23. In paragraph 8 of Schedule 4 (legal proceedings)—
(a)sub-paragraph (3) shall be omitted;
(b)in sub-paragraph (4) for “section twenty-one of the Bankruptcy (Ireland) Amendment Act 1872, as amended by the Bankruptcy Amendment Act (Northern Ireland) 1929” substitute “Articles 241 to 244 of the Insolvency (Northern Ireland) Order 1989”.
24. In section 72(4) (which specifies the persons who may carry on the business of a pharmacist in the case of his death or disability) at the end add “or Chapter II of Part VIII of the Insolvency (Northern Ireland) Order 1989”.
25. In section 143(6) (provisions supplementary to sections 141 and 142) for “the provisions mentioned in subsection (2)” substitute “sections 141 and 142”.
26. In section 5(1)(a) (application of sections 6 to 11) for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”.
27. In section 15(1) (interim payments to policyholders of companies in liquidation, etc.) for “Article 493 of the Companies (Northern Ireland) Order 1986” substitute “Article 115 of the Insolvency (Northern Ireland) Order 1989”.
28. In section 16(1)(b) (companies in financial difficulties) for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”.
29. In section 35(2) (appeals to Court of Appeal from High Court) at the end insert—
“(j)without the leave of the High Court or of the Court of Appeal, from a decision of the High Court under the Insolvency (Northern Ireland) Order 1989”.
30. For section 106(1)(a) and (b) (rights of audience in High Court and Court of Appeal) substitute—
“(a)any matter relating to individual voluntary arrangements or bankruptcy under Parts VIII to X of the Insolvency (Northern Ireland) Order 1989;
(b)any matter relating to company voluntary arrangements, receivership or the winding up of a company under Parts II and IV to VII of that Order of 1989”.
31. In section 55(4) (stock relief) for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”.
32. In paragraph 1 of Schedule 5 (proceedings to which provisions relating to the allocation of proceedings within the United Kingdom to not apply) for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”.
33. In section 53 (winding up of insurance companies)—
(a)for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”;
(b)for “that Order of 1986” substitute “that Order of 1989”.
34. In section 54 (winding up of insurance company on petition of Department)—
(a)in subsection (2)—
(i)for “Companies (Northern Ireland) Order 1986” substitute “Part V or VI of the Insolvency (Northern Ireland) Order 1989”;
(ii)in paragraph (a) for “Articles 479 and 480 or Articles 616 to 619” substitute “Article 103 or Articles 186 to 188”;
(b)in subsection (4) for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”.
35. In section 55 (winding up of insurance companies with long term business)—
(a)in subsection (5) for “paragraphs (1) to (3) of Article 500 of the Companies (Northern Ireland) Order 1986” substitute “Article 143(2) of the Insolvency (Northern Ireland) Order 1989”;
(b)in subsection (6) for “Article 584 of the Companies (Northern Ireland) Order 1986” substitute “Article 176 of the Insolvency (Northern Ireland) Order 1989”.
36. In section 56 (continuation of long term business of insurance companies in liquidation)—
(a)in subsection (4)—
(i)for “Article 517(3) of the Companies (Northern Ireland) Order 1986” substitute “Article 151(5) of the Insolvency (Northern Ireland) Order 1989”;
(ii)for “Article 517 of the said Order of 1986” substitute “Article 151 of the said Order of 1989”;
(b)in subsection (7)—
(i)for “Article 499(1) of the said Order of 1986” substitute “Article 142 of, and Schedule 2 to, the Insolvency (Northern Ireland) Order 1989”;
(ii)for “committee of inspection” substitute “a specified committee”.
37. In section 59 (winding-up rules)—
(a)in subsection (1) for “Article 613 of the Companies (Northern Ireland) Order 1986” substitute “Article 359 of the Insolvency (Northern Ireland) Order 1989”;
(b)in subsection (2)—
(i)for “Article 613 of the said Order of 1986” substitute “Article 359 of the said Order of 1989”;
(ii)in paragraph (b) for “Article 570 of, and Schedule 18 to, the Companies (Northern Ireland) Order 1986” substitute “Articles 149 and 150 of, and Schedule 4 to, the Insolvency (Northern Ireland) Order 1989”.
38. In section 96(1), in the definition of “insolvent” for “Articles 479 and 480 or Article 616 of the Companies (Northern Ireland) Order 1986” substitute “Articles 102 and 103 or Article 185 of the Insolvency (Northern Ireland) Order 1989”.
