12(1)This paragraph applies to an industrial and provident society whose registration as a social landlord has been recorded by the [F1Financial Services Authority].E+W+S
(2)The [F2Financial Services Authority] shall not register a special resolution which is passed for the purposes of—
(a)section 50 of the M1Industrial and Provident Societies Act 1965 (amalgamation of societies),
(b)section 51 of that Act (transfer of engagements between societies), or
(c)section 52 of that Act (power of a society to convert itself into, amalgamate with or transfer its engagements to a company registered under the Companies Act 1985),
unless, together with the copy of the resolution, there is sent to [F3it] a copy of the [F4Relevant Authority’s] consent to the amalgamation, transfer or conversion.
(3)Any new body created by the amalgamation or conversion or, in the case of a transfer of engagements, the transferee, shall be deemed to be registered as a social landlord forthwith upon the amalgamation, conversion or transfer taking effect.
(4)If the society resolves by special resolution that it be wound up voluntarily under the M2Insolvency Act 1986, the resolution has no effect unless—
(a)before the resolution was passed the [F4Relevant Authority] gave its consent to its passing, and
(b)a copy of the consent is forwarded to the [F5Financial Services Authority] together with a copy of the resolution required to be so forwarded in accordance with the Companies Act 1985.
(5)If the society is to be dissolved by instrument of dissolution, the [F6Financial Services Authority] shall not—
(a)register the instrument in accordance with section 58(5) of the M3Industrial and Provident Societies Act 1965, or
(b)cause notice of the dissolution to be advertised in accordance with section 58(6) of that Act,
unless together with the instrument there is sent to [F7it] a copy of the [F4Relevant Authority’s] consent to its making.
(6)The references in this paragraph to the [F4Relevant Authority’s] consent [F8are—
(a)if it is given by the Housing Corporation, to consent given by order under its seal, and
(b)if it is given by the Secretary of State, to consent given by order in writing.]
Textual Amendments
F1Words in Sch. 1 para. 12(1) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(a)
F2Words in Sch. 1 para. 12(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(b)(i)
F3Word in Sch. 1 para. 12(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(b)(ii)
F4Words in Pt. I substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 82(1)(2) (with ss. 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5.
F5Words in Sch. 1 para. 12(4)(b) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(c)
F6Words in Sch. 1 para. 12(5) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(d)(i)
F7Word in Sch. 1 para. 12(5) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 357(3)(d)(ii)
F8Sch. 1 para. 12(6)(a)(b) and the word “are” immediately preceding substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 96(3) (with ss. 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 5.
Marginal Citations