There are currently no known outstanding effects for the The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014, Section 7.
7.—(1) Section 359 of FSMA (administration order) M1 applies in relation to a relevant society which—
(a)is or has been an authorised person; or
(b)is carrying on or has carried on a regulated activity in contravention of the general prohibition.
(2) For that purpose—
(a)in subsection (1) the words from “which” to the end are to be ignored; and
(b)except in the definition of “company” in subsection (4), a reference to a company is a reference to a relevant society of the kind described in paragraph (1).
Marginal Citations
M1Section 359 was substituted by the Enterprise Act 2002, Schedule 17, paragraphs 53 and 55; and was amended by the Financial Services Act 2012, Schedule 14, paragraphs 1 and 6. There are other amendments not relevant to this Order.
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