Options Considered
7.Options were considered in relation to each proposal: registration of Societies; share capital; protection of societies; protection of third parties; accounting and audit matters, and insolvency arrangements. In each case, options included maintaining the current position and introducing provisions to bring the regulation of Industrial and Provident Societies in Northern Ireland into line with the parallel regulatory regime in Great Britain. The provisions detailed below, under ‘Main Elements of the Order’, represent the Department’s preferred options.
