UK: The Mutuals’ Deferred Shares Act 2015

The Mutuals’ Deferred Shares Bill received Royal Assent yesterday: see here. A copy of the new Act is available here or here (pdf). The Act gives the Treasury the power, through secondary legislation, to permit or facilitate the issue of deferred shares by a friendly society or mutual insurer. For further background information, see the briefing paper provided by the Commons Library and available here.