1.—(1) This Order may be cited as the [F1Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014], and comes into force on 6th April 2014.
(2) In this Order—
F2...
F2...
“the 1986 Act” means the Insolvency Act 1986 M1 [F3(see also paragraph (5))];
“the 2006 Act” means the Companies Act 2006 M2;
[F4“the 2014 Act” means the Co-operative and Community Benefit Societies Act 2014;]
[F5“the 2015 Act” means the Small Business, Enterprise and Employment Act 2015;]
“authorised person” has the meaning given in section 31(2) of FSMA;
“authorised deposit taker” has the meaning given in section 359(4) of FSMA M3;
F6...
“deposit” has the meaning given by article 5 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 M4;
F6...
“FSMA” means the Financial Services and Markets Act 2000 M5;
“member”, in relation to a relevant society, means a person whose name is entered as a member in the register kept by the society in accordance with [F7section 30(1) of the 2014 Act];
F6...
[F8“relevant CCBS” means a co-operative society or community benefit society, that is registered under the 2014 Act but not a society that is—
registered as a social landlord under Part 1 of the Housing Act 1996 or Part 2 of the Housing (Scotland) Act 2010; or
a credit union within the meaning of section 31(1) of the Credit Unions Act 1979];
“relevant person” has the meaning given in section 213(9)(a) of FSMA M6; and
“relevant society” means a [F9registered society which] is not—
(3) The definition of “authorised deposit taker” is to be construed in accordance with—
(a)section 22 of, and Schedule 2 to, FSMA M9; and
(b)any relevant order under section 22 M10.
(4) For the purposes of this Order a relevant society is “in administration” while the appointment of an administrator of the society under Schedule B1 to the 1986 Act M11 has effect.
[F10(5) In this Order a reference to the 1986 Act is to the 1986 Act without the amendments made by section 1 of, and Schedules 1 to 3 to, the Corporate Insolvency and Governance Act 2020.]
Textual Amendments
F1Words in art. 1(1) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 33
F2Words in art. 1(2) omitted (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(a)
F3Words in art. 1(2) inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 54(a) (with ss. 2(2), 5(2))
F4Words in art. 1(2) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(b)
F5Words in art. 1(2) inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 15(2)
F6Words in art. 1(2) omitted (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(c)
F7Words in art. 1(2) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(d)
F8Words in art. 1(2) inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 6
F9Words in art. 1(2) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(e)
F10Art. 1(5) inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 54(b) (with ss. 2(2), 5(2))
Marginal Citations
M3The definition was amended by the Financial Services Act 2012 (c. 21), Schedule 14, paragraphs 1 and 6(1) and (5).
M6Section 213(9)(a) was amended by the Financial Services Act 2012, Schedule 10, paragraphs 1 and 3(1) and (6).
M9Section 22 and Schedule 2 were amended by the Financial Services Act 2012, section 7.
M10The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) is relevant.
M11Schedule B1 was inserted by the Enterprise Act 2002, section 248(2) and Schedule 16; and was amended by the Financial Services Act 2012, Schedule 18, paragraphs 51 and 55, and by S.I. 2003/2096, 2008/948 and 2008/1897. There are other amendments not relevant to this Order.