Part 2Regulation of Social Housing
Chapter 4Registered providers
Insolvency etc.
157Manager of F1registered society: extra powers
(1)
This section applies to a manager appointed to implement proposals relating to F2a registered society.
(2)
The appointment may confer on the manager power to make and execute on behalf of the society—
(a)
an instrument providing for the amalgamation of the society with another F1registered society, or
(b)
an instrument transferring its engagements.
(3)
An instrument providing for the amalgamation of a society (“S1”) with another has the same effect as a resolution by S1 under F3section 109 of the Co-operative and Community Benefit Societies Act 2014 (amalgamation of societies by special resolution).
(4)
An instrument transferring engagements has the same effect as a transfer of engagements under F4section 110 or 112 of the Co-operative and Community Benefit Societies Act 2014 (transfer by special resolution to another society or company).
(5)
A copy of the instrument shall be sent to and registered by the F5Financial Conduct Authority.
(6)
An instrument does not take effect until the copy is registered.
(7)
The copy must be sent for registration during the period of 14 days beginning with the date of execution; but a copy registered after that period is valid.