Article 2 Interpretation

In these Rules—

• “the Act” means the Building Societies Act 1986;

• “deposit liabilities” means liabilities in respect of deposits and, in relation to the deposit liabilities of an associated body of a society, “relevant deposit liabilities” means deposit liabilities which are neither represented by assets of the society nor incurred in the course of providing a service for the time being specified in Part I of Schedule 8 (Provision of Services) to the Act;

• “non-retail liabilities”, in respect of a society, means liabilities in respect of its non-retail funds and deposits;

• “retail liabilities”, in respect of a society, means liabilities, other than non-retail liabilities, in respect of shares in or money deposited with it; and

• “society” means a building society.