# Building Societies Act 1986, Paragraph 23

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

(1) Section 25 of the Act (approval of substantial revisions) as applied to a building society has effect as if—
(a) subsection (2) required the administrator to send a statement in the prescribed form of his proposed revisions to the FCA, to the PRA and to the scheme manager; and
(b) the reference in that subsection to a meeting of creditors included a reference to a meeting of holders of shares in the society.
(2) In subsection (3) 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/23 (the official version)
Page: https://openlegislation.uk/building-societies-act-1986/schedule-15A/paragraph-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.