39. In section 22 (refund of tax in cases of bad debts)—
(a)in subsection (2)(c) for the words from “a resolution” onwards substitute “a composition or scheme proposed by him is approved under Chapter II of Part VIII of the Insolvency (Northern Ireland) Order 1989 or, after his death, his estate falls to be administered in accordance with an order under Article 365 of that Order; or”;
(b)in subsection (3)(b) after “Great Britain” insert “or Northern Ireland”;
(c)in subsection (8) after “Insolvency Act 1985” insert “or Article 5(1) of the Insolvency (Northern Ireland) Order 1989”.
40. In section 79 (voluntary winding-up: transfer of shares) in subsection (1) after “1960” insert “Article 539 of the Companies (Northern Ireland) Order 1986 or Articles 96 and 97 of the Insolvency (Northern Ireland) Order 1989”.
41. In section 426 (co-operation between courts exercising jurisdiction in relation to insolvency)—
(a)in subsection (10)(c) for the words from “the Bankruptcy Acts” onwards substitute “the Insolvency (Northern Ireland) Order 1989”;
(b)at the end of subsection (11) insert—
“(12) In the application of this section to Northern Ireland—
(a)for any reference to the Secretary of State there is substituted a reference to the Department of Economic Development in Northern Ireland;
(b)in subsection (3) for the words “another part of the United Kingdom” and the words “that other part” there is substituted the words “Northern Ireland”;
(c)for subsection (9) there is substituted the following subsection—
“(9) An order made under subsection (3) by the Department of Economic Development in Northern Ireland shall be a statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 and shall be subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954.”.”
42. In section 26(1)(c) (for the purposes of the protective scheme when a building society becomes insolvent) for “Article 541 of the Companies (Northern Ireland) Order 1986” substitute “Article 81 of the Insolvency (Northern Ireland) Order 1989”.
43. In section 28 (insolvent building society liable where Board makes an insolvency payment)—
(a)in subsection (8)(c) for “the Official Assignee for company liquidation” substitute “the Official Receiver for Northern Ireland”;
(b)in subsection (9)(b) for “Article 613 of the Companies (Northern Ireland) Order 1986” substitute “Article 359 of the Insolvency (Northern Ireland) Order 1989”.
44. In section 100(6)(b) (priority rights on transfer of business from building society to company) for “Article 570 of the Companies (Northern Ireland) Order 1986” substitute “the Insolvency (Northern Ireland) Order 1989”.
45. In Schedule 15 (application of companies winding up legislation to building societies)—
(a)in paragraph 1—
(i)for sub-paragraph (b) substitute—
“(b)Articles 5 to 8 of Part I and Parts V, VII and XI of the Insolvency (Northern Ireland) Order 1989; or”;
(ii)for “Articles 678 of, and Schedule 23 to, the Companies (Northern Ireland) Order 1986” substitute “Articles 2(6) and 373 of, and Schedule 7 to, the Insolvency (Northern Ireland) Order 1989”;
(b)in paragraph 5 for “Article 614 of the Companies (Northern Ireland) Order 1986” substitute “Article 362 of the Insolvency (Northern Ireland) Order 1989”;
(c)for paragraphs 34 to 55 substitute—
34. In this Part of this Schedule, Part V of the Insolvency (Northern Ireland) Order 1989 is referred to as “Part V”, that Order is referred to as “the Order” and references to “Articles” are references to Articles of that Order.
35.—(1) Article 61 (liability of members) is modified as follows.
(2) In paragraph (1), the reference to any past member shall be omitted.
(3) Sub-paragraphs (a) to (d) of paragraph (2) shall be omitted; and so shall paragraph (3).
(4) The extent of the liability of a member of a building society in a winding up shall not exceed the extent of his liability under paragraph 6 of Schedule 2 to this Act.
36. Articles 62 to 65 and 69 in Chapter I of Part V (miscellaneous provisions not relevant to building societies) do not apply.
37. In the enactments as applied to a building society, “contributory”—
(a)means every person liable to contribute to the assets of the society in the event of its being wound up, and
(b)for the purposes of all proceedings for determining, and all proceedings prior to the determination of, the persons who are to be deemed contributories, includes any person alleged to be a contributory, and
(c)includes persons who are liable to pay or contribute to the payment of—
(i)any debt or liability of the building society being wound up, or
(ii)any sum for the adjustment of rights of members among themselves, or
(iii)the expenses of the winding up;
but does not include persons liable to contribute by virtue of a declaration by the Court under Article 177 (imputed responsibility for fraudulent trading) or Article 178 (wrongful trading).
38.—(1) Article 70 does not apply.
