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The Assets of Community Value (England) Regulations 2012

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Voluntary or community bodies

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5.—(1) For the purposes of section 89(2)(b)(iii) of the Act, but subject to paragraph (2), “a voluntary or community body” means—

(a)a body designated as a neighbourhood forum pursuant to section 61F of the Town and Country Planning Act 1990(1);

(b)a parish council;

(c)an unincorporated body—

(i)whose members include at least 21 individuals, and

(ii)which does not distribute any surplus it makes to its members;

(d)a charity;

(e)a company limited by guarantee which does not distribute any surplus it makes to its members;

(f)an industrial and provident society which does not distribute any surplus it makes to its members; or

(g)a community interest company(2).

(2) A public or local authority may not be a voluntary or community body, but this does not apply to a parish council.

(3) In this regulation “industrial and provident society” means a body registered or deemed to be registered under the Industrial and Provident Societies Act 1965(3) which meets one of the conditions in section 1 of that Act

(1)

1990 c.8. Section 61F was inserted by paragraphs 1 and 2 of Schedule 9 to the Localism Act 2011, with effect from 6th April 2012, in accordance with article 8(a) of the Localism Act 2011 (Commencement No. 4 and Transitional, Transitory and Saving Provisions) Order 2012, S.I. 2012/628.

(2)

A community interest company is a company which satisfies the requirements of Part 2 of the Companies (Audit, Investigations and Community Enterprise Act 2004 (c.27). See in particular sections 26, 35 and 36A. There have been amendments to section 26 and a substitution of section 36A which are not significant for these Regulations.

(3)

1965 c.12. There have been amendments to section 1 of the 1965 Act which are not significant for these Regulations. Section 1 of the Co-operative and Community Benefit Societies and Credit Unions Act 2010 (c.7) substitutes new wording for section 2 of the 1965 Act, and amends the title of that Act to the Co-operative and Community Benefit Societies and Credit Unions Act 1965, on a date to be appointed.

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