# Building Societies Act 1986, Paragraph 21

Extent: E+W+S+N.I.

(1) Subsection (1) of section 23 of the Act (statement of proposals) as applied to a building society has effect as if—
(a) the reference to the Financial Conduct Authority included a reference to the scheme manager;
(b) the reference to all creditors included a reference to all holders of shares in the society; and
(c) the reference to a meeting of the society’s creditors included a reference to a meeting of holders of shares in the society.
(2) In subsection (2) of that section as so applied, references to members of the society do not include references to holders of shares in the society.

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Source: https://www.legislation.gov.uk/ukpga/1986/53/schedule/15A/paragraph/21 (the official version)
Page: https://openlegislation.uk/building-societies-act-1986/schedule-15A/paragraph-21
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.