(1)The [F1Financial Conduct Authority] may register a special resolution passed by the society for the purposes of a restructuring provision only if—
(a)the Regulator consents to the special resolution, and
(b)a copy of the consent accompanies the copy special resolution sent to the [F1Financial Conduct Authority] for the purposes of the Co-operative and Community Benefit Societies and Credit Unions Act 1965 (c.12).
“restructuring provision” means any of the following provisions of the Co-operative and Community Benefit Societies and Credit Unions Act 1965 (c.12)—
section 50 (amalgamation)
section 51 (transfer of engagements)
section 52 (conversion into or amalgamation with registered company)
(2)Any new body created, or to whom engagements are transferred, in pursuance of the special resolution is to be included in the register (and is to be treated as so included pending such inclusion).
Textual Amendments
F1Words in s. 97(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 11 para. 10(3)(4)(g) (with Sch. 12)
Commencement Information
I1S. 97 in force at 1.4.2012 by S.S.I. 2012/39, art. 2, Sch. 1 (with Sch. 2)