# The Building Societies (Deferred Shares) Order 1989, Article 2: Interpretation


(1) In this Order–
“the Act” means the Building Societies Act 1986;
“approved”, in relation to a resolution of the directors of the society means approved by the Commission prior to the passing thereof;
“dividend” means any distribution in respect of shares in the society other than interest or return of capital;
“society” in relation to deferred shares means a building society which proposes to issue or, as the case may be, has issued shares of a class which complies with article 3 below;
“the specified shares” means shares of a class which complies with article 3 below and “other shares” means shares issued by the society of a class which does not comply with article 3 below.
“subordinated debt” has the meaning assigned to that expression in paragraph 4 of Part III of the Schedule to the Building Societies (Supplementary Capital) Order 1988.
(2) For the purposes of this Order–
(a) a return on a share means the interest, dividend or combination of interest and dividend in respect of that share,
(b) the rate of return in relation to a share, means the percentage of the principal amount of that share represented by the return on it; and
(c) the return on a share in respect of a period shall be taken to accrue from day to day during that period.

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Source: https://www.legislation.gov.uk/uksi/1989/207/article/2 (the official version)
Page: https://openlegislation.uk/building-societies-deferred-shares-order-1989/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.