# The Financial Services (Banking Reform) Act 2013 (Commencement (No. 8) and Consequential Provisions) Order 2015, Paragraph 9

Extent: E+W+S+N.I.

Section 45 (effect of floating charges on winding up) has effect as if—
(a) subsections (2) ... and (8) were omitted; and
(b) for subsection (7) there were substituted—
“(7) For the purposes of this section a building society goes into liquidation if—
(a) it goes into liquidation within the meaning of section 247(2) of the Insolvency Act 1986; or
(b) the court makes a building society insolvency order in relation to it under section 94 of the Banking Act 2009 (as applied by section 90C of the Building Societies Act 1986) at a time when it has not already gone into liquidation by passing a special resolution for voluntary winding up under section 88 of the Building Societies Act 1986).”.

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Source: https://www.legislation.gov.uk/uksi/2015/428/schedule/2/paragraph/9 (the official version)
Page: https://openlegislation.uk/financial-services-banking-reform-act-2013-commencement-no-8-and-consequential-provisions-order-2015/schedule-2/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.