(2) In the enactments as applied to a building society, the expression “resolution for voluntary winding up” means a resolution passed under section 88(1) of this Act.
39. In paragraph (1) of Article 87 (appointment of liquidation committee), the reference to functions conferred on a liquidation committee by or under the Order shall have effect as a reference to its functions by or under the Order as applied to building societies.
40.—(1) Article 93 (distribution of property) does not apply; and the following applies in its place.
(2) Subject to the provisions of Part V relating to preferential payments, a building society’s property in a voluntary winding up shall be applied in satisfaction of the society’s liabilities to creditors (including any liability resulting from the variation to the liquidator’s duty effected by section 28 or 31 of this Act) pari passu and, subject to that application, in accordance with the rules of the society.
41. Articles 96 and 97 (liquidator accepting shares, etc., as consideration for sale of company property) do not apply.
42. Article 101 (saving for certain rights) shall also apply in relation to the dissolution by consent of a building society as it applies in relation to its voluntary winding up.
43. Article 102 (circumstances in which company may be wound up by the High Court) does not apply.
44. Article 104 (application for winding up) does not apply.
45.—(1) In Article 105 (powers of High Court on hearing of petition), paragraph (1) applies with the omission of the words from “but the Court” to the end of the paragraph.
(2) The conditions which the High Court may impose under Article 105 include conditions for securing—
(a)that the building society be dissolved by consent of its members under section 87, or
(b)that the society amalgamates with, or transfers its engagements to, another building society under section 93 or 94, or
(c)that the society transfers its business to a company under section 97,
and may also include conditions for securing that any default which occasioned the petition be made good and that the costs of the proceedings on that petition be defrayed by the person or persons responsible for the default.
46. Article 106 (power of High Court, between petition and winding-up order, to stay or restrain proceedings against company) has effect with the omission of paragraph (2).
47. If, before the presentation of a petition for the winding up by the High Court of a building society, an instrument of dissolution under section 87 is placed in the society’s public file, Article 109(1) (commencement of winding up by the High Court) shall also apply in relation to the date on which the instrument is so placed and to any proceedings in the course of the dissolution as it applies to the commencement date for, and proceedings in, a voluntary winding up.
48.—(1) Article 110 (consequences of winding-up order) shall have effect with the following modifications.
(2) Paragraphs (1) and (3) shall be omitted.
(3) A building society shall, within 15 days of a winding-up order being made in respect of it, give notice of the order to the central office; and the central office shall keep the notice in the public file of the society.
(4) If a building society fails to comply with sub-paragraph (3) above, it shall be liable on summary conviction to a fine not exceeding level 3 on the standard scale; and so shall any officer who is also guilty of the offence.
49. Article 119 (appointment of liquidator by High Court in certain circumstances) does not apply.
50. In the application of Article 120(1) (liquidation committee) to building societies, the references to functions conferred on a liquidation committee by or under the Order shall have effect as references to its functions by or under the Order as so applied.
51. The conditions which the High Court may impose under Article 125 (power to stay winding up) shall include those specified in paragraph 45(2) above.
52. Article 132 (adjustment of rights of contributories) shall have effect with the modification that any surplus is to be distributed in accordance with the rules of the society.
53. In Article 140(2) (liquidator’s powers), the reference to an extraordinary resolution shall have effect as a reference to a special resolution.
54. Article 158 (power to make over assets to employees) does not apply.
55.—(1) In Article 166 (dissolution: voluntary winding up), paragraph (2) applies without the words from “and on the expiration” to the end of the paragraph and, in paragraph (3), the word “However” shall be omitted.
(2) Articles 167 and 168 (early dissolution) do not apply.
55A. In Article 169 (dissolution: winding up by the High Court) paragraph (1) applies with the omission of the words from “and, subject” to the end of the paragraph; and in paragraphs (2) and (3) references to the Department shall have effect as references to the Commission.
55B. Articles 180 and 181 (restriction on re-use of name) do not apply.
55C.—(1) Articles 182 and 183 (prosecution of delinquent officers) do not apply in relation to offences committed by members of a building society acting in that capacity.
(2) Article 182(4) and paragraphs (1) and (2) of Article 183 do not apply.
(3) The references in paragraphs (3) and (5) of Article 183 to the Department shall have effect as references to the Commission; and the reference in paragraph (3) to Article 182 shall have effect as a reference to that Article as supplemented by paragraph 55D below.
55D.—(1) Where a report is made to the prosecuting authority (within the meaning of Article 182) under Article 182(3), in relation to an officer of a building society, he may, if he thinks fit, refer the matter to the Commission for further enquiry.
