- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/08/2014)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 06/04/2017
Point in time view as at 01/08/2014.
Housing and Regeneration Act 2008, Cross Heading: Restructuring and dissolution is up to date with all changes known to be in force on or before 30 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
This group of sections does not apply to local authorities.]
Textual Amendments
F1S. 159A inserted (1.4.2010) by The Housing and Regeneration Act 2008 (Registration of Local Authorities) Order 2010 (S.I. 2010/844), art. 1(2), Sch. 1 para. 33
(1)This section applies to a non-profit registered provider which is a registered company.
(2)A voluntary arrangement under Part 1 of the Insolvency Act 1986 (c. 45) in relation to the company is effective only if the regulator has first consented.
(3)An order under section 899 of the Companies Act 2006 (c. 46) (court sanction for compromise or arrangement)—
(a)is effective only if the regulator has first consented, and
(b)does not take effect until a copy of the consent is delivered to the registrar of companies.
(4)An order under section 900 of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation) is effective only if the regulator has first consented.
(5)The requirement in section 900(6) of the Companies Act 2006 (sending copy of order to registrar) is satisfied only if the copy is accompanied by a copy of the regulator's consent.
Commencement Information
I1S. 160 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies to a non-profit registered provider which is a registered company.
(2)The registrar of companies may register a resolution under [F3section 115 of the Co-operative and Community Benefit Societies Act 2014] for converting the company into [F4a registered society] only if—
(a)the regulator has consented to the resolution, and
(b)a copy of the consent accompanies the resolution as sent to the registrar.
(3)The regulator shall register the body created by the conversion and designate it as a non-profit organisation.
(4)Pending registration the body shall be treated as if it were registered and designated as a non-profit organisation.
Textual Amendments
F2Words 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)
F3Words in s. 161(2) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 127 (with Sch. 5)
F4Words 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)
Commencement Information
I2S. 161 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies to a non-profit registered provider which is a registered company.
(2)A special resolution for the voluntary winding-up of the company under the Insolvency Act 1986 (c. 45) is effective only if the regulator has first consented.
(3)The requirement under section 30 of the Companies Act 2006 (c. 46) (sending copy of resolution to registrar) is satisfied only if the copy is accompanied by a copy of the regulator's consent.
Commencement Information
I3S. 162 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies to a non-profit registered provider which is [F4a registered society].
(2)The [F5Financial 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.
[F6(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
F2Words 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)
F4Words 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)
F5Words 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)
F6S. 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
I4S. 163 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies to a non-profit registered provider which is [F4a registered society].
(2)A resolution for the voluntary winding-up of the society under the Insolvency Act 1986 is effective only if the regulator has first consented.
(3)The requirement in section 30 of the Companies Act 2006 (c. 46) (as applied by [F7section 123 of the Co-operative and Community Benefit Societies Act 2014] and section 84(3) of the Insolvency Act 1986) (sending copy of resolution to [F8Financial Conduct Authority]) is satisfied only if the copy is accompanied by a copy of the regulator's consent.
Textual Amendments
F2Words 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)
F4Words 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)
F7Words in s. 164(3) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 129 (with Sch. 5)
F8Words in s. 164(3) 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(4) (with Sch. 12)
Commencement Information
I5S. 164 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies to a non-profit registered provider which is—
(a)[F4a registered society], and
(b)to be dissolved by instrument of dissolution in accordance with [F9section 119 of the Co-operative and Community Benefit Societies Act 2014.]
(2)The [F10Financial Conduct Authority] may register the instrument under [F11section 121], or cause notice of the dissolution to be advertised under [F12section 122], only if—
(a)the regulator has consented to the dissolution, and
(b)a copy of the consent accompanies the instrument as sent to the Authority.
Textual Amendments
F2Words 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)
F4Words 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)
F9Words in s. 165(1)(b) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 130(2) (with Sch. 5)
F10Words in s. 165(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)(e) (with Sch. 12)
F11Words in s. 165(2) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 130(3)(a) (with Sch. 5)
F12Words in s. 165(2) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 130(3)(b) (with Sch. 5)
Commencement Information
I6S. 165 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies to a non-profit registered provider which is—
(a)a registered company, or
(b)[F4a registered society].
(2)The regulator may present a petition for the registered provider to be wound up under the Insolvency Act 1986 (c. 45) on any of the following grounds.
(3)Ground 1 is that the registered provider is failing properly to carry out its objects.
(4)Ground 2 is that the registered provider is unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986.
(5)Ground 3 is that the regulator has directed the registered provider under section 253 to transfer all its land to another person.
Textual Amendments
F4Words 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)
Commencement Information
I7S. 166 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies—
(a)where a non-profit registered provider which is [F4a registered society] is dissolved in accordance with [F13section 119 or 123 of the Co-operative and Community Benefit Societies Act 2014], and
(b)where a non-profit registered provider which is a registered company is wound up under the Insolvency Act 1986.
(2)Any surplus property that is available after satisfying the registered provider's liabilities shall be transferred—
(a)to the regulator, or
(b)if the regulator directs, to a specified non-profit registered provider.
(3)If land belonging to the registered provider needs to be sold to satisfy its liabilities, the regulator may discharge those liabilities so as to ensure that the land is instead transferred in accordance with subsection (2).
(4)Where the registered provider dissolved or wound up is a charity, a registered provider may be specified under subsection (2)(b) only if it is a charity whose objects the regulator thinks are similar to those of the original charity.
(5)This section has effect despite anything in—
F14(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)the Insolvency Act 1986,
(c)the Companies Act 2006 (c. 46),
[F15(ca)the Co-operative and Community Benefit Societies Act 2014,] or
(d)the constitution of a registered provider.
Textual Amendments
F4Words 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)
F13Words in s. 167(1)(a) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 131(2) (with Sch. 5)
F14S. 167(5)(a) omitted (1.8.2014) by virtue of Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 131(3)(a) (with Sch. 5)
F15S. 167(5)(ca) inserted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 131(3)(b) (with Sch. 5)
Commencement Information
I8S. 167 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
(1)This section applies to property transferred to the regulator in accordance with section 167(2)(a).
(2)The regulator may dispose of the property only to a non-profit registered provider.
(3)Where the registered provider wound up or dissolved was a charity, the regulator may dispose of the property only to a registered provider—
(a)which is a charity, and
(b)whose objects the regulator thinks are similar to those of the original charity.
(4)If the property includes land subject to a mortgage or charge, the regulator may dispose of the land—
(a)subject to that mortgage or charge, or
(b)subject to a new mortgage or charge in favour of the regulator.
Commencement Information
I9S. 168 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
The Secretary of State may by regulations provide for sections 167 and 168 to apply in relation to a registered provider which is a charity but not a registered company—
(a)in specified circumstances, and
(b)with specified modifications.
Commencement Information
I10S. 169 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)
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