Introduction
1.These explanatory notes relate to the Co-operatives and Community Benefit Societies Act 2003 which was introduced as a Private Member's Bill by Mr Mark Todd MP and sponsored in the House of Lords by Lord Carter, and received Royal Assent on 10th July 2003. They have been prepared by HM Treasury in order to assist the reader in understanding the Act. They do not form part of the Act and have not been endorsed by Parliament.
2.These notes need to be read in conjunction with the Act. They are not, and are not meant to be, a comprehensive description of the Act. So where a section or part of a section does not seem to require explanation or comment, none is given.