# The Building Societies (Prescribed Contracts) Order 1993, Paragraph 1


A society agrees with a participant (whether by a single agreement or by a series of agreements) that each will pay money to or to the order of the other on terms which are calculated to substitute for a cash flow of the society a different cash flow, whether the difference lies in the number or frequency of the payments or receipts (or combination of payments and receipts) comprising the cash flows, in the interest rates by which such payments or receipts are calculated, in the currency in which such payments are made or receipts are taken, or in any combination of those factors.

---
Source: https://www.legislation.gov.uk/uksi/1993/984/schedule/part/I/paragraph/1 (the official version)
Page: https://openlegislation.uk/building-societies-prescribed-contracts-order-1993/schedule/part-I/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.