(1) For the purpose of exercising the fifth stabilisation option in respect of a building society the Treasury may make one or more orders for the purposes of -

(a) arranging for deferred shares of a building society to be publicly owned,

(b) cancelling private membership rights in the building society,

(c) allowing the building society to continue in business while in public ownership, and

(d) eventually either winding up or dissolving the building society.

(2) For the purpose specified in subsection (1)(a) an order may -

(a) arrange for the transfer of existing deferred shares;

(b) provide for new deferred shares.

(3) For the purpose of arranging for the transfer of existing deferred shares an order may -

(a) provide for deferred shares to be transferred;

(b) make other provision for the purposes of, or in connection with, the transfer of deferred shares (whether or not the transfer has been or is to be effected by the order, by another order under this section or otherwise);

(c) relate to all or any specified class or description of deferred shares issued by the building society.

(4) For the purpose of providing for new deferred shares an order may -