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Paragraph 2 General mode of application and interpretation

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Parts 2 and 3 of the 2009 Act apply to building societies with the following general modifications (in addition to the general modifications set out in section 90C(2) of the 1986 Act)—

(a)

for “company” in each place where it appears (except in section 151) substitute “building society”;

(b)

a reference to depositors includes a reference to holders of shares in the society;

(c)

a reference to a provision in Part 1 (Special Resolution Regime) of the 2009 Act is a reference to that provision as applied to building societies with any modifications by section 84 of the 2009 Act (application of Part 1: general);

(d)

a reference to a provision in Part 2 or 3 of the 2009 Act is a reference to that provision as applied in relation to building societies by section 90C of the 1986 Act with any modifications specified in that section or this Schedule.