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PART II |
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AMENDMENTS OF THE BUILDING SOCIETIES ACT 1986 |
| | 13. - (1) The Commission may appoint one or more competent persons to investigate and report on any matter reported to the Commission under section 7A(2) of the Insolvency Act 1986; and section 55 of the Building Societies Act 1986 (investigations) applies to such a person and the investigations as it applies to a person appointed under section 55(1) and an investigation under that section.
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(2) Section 57(5) to (5B) of that Act (use in evidence of answers given to questions) applies to answers given under section 55(3) as extended by sub-paragraph (1) as it applies to answers given under section 57.
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| | 14. - (1) Schedule 15A to the Building Societies Act 1986 (application of companies insolvency legislation to building societies) is amended as follows.
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(2) In paragraph 1(2)(a), after "Parts I" there is inserted "(except section 1A)".
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(3) At the end of paragraph 8 there is inserted-
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"and subsection (1) of section 2 shall have effect with the omission of the words from "and the directors" to the end. |
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8A. In subsection (2) of section 4A of the Act (approval of arrangement) as applied to a building society, paragraph (b) and the word "or" immediately preceding that paragraph are omitted."
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(4) After paragraph 9 there is inserted-
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" 9A. In section 7A of the Act (prosecution of delinquent officers) as applied to a building society-
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(a) in subsection (2), for paragraphs (i) and (ii) there is substituted "the Commission", |
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(b) subsections (3) to (7) are omitted, |
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(c) in subsection (8), for "Secretary of State" there is substituted "Commission"." |
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