C1Part 2Regulation of Social Housing
Chapter 4Registered providers
Restructuring and dissolution
163F1Registered society: restructuring
1
This section applies to a non-profit registered provider which is a registered society.
2
The registered provider must notify the regulator of any resolution passed by the society for the purposes of the restructuring provisions listed in subsection (4).
3
The Financial Conduct Authority may register the resolution only if the registered provider has confirmed to the Financial Conduct Authority that the regulator has been notified.
4
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).
5
The regulator must decide whether the body created or to whom engagements are transferred (“the new body”) is eligible for registration under section 112.
6
If the new body is eligible for registration, the regulator must register it and designate it as a non-profit organisation.
7
If the new body is not eligible for registration, the regulator must notify it of that fact.
8
Pending registration, or notification that it is not eligible for registration, the new body is to be treated as if it were registered and designated as a non-profit organisation.
Pt. 2 modified (1.4.2012) by Localism Act 2011 (c. 20), s. 240(2), Sch. 16 para. 69(2); S.I. 2012/628, art. 6(i) (with arts. 911141517)