(1)A special resolution by the company under section 53 of the Co-operative and Community Benefit Societies and Credit Unions Act 1965 (c.12) has effect only if––
(a)the Regulator consents to the special resolution before it is passed, and
(b)a copy of the consent accompanies the resolution sent to the registrar of companies in accordance with section 53(4) of the Co-operative and Community Benefit Societies and Credit Unions Act 1965 (c.12).
(2)The new registered society created in pursuance of that resolution is to be included in the register (and is to be treated as so included pending such inclusion).