual long-stop date has passed but the parties wish to continue with the contract, should they document their intention to continue or enter into a new contract?Long-stop dateAs stated in the Drafting Notes to clause: Long-stop date definition, the

LEXISNEXIS

A chargor (an individual) is granting a legal charge to a chargee (a company). Can an employee of the

There does not appear to be any evidence that an employee of the chargee cannot witness the chargor’s signature.Practice Note: Property deeds—use and execution of deeds in property transactions, provides guidance on who may witness the signature of a deed by an individual:‘There are certain