Section 39(2).

Preliminary

28 In this Part of this Schedule, the [S.I. 1989/2405 (N.I.19).] Insolvency (Northern Ireland) Order 1989 is referred to as "the Order".

Voluntary arrangements

29 Article 14 of the Order (proposals for voluntary arrangements) has effect as if -

(a) it required any proposal under Part II of the Order 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.

30 In Article 15 (procedure where nominee is not liquidator or administrator) and Article 16 (summoning of meetings) of the Order as applied to a building society, any reference to meetings 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.

31 In Article 19 of the Order (challenge of decisions) 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