{
  "url": "https://openlegislation.uk/building-societies-act-1986/schedule-15/paragraph-23A",
  "json_url": "https://openlegislation.uk/building-societies-act-1986/schedule-15/paragraph-23A.json",
  "legislation": "ukpga/1986/53",
  "legislation_title": "Building Societies Act 1986",
  "legislation_url": "https://openlegislation.uk/building-societies-act-1986",
  "path": "schedule/15/paragraph/23A",
  "kind": "paragraph",
  "number": "23A",
  "heading": null,
  "text": "Section 143 (general functions of liquidator in winding up by the court) of the Act has effect as if after subsection (1) there were inserted—\n“(1A) Subject to the provisions of Part 4 relating to preferential payments, a building society’s property in the winding up shall be applied in satisfaction of the society’s liabilities to creditors pari passu and, subject to that application, in accordance with the rules of the society.\n(1B) In subsection (1A) the reference to the society’s liabilities to creditors includes a reference to the society’s liabilities to shareholding members of the society in respect of deposits which are not relevant deposits.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 15 para. 23A inserted (1.1.2015) by The Banks and Building Societies (Depositor Preference and Priorities) Order 2014 (S.I. 2014/3486), arts. 1(2), 33(5) (with art. 3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/53/schedule/15/paragraph/23A",
    "retrieved_at": "2026-10-29T09:54:49.368285+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}