C1Part 2Regulation of Social Housing

Annotations:
Modifications etc. (not altering text)

Chapter 4Registered providers

Restructuring and dissolution

I1163F3Registered society: restructuring

1

This section applies to a non-profit registered provider which is F2a registered society.

2

The F1Financial Conduct Authority may register a resolution passed by the society for the purposes of restructuring provisions listed in subsection (3) only if—

a

the regulator has consented to the resolution, and

b

a copy of the consent accompanies the resolution as sent to the Authority.

F43

The following provisions of the Co-operative and Community Benefit Societies Act 2014 are the restructuring provisions—

a

section 109 (amalgamation of societies);

b

section 110 (transfer of engagements between societies);

c

section 112 (conversion of society into a company etc).

4

Where a resolution is registered in accordance with subsection (2), any body created or to whom engagements are transferred—

a

must be registered by the regulator and designated as a non-profit organisation, and

b

pending registration shall be treated as registered and designated as a non-profit organisation.