Article 2 Floating charges: application of companies winding up legislation

In Schedule 15 to the Act^f1 (application of companies winding up legislation to building societies) for paragraph 16 substitute—

“16.

(1)
Section 122^f2 (circumstances in which company may be wound up by the court) of the Act does not apply in relation to a building society whose principal office is situated in England and Wales.

(2)
Section 122 has effect in relation to a building society whose principal office is situated in Scotland as if subsection (1) were omitted.”.

Annotations

Footnotes

f1: Schedule 15 was amended by the Companies Act 1989 (c. 40), sections 211(2) and 212 and Schedule 24; the Building Societies Act 1997 (c. 32), Schedule 7, paragraph 65; and by S.I. 2001/2617, 2001/3649, 2009/2941 and 2013/496. There are other amendments, but they are not relevant.
f2: That is, section 122 of the Insolvency Act 1986 (c. 45). Part 2 of Schedule 15, which includes paragraph 16, applies provisions of that Act with modifications to building societies whose principal office is in England and Wales or Scotland.