SCHEDULES

SCHEDULE 10Application of Companies Winding Up Legislation to Incorporated Friendly Societies

Part IIIModified Application of Insolvency (Northern Ireland) Order 1989

Members of a friendly society as contributories in winding up

38(1)Article 61 (liability of members) of the Order 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 an incorporated friendly society in a winding up shall not exceed the extent of his liability under paragraph 8 of Schedule 3 to this Act.