- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
(1)On receiving under section 54 the copies of the special resolutions, the memorandum and articles as altered by the special resolutions and the statement, the registrar must (instead of recording the special resolutions and entering a new name on the register)—
(a)forward a copy of each of the documents to the Regulator, and
(b)retain them pending the Regulator’s decision.
(2)The alterations of the memorandum and articles made by the special resolutions are to take effect only as provided by this section.
(3)The Regulator must decide whether the company is eligible to cease being a community interest company.
(4)The company is eligible to cease being a community interest company if it has complied with section 54 and none of the following applies—
(a)the Regulator has under section 43 appointed an auditor to audit the company’s annual accounts and the audit has not been completed,
(b)civil proceedings instituted by the Regulator in the name of the company under section 44 have not been determined or discontinued,
(c)a director of the company holds office by virtue of an order under section 45,
(d)a director of the company is suspended under section 46(3),
(e)there is a manager in respect of the property and affairs of the company appointed under section 47,
(f)the Official Property Holder holds property as trustee for the company,
(g)an order under section 48(2) or (3) is in force in relation to the company,
(h)a petition has been presented for the company to be wound up.
(5)The Regulator must give notice of the decision to the registrar of companies (but the registrar is not required to record it).
(6)If the Regulator gives notice of a decision that the company is eligible to cease being a community interest company, section 28(6) of the Companies Act 1985 (c. 6) (registration of new name) applies; and if the registrar of companies enters the new name of the company on the register he must also retain and record the special resolutions and the statement.
(7)On the date on which the certificate of incorporation is issued the alterations to the company’s articles and memorandum made by the special resolutions take effect and the company ceases to be a community interest company.
(8)If the Regulator decides that the company is not eligible to cease being a community interest company, the company may appeal to the Appeal Officer against the decision.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: