C1Part 2Regulation of Social Housing
Chapter 6Regulatory powers
Management and constitution
212F1Registered society: change of rules
I11
This section applies to F2a registered society.
2I2
An amendment of the society's rules requires consent if it—
a
alters the society's objects,
b
makes provision about the distribution of assets to members, or
c
enables the society to become, or cease to be, a subsidiary or associate of another body.
I13
An amendment of the rules which requires consent is effective only if the regulator has first consented.
I14
The regulator may not consent to an amendment which it thinks would turn the society into a profit-making organisation.
I15
The society must notify the regulator of an amendment of the rules which does not require consent.
I16
In relation to an amendment which requires consent the requirement in F4section 16(2) of the Co-operative and Community Benefit Societies Act 2014 (sending copies of amendment of rules to F3Financial Conduct Authority) is satisfied only if the copies are accompanied by a copy of the regulator's consent.
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The preceding provisions of this section shall be treated as if they formed part of that Act as well as of this Act.
8I2
The Secretary of State may by order amend the list in subsection (2).
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)