Search Legislation

Advanced Search

The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

Changes to legislation:

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. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

  1. Introductory Text

  2. 1.Citation, commencement and interpretation

  3. 2.Application to relevant societies and relevant CCBS of law about company arrangements, administration and moratoriums

  4. 2A.Application of section 176ZB of the 1986 Act

  5. 3.Application of section 176A of the 1986 Act

  6. 4.Application of other provisions of the 1986 Act

  7. 5.Application of section 215 of FSMA

  8. 5A.Application of sections 355A and 355B of FSMA

  9. 6.Application of section 356 of FSMA

  10. 7.Application of section 359 of FSMA

  11. 8.Application of section 361 of FSMA

  12. 9.Application of sections 362 and 362A of FSMA

  13. 10.Application of provisions of FSMA: general provision

  14. 11.Application of insolvency rules

  15. 12.Application of other subordinate legislation

  16. 13.Modified application of section 111 of the 2014 Act

  17. 14.Modified application of section 113 of the 2014 Act

  18. 15.Modified application of section 126 of the 2014 Act

  19. 16.Modified application of section 59 of the 1965 Act

  20. 17.Amendment of the 1965 Act

  21. Signature

    1. SCHEDULE 1

      Modified application of Parts 1 and 2 of the Insolvency Act 1986 to relevant societies

      1. PART 1 General modifications

        1. 1.(1) Unless the context otherwise requires and subject to any...

      2. PART 1A Modified application of Part A1 of the Insolvency Act 1986 to Co-operative and Community Benefit Societies (further modifications)

        1. 1A.Part A1 of the 1986 Act (moratorium) applies in relation...

        2. 1B.Section A5 (obtaining a moratorium for other overseas companies) is...

        3. 1C.Section A20 (restrictions on insolvency proceedings etc) has effect as...

        4. 1D.Section A28 (restrictions on payment of certain pre-moratorium debts) has...

        5. 1E.Section A35 (monitoring) has effect as if after subsection (2)...

        6. 1F.Section A48 of the 1986 Act (prosecution of delinquent officers...

        7. 1G.Chapter 8 of Part A1 of the 1986 Act (miscellaneous...

        8. 1H.Section A50 (power to modify this Part etc in relation...

        9. 1I.Section A54 has effect as if— (a) in subsection (1),...

        10. 1J.Section A55 is omitted.

        11. 1K.Schedule ZA1 has effect as if— (a) in paragraph 15—...

      3. PART 2 Modified application of Part 1 of the Insolvency Act 1986 to relevant societies (further modifications)

        1. 2.Part 1 of the 1986 Act applies in relation to...

        2. 3.Part 1 (company voluntary arrangements)

        3. 3A.Sections 2 to 6 and 7 of ... the 1986...

        4. 4.Section 3 of the 1986 Act (summoning of meetings) has...

        5. 5.Section 7A of the 1986 Act (prosecution of delinquent officers...

        6. 6.Schedule A1 (moratorium where directors propose voluntary arrangement)

        7. 7.Schedule A1 to the 1986 Act has effect as if...

        8. 8.Schedule A1 to the 1986 Act has effect as if—...

      4. PART 3 Modified application of Part 2 of the Insolvency Act 1986 to relevant societies (further modifications)

        1. 9.Part 2 of the 1986 Act applies in relation to...

        2. 10.In this Part— (a) a reference to a numbered paragraph...

        3. 10A.Creditors’ meetings and creditors’ notices

        4. 11.Nature of administration

        5. 12.Appointment of administrator by court

        6. 13.Appointment of administrator by holder of floating charge

        7. 14.Paragraph 15 (restrictions on power to appoint) has effect as...

        8. 15.Effect of administration

        9. 16.In paragraph 45 (publicity) sub-paragraph (3) has effect as if...

        10. 17.Paragraph 46 (announcement of administrator's appointment) has effect as if...

        11. 18.Process of administration

        12. 19.Paragraph 51 (requirement for initial creditors' meeting) has effect as...

        13. 20.Paragraph 52 (requirement for initial creditors' meeting) has effect as...

        14. 21.In paragraph 53 (business and result of initial creditors' meeting),...

        15. 22.Paragraph 54 (revision of administrator's proposals) has effect as if—...

        16. 23.In paragraph 55 (failure to obtain approval of administrator's proposals)...

        17. 24.Paragraph 56 (further creditors' meetings) has effect as if—

        18. 25.In paragraph 58 (correspondence instead of creditors' meeting)—

        19. 26.Functions of administrator

        20. 27.Paragraph 61 (removal and appointment of director) has effect as...

