{
  "url": "https://openlegislation.uk/building-societies-deferred-shares-order-1991/schedule",
  "json_url": "https://openlegislation.uk/building-societies-deferred-shares-order-1991/schedule.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": "schedule",
  "kind": "schedule",
  "number": null,
  "heading": "THE KEY TERM FOR DEFERRED SHARES",
  "text": "The key term is a term which has effect so as to prohibit the repayment of any principal to the shareholders in respect of the shares save in either or each of the following events that is to say—\n(a) the winding up or dissolution of the society in circumstances where all sums due from the society to creditors claiming in the winding up or dissolution are paid in full;\n(b) the granting of relevant consent by the Commission.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "word substituted",
      "affecting": "uksi/2001/3649",
      "affecting_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/2013/496",
      "affecting_title": "The Financial Services Act 2012 (Mutual Societies) Order 2013"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1991/701/schedule",
    "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."
}