17 Suspension of registration of society. E+W+S
(1)Where under section 16(1)(c) of this Act the [F1FCA] might F2. . . cancel the registration of a registered society, the [F1FCA] may, by [F3notice in writing]—
(a)subject to subsection (3) of this section, suspend the registration of that society for any term not exceeding three months; and
(b)F4. . . subject to section 18(1)(d) of this Act, from time to time renew any such suspension for the like period.
(2)Where before the expiration of the period of a notice under section 16(3) of this Act of the proposed cancellation of a society’s registration, that society duly lodges an appeal from the proposed cancellation under section 18(1)(c) of this Act, the [F1FCA] may by [F5notice in writing]suspend the society’s registration from the expiration of that period until the date of the determination or abandonment of the appeal.
(3)Not less than two months previous notice in writing specifying briefly the ground of the proposed suspension shall be given by the [F1FCA] to a society before its registration is suspended under subsection (1)(a) of this section.
(4)Notice of every suspension of a society’s registration under subsection (1)(a) or (2) of this section and of any renewal of a suspension under subsection (1)(b) thereof shall, as soon as practicable after it takes place, be published in the Gazette and in some local newspaper circulating in or about the locality in which the society’s registered office is situated.
(5)From the date of publication in the Gazette of a notice under subsection (4) of this section of the suspension of any society’s registration under subsection (1)(a) or (2) of this section until the period of that suspension and any renewal thereof under subsection (1)(b) of this section ends (whether on the expiration of that period or on a successful appeal under section 18(1)(d) of this Act from such a renewal) the society shall not be entitled to any of the privileges of this Act as a registered society, but without prejudice to any liability actually incurred by the society which may be enforced against it as if the suspension had not taken place.
[F6(5A)The FCA must consult the PRA before suspending, or renewing the suspension of, the registration of a registered society which is a PRA-authorised person.]
F7(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Word in s. 17 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 2 para. 2(1)(a)(2)(h) (with Sch. 12)
F2Words in s. 17(1) repealed (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1)(2), Sch. 3 Pt. III para. 220(a)(i), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F3Words in s. 17(1) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. III para. 220(a)(ii) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F4Words in s. 17(1)(b) repealed (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1)(2), Sch. 3 Pt. III para. 220(a)(iii), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F5Words in s. 17(2) substituted (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1), Sch. 3 Pt. III para. 220(b) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F6S. 17(5A) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 2 para. 4 (with Sch. 12)
F7S. 17(6) repealed (1.12.2001) by S.I. 2001/2617, arts. 2(b), 13(1)(2), Sch. 3 Pt. III para. 220(c), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
Modifications etc. (not altering text)
C1Ss. 17, 18 extended by Credit Unions Act 1979 (c. 34, SIF 55:3), s. 2(6)
C2Ss. 17(1), 18 applied with modifications by Credit Unions Act 1979 (c. 34, SIF 55:3), s. 20(1)