# The Building Societies (Deferred Shares) Order 1991, Article 2: Interpretation


In this Order unless the context otherwise requires—
“the Act” means the Building Societies Act 1986;
“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;
“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;
“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;
“the Schedule” means the Schedule to this Order; and
“society” in relation to deferred shares means a society which proposes to issue or, as the case may be, has issued, such shares.

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Source: https://www.legislation.gov.uk/uksi/1991/701/article/2 (the official version)
Page: https://openlegislation.uk/building-societies-deferred-shares-order-1991/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.