        21. 28.In paragraph 64 (exercise of management power), in sub-paragraph (2)(b)...

        22. 29.In paragraph 65 (distribution) sub-paragraph (1) has effect as if...

        23. 30.Ending administration

        24. 31.In paragraph 84 (moving from administration to dissolution) sub-paragraph (5)...

        25. 32.Replacing administrator

        26. 33.Paragraph 96 (substitution of administrator: competing floating charge-holder) has effect...

        27. 34.General

      5. PART 4 Modified application of Schedule 1 to the Insolvency Act 1986 to relevant societies (further modifications)

        1. 35.Schedule 1 to the 1986 Act applies in relation to...

        2. 36.This Part has effect without limiting paragraph 26 of this...

        3. 37.In this Part— (a) a reference to a numbered paragraph...

        4. 38.Paragraph 3 (power to borrow) has effect as if it...

        5. 39.Paragraphs 15 (power to establish subsidiaries) and 16 (power to...

        6. 40.Paragraph 16 has effect in relation to a relevant society...

    2. SCHEDULE 1A

      Supplementary provision on moratoriums

      1. PART 1 General provision

        1. 1.Interpretation

      2. PART 2 England and Wales

        1. 2.Content of documents relating to the obtaining or extending of a moratorium: general

        2. 3.Authentication of documents relating to obtaining or extending moratorium: general

        3. 4.Notice that members of the committee wish to obtain a moratorium

        4. 5.Proposed monitor’s statement and consent to act

        5. 6.Timing of statements for obtaining moratorium

        6. 7.Notice by monitor where moratorium comes into force

        7. 8.Notice that members of the committee wish to extend a moratorium

        8. 9.Extension under section A10 or A11 of the 1986 Act: notices and statements

        9. 10.Timing of statements for extension under section A10 or A11

        10. 11.Obtaining creditor consent: qualifying decision procedure

        11. 12.Rule 15.11 of the England and Wales Insolvency Rules (notice...

        12. 13.Rule 15.28 of the England and Wales Insolvency Rules (creditors’...

        13. 14.Rule 15.31 of the England and Wales Insolvency Rules (calculation...

        14. 15.Rule 15.32 of the England and Wales Insolvency Rules (calculation...

        15. 16.Rule 15.34 of the England and Wales Insolvency Rules (requisite...

        16. 17.Content of application to the court for extension of moratorium

        17. 18.Timing of statements accompanying application to court for extension of moratorium

        18. 19.Notices about change in end of moratorium

        19. 20.(1) A notice under section A17(2) or (3) of the...

        20. 21.Where a moratorium comes to an end under section A16...

        21. 22.(1) A notice under section A17(4) of the 1986 Act...

        22. 23.Notification by members of the committee of insolvency proceedings etc

        23. 24.Notice of termination of moratorium

        24. 25.Termination of moratorium under section A38(1)(d) of the 1986 Act

        25. 26.Replacement of monitor or additional monitor: statement and consent to act

        26. 27.Replacement of monitor or additional monitor: notification

        27. 28.Challenge to monitor’s remuneration

        28. 29.Challenge to actions of the members of the committee: qualifying decision procedure

        29. 30.Priority of moratorium debts etc in subsequent winding up

        30. 31.Priority of moratorium debts etc in subsequent administration

        31. 32.Prescribed format of documents

        32. 33.(1) The following provisions of the England and Wales Insolvency...

        33. 34.Delivery of documents

        34. 35.Applications to court

        35. 36.Identification details for a relevant CCBS

        36. 37.Contact details of a monitor or other office-holder

        37. 38.Meaning of “The England and Wales Insolvency Rules”

      3. PART 3 Scotland

        1. 39.Content of documents relating to the obtaining or extending of a moratorium: general

        2. 40.Authentication of documents relating to obtaining or extending moratorium: general

        3. 41.Notice that members of the committee wish to obtain a moratorium

        4. 42.Proposed monitor’s statement and consent to act

        5. 43.Timing of statements for obtaining moratorium

        6. 44.Notice by monitor where moratorium comes into force

        7. 45.Notice that members of the committee wish to extend a moratorium

        8. 46.Extension under section A10 or A11 of the 1986 Act: notices and statements

        9. 47.Timing of statements for extension under section A10 or A11

        10. 48.Obtaining creditor consent: qualifying decision procedure

        11. 49.Rule 5.11 of the Scottish Insolvency Rules (notice of decision...

