✓ Passed into LawLords
UK Parliament · Bill
Mutuals' Deferred Shares Act 2015
Summary
This Act allows mutual organisations to create and sell special types of shares called 'deferred shares' to raise money. These shares have limited voting rights and don't get the same benefits as regular member shares, helping mutuals finance growth while members keep main control of the organisation.
A vote to support means
- —Supporting this Act means allowing mutual organisations (like building societies and credit unions owned by their members) to issue special shares that give members ownership benefits. Supporters believe this helps these organisations raise money and grow while staying member-focused, rather than converting to banks.
A vote to oppose means
- —Critics worry that deferred shares could dilute member ownership and control, or create confusion about who actually owns the organisation. Some fear it might be a step towards mutuals eventually becoming traditional companies, reducing member benefits.
Cast Your Vote
People's Vote0 votes
0% Support · 00% Oppose · 0
Bill Passage
Commons
- 1st reading17 Dec 2014
- 2nd reading9 Jan 2015
- Committee stage4 Feb 2015
- Report stage6 Mar 2015
- 3rd reading6 Mar 2015
Lords
- 1st reading5 Jun 2014
- 2nd reading24 Oct 2014
- Committee stage21 Nov 2014
- Report stage8 Dec 2014
- 3rd reading16 Dec 2014
Royal Assent26 Mar 2015
Full Bill Description(click to expand)
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