Insolvency Bill [H.L.] - continued        House of Lords
SCHEDULE 2, COMPANY VOLUNTARY ARRANGEMENTS - continued

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  PART II
  AMENDMENTS OF THE BUILDING SOCIETIES ACT 1986
     13. - (1) The Commission may appoint one or more competent persons to investigate and report on any matter reported to the Commission under section 7A(2) of the Insolvency Act 1986; and section 55 of the Building Societies Act 1986 (investigations) applies to such a person and the investigations as it applies to a person appointed under section 55(1) and an investigation under that section.
 
      (2) Section 57(5) to (5B) of that Act (use in evidence of answers given to questions) applies to answers given under section 55(3) as extended by sub-paragraph (1) as it applies to answers given under section 57.
 
     14. - (1) Schedule 15A to the Building Societies Act 1986 (application of companies insolvency legislation to building societies) is amended as follows.
 
      (2) In paragraph 1(2)(a), after "Parts I" there is inserted "(except section 1A)".
 
      (3) At the end of paragraph 8 there is inserted-
 
 
    " and subsection (1) of section 2 shall have effect with the omission of the words from "and the directors" to the end.
 
     8A. In subsection (2) of section 4A of the Act (approval of arrangement) as applied to a building society, paragraph (b) and the word "or" immediately preceding that paragraph are omitted."
 
      (4) After paragraph 9 there is inserted-
 
 
    "9A. In section 7A of the Act (prosecution of delinquent officers) as applied to a building society-
 
 
    (a) in subsection (2), for paragraphs (i) and (ii) there is substituted "the Commission",
 
    (b) subsections (3) to (7) are omitted,
 
    (c) in subsection (8), for "Secretary of State" there is substituted "Commission"."
 
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