        12. 50.Rule 5.26 of the Scottish Insolvency Rules (creditors’ voting rights)...

        13. 51.Rule 5.28 of the Scottish Insolvency Rules (calculation of voting...

        14. 52.Rule 5.29 of the Scottish Insolvency Rules (calculation of voting...

        15. 53.Rule 5.31 of the Scottish Insolvency Rules (requisite majorities) has...

        16. 54.Content of application to the court for extension of moratorium

        17. 55.Timing of statements accompanying application to court for extension of moratorium

        18. 56.Notices about change in end of moratorium

        19. 57.(1) A notice under section A17(2) or (3) of the...

        20. 58.Where a moratorium comes to an end under section A16...

        21. 59.(1) A notice under section A17(4) of the 1986 Act...

        22. 60.Notification by members of the committee of insolvency proceedings etc

        23. 61.Notice of termination of moratorium

        24. 62.Termination of moratorium under section A38(1)(d) of the 1986 Act

        25. 63.Replacement of monitor or additional monitor: statement and consent to act

        26. 64.Replacement of monitor or additional monitor: notification

        27. 65.Challenge to monitor’s remuneration

        28. 66.Challenge to actions of the members of the committee: qualifying decision procedure

        29. 67.Priority of moratorium debts etc in subsequent winding up

        30. 68.Priority of moratorium debts etc in subsequent administration

        31. 69.Prescribed format of documents

        32. 70.(1) The following provisions of the Scottish Insolvency Rules apply,...

        33. 71.Delivery of documents

        34. 72.Identification details for a relevant CCBS

        35. 73.Contact details of a monitor or other office-holder

        36. 74.Meaning of “The Scottish Insolvency Rules”

    3. SCHEDULE 2

      Modified application of Part 26 of the Companies Act 2006 to relevant societies

      1. 1.Unless the context otherwise requires and subject to any further...

      2. 2.Part 26 of the 2006 Act applies in relation to...

      3. 3.In section 895 (application of Part 26) subsection (2) has...

      4. 4.In section 899 (court sanction for compromise or arrangement) —...

      5. 5.Section 900 (powers of court to facilitate reconstruction or amalgamation)...

      6. 6.Section 901 (obligations of company with respect to articles etc.)...

      7. 7.Where a copy of any order or other document is...

      8. 8.In paragraph 7— “PRA-authorised person” has the meaning given in...

    4. Schedule 2A

      Modified application of Part 26A of the Companies Act 2006 to relevant societies

      1. 1.Unless the context otherwise requires and subject to any further...

      2. 2.Part 26A of the 2006 Act applies in relation to...

      3. 3.Section 901A (application of this part) subsection (4) has effect...

      4. 4.Section 901B is omitted.

      5. 5.Section 901F (court sanction for compromise or arrangement) has effect...

      6. 6.Section 901I is omitted.

      7. 7.Section 901J (powers of court to facilitate reconstruction or amalgamation)...

      8. 8.In section 901K (obligations of company with respect to articles...

      9. 9.Section 901L is omitted.

      10. 10.Where a copy of any order or other document is...

      11. 11.In paragraph (10)— (a) “PRA-authorised person” has the meaning given...

    5. SCHEDULE 3

      Modified application of other provisions of the Insolvency Act 1986

      1. 1.Interpretation

      2. 2.Modification of provisions applied by article 4

      3. 3.Miscellaneous provisions applying to companies which are insolvent

      4. 3A.Section 233B (protection of supplies of goods and services) does...

      5. 4.Interpretation for first group of Parts

      6. 5.Insolvency practitioners: qualification and regulation

      7. 5A.Section 390 (persons not qualified to act as insolvency practitioners)...

      8. 5B.(1) In the following provisions, in a reference to authorisation...

      9. 5C.Creditors’ meetings

      10. 5D.Creditors’ notices

      11. 6.Punishment of offences

      12. 7.Schedule 10 to the 1986 Act (punishment of offences under...

      13. 8.Schedule 10 to the 1986 Act also has effect without...

    6. SCHEDULE 4

      Modified application of insolvency rules in relation to relevant societies

      1. PART 1 Interpretation

        1. 1.In this Schedule— “applied provisions”— in Part 2, means the...

        2. 2.In this Schedule— (a) a reference to the FCA is...

      2. PART 2 Modified application of the Insolvency Rules 1986

        1. 3.This Part modifies the Parts of the Insolvency Rules 1986...

        2. 4.Unless the context otherwise requires and subject to any further...

        3. 5.The applied provisions have effect as if they provided that...

