[F199Dissolution of societyS
(1)This section applies where the society proposes an instrument of dissolution of the society (within the meaning of section 119 of the Co-operative and Community Benefit Societies Act 2014).
(2)The society must consult its tenants in relation to the proposed dissolution before seeking the approval of the instrument for the purposes of section 119 of that Act.
(3)The Financial Conduct Authority may register an instrument of dissolution of the society under section 121 of the Co-operative and Community Benefit Societies Act 2014, or cause notice of the dissolution to be advertised under section 122 of that Act, only if—
(a)the society confirms that it consulted its tenants as mentioned in subsection (2), and
(b)a copy of the confirmation accompanies the instrument sent to the Financial Conduct Authority for the purposes of section 121 of that Act.
(4)The society must, as soon as reasonably practicable after sending the instrument to the Financial Conduct Authority, give notice of the dissolution to the Regulator.
(5)The Regulator must issue guidance in relation to consultation for the purpose of subsection (2).
(6)A society must, in consulting tenants for that purpose, have regard to guidance issued under subsection (5).]
Textual Amendments
F1S. 99 substituted (8.3.2019) by Housing (Amendment) (Scotland) Act 2018 (asp 13), ss. 6(6), 11(2); S.S.I. 2018/253, reg. 2(2) (with reg. 8)
Commencement Information
I1S. 99 in force at 1.4.2012 by S.S.I. 2012/39, art. 2, Sch. 1 (with Sch. 2)