(1)A registered society may by special resolution determine to—
(a)convert itself into a company,
(b)amalgamate with a company, or
(c)transfer its engagements to a company.
In this section “company” means a company under the Companies Acts.
(2)A registered society’s registration under this Act becomes void and (subject to section 126) must be cancelled by the FCA if the society—
(a)is registered as a company,
(b)amalgamates with a company, or
(c)transfers all its engagements to a company.
(3)Section 113 contains provisions about special resolutions under this section.
(4)Section 114 contains further provisions about the conversion of a society into a company.
(5)An amalgamation or transfer of engagements does not prejudice any right of a creditor of the society.