The Mutuals' Deferred Shares Act 2015 (c. 13) is an act of the Parliament of the United Kingdom.
Legislative passage The legislation was passed as a private member's bill.
Provisions The act allows financial services mutuals to issue deferred shares.
The act ensures that:
these shares are permanent there shares confer membership on holders institutional investors are enabled to become members of these firms a member cannot have more than one vote as a result of holding the shares investing members that did not trade with the business are excluded from any membership votes related to mergers or dissolution
Implementation The act remains unusable, because it was not commenced, because of concerns raised by HM Revenue and Customs.
See also Co-operatives and Community Benefit Societies Act 2003
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