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Mutuals’ Redeemable and Deferred Shares Bill [HL]

Volume 754: debated on Thursday 5 June 2014

First Reading

A Bill to enable the law relating to societies registered under the Industrial and Providence Societies Act 1965 or the Friendly Societies Act 1992 and certain mutual insurers to be amended to permit and facilitate the use of new and additional classes of redeemable share capital and deferred share capital; to provide consequential rights to members of such societies or insurers; and to restrict the voting rights of certain members who hold such shares.

The Bill was introduced by Lord Naseby, read a first time and ordered to be printed.