(1)If, on any modification of the statutory provisions in force in Great Britain relating to companies, it appears to the Treasury to be expedient to modify the relevant statutory provisions for the purpose of assimilating the law relating to companies and the law relating to industrial and provident societies, the Treasury may, by order, make such modifications of the relevant statutory provisions as they think appropriate for that purpose.
(2)The “relevant statutory provisions” are the provisions of the Industrial and Provident Societies Acts 1965 to 1978 as for the time being in force except the following provisions of the 1965 Act—
(a)section 1 (societies which may be registered);
(b)section 10(1) (amendments of registered rules);
(c)sections 16 to 18 (cancellation, suspension or refusal of registration of society or rules);
(d)sections 23 to 27 (nominations, provision for intestacy, payment in respect of mentally incapable persons and validity of payments);
(e)sections 50 to 54 (amalgamation, transfer of engagements and conversions);
(f)section 55(b) (dissolution of registered society by instrument);
(g)section 56 (power of registrar to petition for winding up);
(h)section 58 (instrument of dissolution); and
(i)section 59 (restriction on dissolution or cancellation of registration of society).
(3)The power conferred by subsection (1) of this section includes power to modify the relevant statutory provisions so as to—
(a)confer power to make orders, regulations, rules or other subordinate legislation;
(b)create criminal offences; or
(c)provide for the charging of fees but not any charge in the nature of taxation.
(4)An order under this section may—
(a)make consequential amendments of or repeals in the provisions listed in subsection (2) of this section; or
(b)make such transitional or saving provisions as appear to the Treasury to be necessary or expedient.
(5)The power to make an order under this section shall be exercisable by statutory instrument and no such order shall be made unless a draft of it has been laid before and approved by a resolution of each House of Parliament.
(6)In this section—
“modification” includes any additions and, as regards modifications of the statutory provisions relating to companies, any modification whether effected by any future Act or by an instrument made after the passing of this Act under an Act whenever passed; and
“statutory provisions” except in the expression “relevant statutory provisions” includes the provisions of any instrument made under an Act.