Building Societies Act, 1976

Order by Court regarding direction under section 31 or 32.

33.—(1) A society to which a direction is given under section 31 or 32 may apply to the Court for an order setting aside the direction and the Court may grant such an order.

(2) The Registrar may apply to the Court for an order confirming a direction under section 31 or 32 or for an order confirming and extending the period of operation of a direction under section 31 for such time as the Court may, having regard to all the circumstances, consider appropriate, and the Court may grant such an order.

(3) The Court may, in addition to or in lieu of making an order under subsection (2), make such other order in relation to the matter as may appear to it to be necessary.

(4) Where an order is made under subsection (2) confirming and extending the period of operation of a direction under section 31, the society shall be deemed for the purposes of section 95 to be unable to pay its debts.

(5) The whole or part of proceedings under this section or of an appeal in relation thereto may be heard in chambers.