Rule 118 Committee established by contributoriesI1

Apply rule 4.154 of the 1986 Rules^f1.

For paragraph (1) substitute—

“(1)

This rule applies where the outcome of the creditors’ meeting summoned by the building society liquidator under rule 42 of the 2010 Rules is, (by virtue of rule 42(2)), that the liquidation committee ceases to exist at the end of the meeting.”.

In paragraph (2), for “that section” substitute “section 141 of the Act”.

In paragraph (4) for “at least 3 and not more than 5”, substitute “three or five”.