        4. 6.The applied provisions have effect with the further modifications set...

        5. 7.Proposal by directors for company voluntary arrangement

        6. 8.Consideration of proposals where moratorium obtained

        7. 9.Appointment of administrator by holder of floating charge

        8. 10.Process of administration

        9. 11.Rule 2.31 (release from duty to submit statement of affairs;...

        10. 12.Meetings and reports

        11. 13.Rule 2.35 has effect as if— (a) paragraph (3) required...

        12. 14.Rule 2.37 (meeting requisitioned by creditors) has effect as if...

        13. 15.Rule 2.43 has effect as if— (a) in paragraph (1)...

        14. 16.In Rule 2.45 (revision of the administrator's proposals)—

        15. 17.In Rule 2.47 (reports to creditors), in paragraphs (1)(g) and...

        16. 18.In Rule 2.48 (correspondence instead of creditors' meetings)—

        17. 19.Rule 2.49 (venue and conduct of company meeting) has effect...

        18. 20.Distributions to creditors

        19. 21.Rule 2.69 (debts of insolvent society to rank equally) has...

        20. 22.Rule 2.85 (mutual credits and set off) has effect as...

        21. 23.Rule 2.95 (notice of proposed distribution) has effect as if—...

        22. 24.In Rule 2.97 (declaration of dividend) member-depositors are to be...

        23. 25.Rule 2.98 (notice of declaration of dividend) has effect as...

        24. 26.In Rule 2.99 (payment of dividends and related matters), in...

        25. 27.Rule 2.100 (notice of no dividend, or no further dividend)...

        26. 28.Rule 2.103 (disqualification from dividend) has effect as if it...

        27. 29.Ending administration

        28. 30.In Rule 2.113 (notice of end of administration), in paragraphs...

        29. 31.Replacing administrator

        30. 32.(1) Rule 2.122 (application to court to remove administrator from...

        31. 33.Quorum at meetings

        32. 34.Forms

        33. 35.“Prescribed part”

      3. PART 3 Modified application of the Insolvency (Scotland) Rules 1986

        1. 36.This Part modifies the Parts of the Insolvency (Scotland) Rules...

        2. 37.Unless the context otherwise requires and subject to any further...

        3. 38.The applied provisions have effect with the further modifications set...

        4. 39.Proposal by directors for company voluntary arrangement

        5. 40.Consideration of proposals where moratorium obtained

        6. 41.Appointment of administrator by holder of floating charge

        7. 42.Process of administration

        8. 43.Rule 2.23 (release from duty to submit statement of affairs;...

        9. 44.Meetings

        10. 45.Rule 2.27 has effect as if in paragraph (3) the...

        11. 46.In Rule 2.28— (a) in paragraphs (3), (4) and (10),...

        12. 47.In Rule 2.29 (applicable law (company meetings)) ignore paragraph (a)....

        13. 48.In Rule 2.34 (revision of the administrator's proposals)—

        14. 49.In Rule 2.35, in paragraph (1)(a), in the case of...

        15. 50.Distributions to creditors

        16. 51.Rule 2.41 (distributions to creditors) has effect in relation to...

        17. 52.Ending administration

        18. 53.Replacing administrator

        19. 54.(1) Rule 2.53 (application to replace administrator) and Rule 2.56...

        20. 55.Quorum at meetings

        21. 56.Rule 7.7 (quorum) has effect in relation to a relevant...

        22. 57.Rule 7.12 (resolutions) has effect in relation to a meeting...

        23. 58.Forms

      4. PART 4 Modified application of Part 3 of Schedule 4 to the Corporate Insolvency and Governance Act 2020

        1. 59.This Part modifies Part 3 of Schedule 4 to the...

        2. 60.Unless the context otherwise requires and subject to any further...

        3. 61.The applied provisions have effect as if they provided that...

        4. 62.The applied provisions have effect with the further modifications set...

    7. SCHEDULE 5

      Application of other subordinate legislation with modifications

      1. 1.Application of the Insolvency Act 1986 (Prescribed Part) Order 2003

      2. 1A.Modified application of the Insurers (Reorganisation and Winding Up) Regulations 2004

      3. 2.Modified application of the Pension Protection Fund (Entry Rules) Regulations 2005

      4. 3.Modified application of the Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2010

  23. Explanatory Note

Back to top

Options/Help

Print Options

You have chosen to open The Whole Instrument

The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument as a PDF

The Whole Instrument you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Instrument

The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources

The data on this page is available in the alternative data formats listed: