Part 8

Registered social landlords: organisational change etc.

Registered societies: restructuring, winding up and dissolution

Dissolution of society
99
1
This section applies where the society proposes an instrument of dissolution of the society (within the meaning of section 119 of the Co-operative and Community Benefit Societies Act 2014).
2
The society must consult its tenants in relation to the proposed dissolution before seeking the approval of the instrument for the purposes of section 119 of that Act.
3
The Financial Conduct Authority may register an instrument of dissolution of the society under section 121 of the Co-operative and Community Benefit Societies Act 2014, or cause notice of the dissolution to be advertised under section 122 of that Act, only if—
a
the society confirms that it consulted its tenants as mentioned in subsection (2), and
b
a copy of the confirmation accompanies the instrument sent to the Financial Conduct Authority for the purposes of section 121 of that Act.
4
The society must, as soon as reasonably practicable after sending the instrument to the Financial Conduct Authority, give notice of the dissolution to the Regulator.
5
The Regulator must issue guidance in relation to consultation for the purpose of subsection (2).
6
A society must, in consulting tenants for that purpose, have regard to guidance issued under subsection (5).
S. 99 in force at 1.4.2012 by S.S.I. 2012/39, art. 2, Sch. 1 (with Sch. 2)
S. 99 substituted (8.3.2019) by Housing (Amendment) (Scotland) Act 2018 (asp 13), ss. 6(6), 11(2); S.S.I. 2018/253, reg. 2(2) (with reg. 8)