[F1102Conversion of company into a registered societyS
(1)This section applies in relation to the conversion of the company into a registered society under section 115 of the Co-operative and Community Benefit Societies Act 2014.
(2)The company must consult its tenants on the proposed conversion before passing a special resolution for the conversion of the company into a registered society under section 115 of that Act.
(3)Such a special resolution has effect only if—
(a)the company confirms that it consulted its tenants as mentioned in subsection (2), and
(b)a copy of the confirmation accompanies the resolution sent to the registrar of companies in accordance with section 115(5) of the Co-operative and Community Benefit Societies Act 2014.
(4)The company must, as soon as reasonably practicable after sending the resolution to the registrar of companies, give notice of the conversion to the Regulator.
(5)The new registered society created in pursuance of the resolution is to be included in the register (and is to be treated as so included pending such inclusion).
(6)The Regulator must issue guidance in relation to consultation for the purpose of subsection (2).
(7)A company must, in consulting tenants for that purpose, have regard to guidance issued under subsection (6).]
Textual Amendments
F1S. 102 substituted (8.3.2019) by Housing (Amendment) (Scotland) Act 2018 (asp 13), ss. 6(10), 11(2); S.S.I. 2018/253, reg. 2(2) (with reg. 8)