Valid from 18/08/2006
[F1124CPetition for winding up of SCEE+W+S
(1)Where, in the case of an SCE whose registered office is in Great Britain—
(a)there has been such a breach as is mentioned in Article 73(1) of Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society (SCE)(the “European Cooperative Society Regulation”)(winding up by the court or other competent authority), and
(b)it appears to the Financial Services Authority that the SCE should be wound up,
the Authority may present a petition for the SCE to be wound up if the court thinks it is just and equitable for it to be so.
(2)Where, in the case of an SCE whose registered office is in Great Britain—
(a)the SCE is not in compliance with Article 6 of the European Cooperative Society Regulation (location of head office and registered office, and
(b)it appears to the Financial Service Authority that the SCE should be wound up,
the Authority may present a petition for the SCE to be wound up if the court thinks it is just and equitable for it to be so.
(3)This section does not apply if the SCE is already being wound up by the court.
(4)In this section “SCE” has the same meaning as in the European Cooperative Society Regulation.]
Textual Amendments
F1S. 124C inserted (18.8.2006) by The European Cooperative Society Regulations 2006 (S.I. 2006/2078), reg. 33(1)