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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 116

Cancellation of registration at request of building society.

116.(1) Subject to the following provisions of this section, where the
registration of a building society is cancelled or suspended under
section 114, or is cancelled under section 115, then as from the time of the
cancellation or suspension (but, in the case of a suspension, only so long as
the suspension continues) the society shall absolutely cease to enjoy as such
the privileges of a building society.

(2) Subsection (1) shall have effect subject to the right of appeal under
section 114(6).

(3) Subsection (1) shall have effect in relation to a building society without
prejudice to any liability actually incurred by the society; and any such
liability may be enforced against the society as if the cancellation or
suspension had not taken place.

© 1967 Crown Copyright

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