# Building Societies Act 1986, Paragraph 27


Subsection (3) of section 40 of the Act (payment of debts out of assets subject to floating charge), as applied to a building society, has effect as if the reference to general creditors included a reference to shareholding members of the society in respect of deposits which are not relevant deposits.

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Source: https://www.legislation.gov.uk/ukpga/1986/53/schedule/15A/paragraph/27 (the official version)
Page: https://openlegislation.uk/building-societies-act-1986/schedule-15A/paragraph-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.