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The Industrial and Provident Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

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PART 1General modifications

1.  Unless the context otherwise requires and subject to any further modification in this Schedule, in Parts 1 and 2 of the 1986 Act

(a)a reference to a provision of that Act or to Part 26 of the 2006 Act is a reference to that provision or that Part as applied in relation to a relevant society;

(b)an expression defined in that Act (but not an expression modified by this paragraph) has the meaning given in the Act with the modification that a reference to a company includes a reference to a relevant society;

(c)a reference to a company includes a reference to a relevant society;

(d)a reference to a company registered in England and Wales includes a reference to a relevant society whose registered office is situated in England and Wales;

(e)a reference to a company registered in Scotland includes a reference to a relevant society whose registered office is situated in Scotland;

(f)a reference to a company’s creditors does not include a reference to a member of a relevant society to whom an amount is owed by the society if, but only in so far as, the amount concerned is owed in respect of the member’s shares;

(g)a reference to the directors of a company is a reference to the members of the committee of a relevant society;

(h)a reference to a meeting of a company or of the members of a company is a reference to a general meeting of a relevant society and, in relation to a society whose rules allow the members to appoint delegates for meetings of the society or its members, includes a reference to a general meeting for which delegates have been appointed;

(i)a reference to a member of a company is a reference to a person whose name is entered as a member in the register kept by a relevant society in accordance with section 44(1) of the 1965 Act (register of members and officers)(1);

(j)a reference to an officer of a company is a reference to an officer of a relevant society; and

(k)a reference to the registrar of companies is a reference to the FCA in its capacity as the authority responsible for the registration of a relevant society under the 1965 Act.

(1)

Section 44(1) was amended by S.I. 2011/593.

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