Commentary

180 Presentation of petition for winding up

BUILDING SOCIETIES vol 6(1)
| Commentary

180 Presentation of petition for winding up

| Commentary

180 Presentation of petition for winding up

A petition for the winding up of a building society by the court may be presented by the Financial Services Authority, the building society or its directors, any creditor or creditors (including any contingent or any prospective creditor), or any contributory1 or contributories, or by all or any of these persons or bodies, either together or separately2.

A contributory may not present a petition unless either the number of members is reduced below ten, or the share in respect of which he is a contributory has been held by him,

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