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The Assets of Community Value (England) Regulations 2012
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- UK Statutory Instruments
- 2012 No. 2421
- Regulation 5
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Voluntary or community bodiesE+W
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5.—(1) For the purposes of section 89(2)(b)(iii) of the Act, but subject to paragraph (2), “a voluntary or community body” means—
(a)a body designated as a neighbourhood forum pursuant to section 61F of the Town and Country Planning Act 1990(1);
(b)a parish council;
(c)an unincorporated body—
(i)whose members include at least 21 individuals, and
(ii)which does not distribute any surplus it makes to its members;
(d)a charity;
(e)a company limited by guarantee which does not distribute any surplus it makes to its members;
(f)[F1a co-operative or community benefit society] which does not distribute any surplus it makes to its members; or
(g)a community interest company(2).
(2) A public or local authority may not be a voluntary or community body, but this does not apply to a parish council.
[F2(3) In this regulation “co-operative or community benefit society” means a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014, other than a society registered as a credit union.]
Textual Amendments
F1Words in reg. 5(1)(f) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 32(a)
F2Reg. 5(3) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 32(b)
Commencement Information
I1Reg. 5 in force at 21.9.2012, see reg. 1(1)
(1)
1990 c.8. Section 61F was inserted by paragraphs 1 and 2 of Schedule 9 to the Localism Act 2011, with effect from 6th April 2012, in accordance with article 8(a) of the Localism Act 2011 (Commencement No. 4 and Transitional, Transitory and Saving Provisions) Order 2012, S.I. 2012/628.
(2)
A community interest company is a company which satisfies the requirements of Part 2 of the Companies (Audit, Investigations and Community Enterprise Act 2004 (c.27). See in particular sections 26, 35 and 36A. There have been amendments to section 26 and a substitution of section 36A which are not significant for these Regulations.
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