Preliminary
6 In this Part of this Schedule, the [1986 c. 45.] Insolvency Act 1986 is referred to as "the Act".
Voluntary arrangements
7 Section 1 of the Act (proposals for voluntary arrangements) has effect as if -
(a) it required any proposal under Part I of the Act to be so framed as to enable a building society to comply with the requirements of this Act; and
(b) any reference to debts included a reference to liabilities owed to the holders of shares in a building society.
8 In section 2 (procedure where nominee is not liquidator or administrator) and section 3 (summoning of meetings) of the Act as applied to a building society, any reference to a meeting of the society is a reference to -
(a) a meeting of both shareholding and borrowing members of the society; and
(b) a meeting of shareholding members alone.
9 In section 6 of the Act (challenge of decisions) as applied to a building society, "contributory" -
(a) means every person liable to contribute to the assets
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