Modifications etc. (not altering text)
C1Pt. 2 modified (1.4.2012) by Localism Act 2011 (c. 20), s. 240(2), Sch. 16 para. 69(2); S.I. 2012/628, art. 6(i) (with arts. 9 11 14 15 17)
(1)This section applies to a non-profit registered provider which is [F2a registered society].
(2)The [F3Financial Conduct Authority] may register a resolution passed by the society for the purposes of restructuring provisions listed in subsection (3) only if—
(a)the regulator has consented to the resolution, and
(b)a copy of the consent accompanies the resolution as sent to the Authority.
[F4(3)The following provisions of the Co-operative and Community Benefit Societies Act 2014 are the restructuring provisions—
(a)section 109 (amalgamation of societies);
(b)section 110 (transfer of engagements between societies);
(c)section 112 (conversion of society into a company etc).]
(4)Where a resolution is registered in accordance with subsection (2), any body created or to whom engagements are transferred—
(a)must be registered by the regulator and designated as a non-profit organisation, and
(b)pending registration shall be treated as registered and designated as a non-profit organisation.
Textual Amendments
F1Words in Act substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 123 (with Sch. 5)
F2Words in Act substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 122 (with Sch. 5)
F3Words in s. 163(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 11 para. 8(2), (3)(d) (with Sch. 12)
F4S. 163(3) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 128 (with Sch. 5)
Commencement Information
I1S. 163 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)