Paragraph 29 General powers of administrator
(1)
This paragraph modifies the application of paragraphs 59 to 64 of Schedule B1 to the Insolvency Act 1986 (general powers of administrator); the modifications have effect in addition to those set out for those paragraphs in table 1 in section 145 of the 2009 Act.
(2)
Subject to sub-paragraph (3), paragraphs 59 to 64 of Schedule B1 have effect as if they required the building society special administrator, in exercising powers under those paragraphs—
(a)
to ensure compliance with the provisions of the Building Societies Act 1986, and
(b)
not to appoint to be a director any person who is not a fit and proper person to hold that position.
(3)
Sub-paragraph (2)(a) does not apply in relation to section 5, 6 or 7 of the Building Societies Act 1986.