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17. Application of section 3 of Act of 1990

Section 3 of the Act of 1990 applies subject to -

(a) the substitution of the following subsections for subsections (1) and (2):

"(1) Subject to subsection (2), a petition under section 2 may be presented by -

(a) the society,

(b) the board of management or other directing body of the society,

(c) a creditor, or contingent or prospective creditor (including an employee), of the society, or

(d) not less than one tenth of the total number of members of the society, or, where the society has more than 1,000 members, not less than 100 members of the society,

or by all or any of those parties, together or separately.

(2)

(a) Where the society referred to in section 2 is an insurer, a petition under that section may be presented only by the Central Bank, and subsection (1) shall not apply to the society.

(b) Where the society referred to in section 2 is the holder of a licence under section 9 of the Central Bank Act 1971, a petition under section 2 may be presented only by the Central Bank,

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