http://www.legislation.gov.uk/uksi/2018/322/madeThe Co-operative and Community Benefit Societies Act 2014 (Amendments to Audit Requirements) Order 2018enKing's Printer of Acts of Parliament2018-03-07CO-OPERATIVE SOCIETIESCOMMUNITY BENEFIT SOCIETIES This Order amends the Co-operative and Community Benefit Societies Act 2014 (c.14) to increase, with effect from 6th April 2018, the thresholds below which registered societies under that Act are able to disapply the requirement to conduct an audit from £2.8 million in assets and £5.6 million of turnover to £5.1 million in assets and £10.2 million of turnover in order to assimilate with the thresholds for companies qualifying as small in relation to a financial year as provided in the Companies Act 2006 (c.46). The Co-operative and Community Benefit Societies Act 2014 (Amendments to Audit Requirements) Order 2017 2018 No. 322 Co-operative Societies Community Benefit Societies The Co-operative and Community Benefit Societies Act 2014 (Amendments to Audit Requirements) Order 2018 Made 6th March 2018 Coming into force 6th April 2018

The Treasury make the following Order in exercise of the powers conferred by section 134(1) and (2) of the Co-operative and Community Benefit Societies Act 2014.

It appears to the Treasury that it is expedient to make this Order to modify relevant provisions of that Act for the purpose of assimilating the law relating to companies and the law relating to registered societies.

 A draft of this Order has been laid before Parliament and approved by a resolution of each House of Parliament in accordance with section 147(2) of that Act. Citation and commencement 1 This Order may be cited as the Co-operative and Community Benefit Societies Act 2014 (Amendments to Audit Requirements) Order 2018 and comes into force on 6th April 2018. Amendments to the Co-operative and Community Benefit Societies Act 2014 2 In section 84(1) of the Co-operative and Community Benefit Societies Act 2014 (power of certain societies to disapply section 83)— a in paragraph (a), for “£2,800,000” substitute “£5,100,000”; b in paragraph (b), for “£5,600,000” substitute “£10,200,000”. Andrew Stephenson Nigel Adams Two of the Lords Commissioners of Her Majesty’s Treasury 6th March 2018 EXPLANATORY NOTE (This note is not part of the Order)

This Order amends the Co-operative and Community Benefit Societies Act 2014 (c.14) to increase, with effect from 6th April 2018, the thresholds below which registered societies under that Act are able to disapply the requirement to conduct an audit from £2.8 million in assets and £5.6 million of turnover to £5.1 million in assets and £10.2 million of turnover in order to assimilate with the thresholds for companies qualifying as small in relation to a financial year as provided in the Companies Act 2006 (c.46).

An impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sectors is foreseen.

 2014 c.14.