12(1)This paragraph applies to an industrial and provident society whose registration as a social landlord has been recorded by the [F1Financial Conduct Authority].E+W
(2)The [F1Financial Conduct Authority] shall not register a special resolution which is passed for the purposes of—
(a)section 50 of the M1Industrial and Provident Societies Act 1965 (amalgamation of societies),
(b)section 51 of that Act (transfer of engagements between societies), or
(c)section 52 of that Act (power of a society to convert itself into, amalgamate with or transfer its engagements to [F2a company]),
unless, together with the copy of the resolution, there is sent to [F3it] a copy of the [F4Relevant Authority’s] consent to the amalgamation, transfer or conversion.
(3)Any new body created by the amalgamation or conversion or, in the case of a transfer of engagements, the transferee, shall be deemed to be registered as a social landlord forthwith upon the amalgamation, conversion or transfer taking effect.
(4)If the society resolves by special resolution that it be wound up voluntarily under the M2Insolvency Act 1986, the resolution has no effect unless—
(a)before the resolution was passed the [F4Relevant Authority] gave its consent to its passing, and
(b)a copy of the consent is forwarded to the [F1Financial Conduct Authority] together with a copy of the resolution required to be so forwarded in accordance with [F5section 55(3) of the Industrial and Provident Societies Act 1965].
(5)If the society is to be dissolved by instrument of dissolution, the [F1Financial Conduct Authority] shall not—
(a)register the instrument in accordance with section 58(5) of the M3Industrial and Provident Societies Act 1965, or
(b)cause notice of the dissolution to be advertised in accordance with section 58(6) of that Act,
unless together with the instrument there is sent to [F6it] a copy of the [F4Relevant Authority’s] consent to its making.
(6)The references in this paragraph to the [F4Relevant Authority’s] consent [F7are—
(a)if it is given by the Housing Corporation, to consent given by order under its seal, and
(b)[F8Consent given by] the [F9Welsh Ministers] [F10under this paragraph shall be] given by order in writing.]
Textual Amendments
F1Words in Sch. 1 para. 12 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 11 para. 5(1)(2)(f) (with Sch. 12)
F2Words in Sch. 1 para. 12(2)(c) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 161(10)(a) (with art. 10)
F3Word in Sch. 1 para. 12(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(b)(ii)
F4Words in Pt. I substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 82(1)(2) (with ss. 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5.
F5Words in Sch. 1 para. 12(4)(b) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 161(10)(e) (with art. 10)
F6Word in Sch. 1 para. 12(5) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(d)(ii)
F7Sch. 1 para. 12(6)(a)(b) and the word “are” immediately preceding substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 96(3) (with ss. 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5.
F8Words in Sch. 1 para. 12(6)(b) substituted (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 106(4)(a) (with art. 6, Sch. 3)
F9Words in Sch. 1 para. 12(6) substituted (18.10.2011) by Housing (Wales) Measure 2011 (nawm 5), s. 90(2), Sch. para. 15; S.I. 2011/2475, arts. 1(2), 2(v)
F10Words in Sch. 1 para. 12(6)(b) substituted (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 106(4)(b) (with art. 6, Sch. 3)
Modifications etc. (not altering text)
C1Sch. 1 para. 12(6)(a) modified (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 5 (with art. 6)
Marginal Citations