255AmalgamationE+W
(1)This section applies if as a result of an inquiry under section 206 or an audit under section 210 the regulator is satisfied that—
(a)the affairs of a non-profit registered provider which is [F1a registered society] have been mismanaged in relation to social housing, F2...
(b)the management of social housing owned by a non-profit registered provider which is [F1a registered society] would be improved if the provider were amalgamated with another [F3registered society] [F4, or
(c)the registered provider has failed to meet a standard under section 193, 194 or 194C.]
(2)The regulator may make and execute on behalf of the society an instrument providing for the amalgamation of the society with another [F3registered society].
(3)The regulator may act under subsection (2) only with the Secretary of State's consent.
(4)An instrument providing for the amalgamation of a society (“S1”) with another has the same effect as a resolution by S1 under [F5section 109 of the Co-operative and Community Benefit Societies Act 2014] (amalgamation of societies by special resolution).
(5)A copy of an instrument shall be sent to and registered by the [F6Financial 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.
(8)Any body created by virtue of an amalgamation—
(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.
Textual Amendments
F1Words in Act substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 122 (with Sch. 5)
F2Word in s. 255(1)(a) omitted (1.4.2024) by virtue of Social Housing (Regulation) Act 2023 (c. 36), s. 46(3), Sch. 3 para. 12(a); S.I. 2024/437, reg. 2(y)
F3Words in Act substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 123 (with Sch. 5)
F4S. 255(1)(c) and word inserted (1.4.2024) by Social Housing (Regulation) Act 2023 (c. 36), s. 46(3), Sch. 3 para. 12(b); S.I. 2024/437, reg. 2(y)
F5Words in s. 255(4) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 133 (with Sch. 5)
F6Words in s. 255(5) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 11 para. 8(2), (3)(f) (with Sch. 12)
Commencement Information
I1S. 255 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)