{
  "url": "https://openlegislation.uk/building-societies-deferred-shares-order-1991/article-2",
  "json_url": "https://openlegislation.uk/building-societies-deferred-shares-order-1991/article-2.json",
  "legislation": "uksi/1991/701",
  "legislation_title": "The Building Societies (Deferred Shares) Order 1991",
  "legislation_url": "https://openlegislation.uk/building-societies-deferred-shares-order-1991",
  "path": "article/2",
  "kind": "article",
  "number": "2",
  "heading": "Interpretation",
  "text": "In this Order unless the context otherwise requires—\n“the Act” means the Building Societies Act 1986;\n“creditors”, in relation to a society extends to members holding shares in the society, other than deferred shares, as regards the principal of those shares and all interest due thereon in accordance with their terms;\n“issue terms” in relation to an issue of deferred shares means the provisions of a document which sets out, or of a connected series of documents which set out, the rights and obligations of the society and shareholders in respect of those shares;\n“relevant consent” means consent applied for by the society otherwise than in consequence of a provision among the issue terms requiring the society so to apply or granting the society any benefit for so applying or imposing a sanction against failure so to apply;\n“the Schedule” means the Schedule to this Order; and\n“society” in relation to deferred shares means a society which proposes to issue or, as the case may be, has issued, such shares.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1991/701/article/2",
    "retrieved_at": "2026-10-29T14:47:48.944858+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}