Co-operative and Community Benefit Societies and Credit Unions Act 2010

4 Power to apply certain other provisions relating to companies E+W+S

(1) The Treasury may by regulations—

(a) make provision applying to societies registered under the Industrial and Provident Societies Act 1965 (c. 12) any provision mentioned in subsection (2), or

(b) make provision for such societies corresponding to any such provision,

in either case, with such modifications as appear to the Treasury to be appropriate.

(2) The provisions are—

(a) Parts 14 and 15 of the Companies Act 1985 (c. 6) (investigations);

(b) Part 5 of the Companies Act 2006 (c. 46) (company names);

(c) Part 31 of that Act (dissolution and restoration to the register).

(3) Regulations made by virtue of subsection (2)(a) may amend or repeal the following provisions—

(a) section 47 of the Industrial and Provident Societies Act 1965 (c. 12) (inspection of books by order of [F1 appropriate authority]);

(b) section 48 of that Act (production of documents and provision of information);

(c) section 49 of that Act (appointment of inspectors and calling of special meeting), so far as relating to the appointment of inspectors.

(4) Regulations made by virtue of subsection (2)(b) may amend or repeal section 5 of the Industrial and Provident Societies Act 1965 (name of society).

(5) Regulations made by virtue of subsection (2)(c) may amend or repeal the following provisions of the Industrial and Provident Societies Act 1965—

(a) section 16(1)(a)(iii) (cancellation of registration: society having ceased to exist);

(b) section 59 (restriction on dissolution or cancellation of registration).

(6) Subsections (3) to (5) above are not to be read as restricting the power conferred by section 6 of this Act (general power to make consequential amendments).

(7) Regulations under this section may—

(a) confer power to make orders, regulations and other subordinate legislation;

(b) create criminal offences, but only—

(i) in circumstances corresponding to an offence under the Companies Acts, and

(ii) subject to a maximum penalty no greater than is provided for in respect of the corresponding offence;

(c) provide for the charging of fees, but not any charge in the nature of taxation.

(8) Before making any regulations under this section the Treasury must consult such persons as appear to them to be appropriate.

Textual Amendments

F1 Words in s. 4(3)(a) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 11 para. 9 (with Sch. 12)

Commencement Information

I1 S. 4 in force at 1.12.2013 by S.I. 2013/2936, art. 2