Article 2 Interpretation

In this Order–

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

• “old deferred shares” means shares issued by a building society on or before 31st December 1986 on the terms set out in paragraph 2 of Schedule 1 to the previous regulations;

• “new deferred shares” means shares of the class defined for the purposes of section 119(1) of the Act by the Building Societies (Deferred Shares) Order 1989^f1;

• “the previous regulations” means the Building Societies (Authorisation) Regulations 1981^f2 or the Building Societies (Authorisation) Regulations (Northern Ireland) 1982^f3.