(2) On such a reference to it the Commission shall exercise its power under section 55(1) of this Act to appoint one or more investigators to investigate and report on the matter.
(3) An answer given by a person to a question put to him in exercise of the powers conferred by section 55 on a person so appointed may be used in evidence against the person giving it.
55E. Article 347 (meaning in Schedule 4 of “the relevant date”) applies with the omission of paragraphs (2) and (4) to (6).”;
(d)in paragraph 56—
(i)in sub-paragraph (1)(b) for “543 or (as the case may be) 553 of the Companies (Northern Ireland) Order 1986” substitute “80 or (as the case may be) 92 of the Insolvency (Northern Ireland) Order 1989”;
(ii)in sub-paragraph (2)(a) after “societies)” insert “or, as the case may be, Article 146(7) of the Insolvency (Northern Ireland) Order 1989 (as applied to building societies)”;
(iii)in sub-paragraph (2)(b) for “Official Assignee for company liquidations” substitute “official receiver for Northern Ireland”;
(iv)in sub-paragraph (2) after “that Act” insert “or Article 169 of that Order”;
(e)in paragraph 59—
(i)in sub-paragraph (1) for “Article 615 of the Companies (Northern Ireland) Order 1986” substitute “Article 359 of the Insolvency (Northern Ireland) Order 1989”;
(ii)for sub-paragraph (2) substitute—
“(2) An order made by the Department of Economic Development under Article 361 of the Insolvency (Northern Ireland) Order 1989 may make provision for fees to be payable under that Article in respect of proceedings under the applicable winding-up legislation and the performance by the official receiver for Northern Ireland or that Department of functions under it.”.
46. In section 54(6)(c) (rules establishing scheme for compensation) for “Article 613 of the Companies (Northern Ireland) Order 1986” substitute “Article 359 of the Insolvency (Northern Ireland) Order 1989”.
47. In section 73 (winding up orders: Northern Ireland)—
(a)in subsection (1)(a) for the words from “Article 480” onwards substitute “Article 103 or, as the case may be, Article 185 of the Insolvency (Northern Ireland) Order 1989”;
(b)in subsection (2)—
(i)in paragraph (b) for “Article 615 of that Order” substitute “Article 184 of the Insolvency (Northern Ireland) Order 1989”;
(ii)in paragraph (c) for “that Order” substitute “the Companies (Northern Ireland) Order 1986”;
(c)in subsection (4)—
(i)for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”;
(ii)for “Article 615” substitute “Article 184”.
48. In section 74 (administration orders) after “Act applies” insert “, or under Article 22 of the Insolvency (Northern Ireland) Order 1989 (applications for administration orders) in relation to a company to which Article 21 of that Order applies,”.
49. In section 11(8) (revocation of authorisation) at the end insert “or under Article 21 of the Insolvency (Northern Ireland) Order 1989”.
50. In section 58 (compensation payments to depositors)—
(a)in subsection (2)—
(i)after “1986” insert “or under Article 21 of the Insolvency (Northern Ireland) Order 1989”;
(ii)at the end insert “or, as the case may be, under Article 36 of that Order”;
(b)in subsection (8)(b)—
(i)in sub-paragraph (iv) omit the words “or of a committee” onwards;
(ii)after sub-paragraph (iv) insert—
“(v)to be a member of any committee established under Article 274 of the Insolvency (Northern Ireland) Order 1989; and
(vi)to be a member of a committee established for the purposes of Part V or VI of the Insolvency (Northern Ireland) Order 1989 under Article 87 of that Order or under Article 120 of that Order.”;
(c)in subsection (10)—
(i)in paragraph (a) after “1986” insert “or under Part III of the Insolvency (Northern Ireland) Order 1989”;
(ii)in paragraph (b)(i) after “Act” insert “or, as the case may be, Part III of that Order”;
(iii)in paragraph (b)(ii) at the end insert “or under Article 38 of that Order”.
51. In section 59 (meaning of insolvency)—
(a)in subsection (1)—
(i)in paragraph (b) for “Article 534 of the Companies (Northern Ireland) Order 1986” substitute “Article 75 of the Insolvency (Northern Ireland) Order 1989”;
(ii)in paragraph (c) for “Article 541” substitute “Article 81”;
(b)in subsection (2)(c) for “an order of adjudication of bankruptcy against any of the partners” substitute “a winding-up order against it under any provision of the Insolvency (Northern Ireland) Order 1989 as applied by an order under Article 364 of that Order”.
