Part III Modified Application of Insolvency (Northern Ireland) Order 1989
Friendly Societies Act 1992 (1992 c 40) | Legislation

Part III Modified Application of Insolvency (Northern Ireland) Order 1989

Preliminary

37

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

Members of a friendly society as contributories in winding up

38

(1)     Article 61 (liability of members) of the Order is modified as follows.

(2)     In paragraph (1), the reference to any past member shall be omitted.

(3)     Sub-paragraphs (a) to (d) of paragraph (2) shall be omitted; and so shall paragraph (3).

(4)     The extent of the liability of a member of an incorporated friendly society in a winding up shall not exceed the extent of his liability under paragraph 8 of Schedule 3 to this Act.

39

Articles 62 to 65 and 69 of the Order (miscellaneous provisions not relevant to incorporated friendly societies) do not apply.

40

(1)     Article 13 (meaning of “contributoryâ€) of the Order does not apply.

(2)     In the enactments as applied to an incorporated friendly society “contributoryâ€â€”

(a)     means every person liable to contribute to the assets of the society in the event

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