Paragraph 48 F1

United Kingdom

(1)

Article 110 (consequences of winding-up order) shall have effect with the following modifications.

(2)

Paragraphs (1) and (3) shall be omitted.

(3)

A building society shall, within 15 days of a winding-up order being made in respect of it, give notice of the order F2to the FCA and, if the society is a PRA-authorised person, the PRA ; and F3the FCA must keep the notice in the public file of the society.

(4)

If a building society fails to comply with sub-paragraph (3) above, it shall be liable on summary conviction to a fine not exceeding level 3 on the standard scale; and so shall any officer who is also guilty of the offence.

Annotations

Textual amendments

F1: Sch. 15 paras. 34-55E substituted (N.I.) (1.10.1991) for Sch. 15 paras. 34-55 by S.I. 1989/2405 (N.I. 19), arts. 2(1), 381, Sch. 9 Pt. II para. 45(c); S.R. 1991/411, art. 2
F2: Words in Sch. 15 para. 48(3) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 57(8)(a) (with Sch. 12)
F3: Words in Sch. 15 para. 48(3) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 8 para. 57(8)(b) (with Sch. 12)

Notes on Schedule 15

Modifications

C1: Sch. 15 applied (with modifications) (7.4.2010) by The Building Societies (Financial Assistance) Order 2010 (S.I. 2010/1188), arts. 1(2), 9

Notes on Chapter Parts V , 11 and 12

Textual amendments

F2: Words in Sch. 15 Pt. III heading substituted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 2(3)(e)