52. In section 62(8) (liability of institution in respect of compensation payments)—
(a)in paragraph (c) for “Article 613 of the Companies (Northern Ireland) Order 1986” substitute “Article 359 of the Insolvency (Northern Ireland) Order 1989”;
(b)at the end insert “or Part III of the Insolvency (Northern Ireland) Order 1989”.
53. In section 65(3) (power to obtain information) after “1986” insert “or Part III of the Insolvency (Northern Ireland) Order 1989”.
54. In the Table in section 84(1) (disclosure for facilitating discharge of functions by other supervisory authorities)—
(a)in the entry relating to the Department of Economic Development in Northern Ireland, in column 2, after “1986” insert “or Part XII of the Insolvency (Northern Ireland) Order 1989”;
(b)in the entry relating to the Official Receiver or, in Northern Ireland, the Official Assignee for company liquidations or for bankruptcy,—
(i)in column 1, for the words from “Assignee” onwards substitute “Receiver for Northern Ireland”;
(ii)in column 2, for “, bankruptcy order or order of adjudication of bankruptcy” substitute “or bankruptcy order”;
(c)at the end insert the following entry—
| “A recognised professional body (within the meaning of Article 350 of the Insolvency (Northern Ireland) Order 1989). | Functions in its capacity as such a body under the Insolvency (Northern Ireland) Order 1989.”. |
55. In section 85(1)(f) (other permitted disclosures) after “1986” insert “or Parts II to VII or IX and X of the Insolvency (Northern Ireland) Order 1989”.
56. In section 92 (winding up on petition from the Bank)—
(a)in subsection (3)(a) for the words from “Article 480” onwards substitute “Article 103 or, as the case may be, Article 185 of the Insolvency (Northern Ireland) Order 1989”;
(b)in subsection (4)—
(i)for “1986” substitute “1989”;
(ii)for “Article 615” substitute “Article 184”.
57. For section 3(6)(d) (disclosure of information) substitute—
“(d)the official receiver for Northern Ireland;”.
58. For section 54(5)(d) (disclosure of information) substitute—
“(d)the official receiver for Northern Ireland;”.
59. In section 293(5) (relief for investment in new corporate trades) for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989”.
60. In section 345(5) (computation of chargeable gains) for “496 of the Companies (Northern Ireland) Order 1986” substitute “123 of the Insolvency (Northern Ireland) Order 1989”.
61. In section 559 (deductions from payments to sub-contractors) subsection (6) shall be omitted.
62. In Schedule 4—
(a)in paragraph 31—
(i)in sub-paragraph (5)(a) for “Article 25 of the Bankruptcy Amendment (Northern Ireland) Order 1980” substitute “Article 160(2) or, as the case may be, Article 300(4) of the Insolvency (Northern Ireland) Order 1989”;
(ii)in sub-paragraph (8) in the definition of “the commencement of an insolvency” in head (c) after “Wales” insert “or in Northern Ireland”;
(b)in paragraph 33—
(i)in sub-paragraph (3) for the words from “Bankruptcy Acts” onwards substitute “Insolvency (Northern Ireland) Order 1989”;
(ii)for sub-paragraph (4)(b) substitute—
“(b)any question whether a person is acting as an insolvency practitioner in Northern Ireland shall be determined in accordance with Article 3 of the Insolvency (Northern Ireland) Order 1989, except that—
(i)paragraph (5) shall be disregarded; and
(ii)the expression shall also include the official receiver acting as receiver or manager of property.”;
(c)in paragraph 34 at the end of sub-paragraph (6) insert—
“(7) In the application of this paragraph to Northern Ireland—
(a)for any reference to the Secretary of State there is substituted a reference to the Department of Economic Development in Northern Ireland;
(b)in sub-paragraph (1) for the words “any part of the United Kingdom” and the words “that or any other part of the United Kingdom” there is substituted the words “Northern Ireland”;
(c)for sub-paragraph (4) there is substituted the following sub-paragraph—
“(4) An order made under this paragraph by the Department of Economic Development in Northern Ireland shall be a statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 and shall be subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954.”;
(d)in paragraph 35(1) in the definition of “qualifying insolvency proceedings”—
(i)in head (a) for “Companies (Northern Ireland) Order 1986” substitute “Insolvency (Northern Ireland) Order 1989” and for “Part XX” substitute “Part V”;
(ii)in head (b) after “Wales” insert “or in Northern Ireland” and after “1986 Act” insert “or Article 364 of the Insolvency (Northern Ireland) Order 1989”;
(iii)in head (d) after “Wales” insert “or in Northern Ireland” and after “1986 Act” insert “or Article 365 of the Insolvency (Northern Ireland) Order 1989”.”