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The Industrial and Provident Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014
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Version Superseded: 01/08/2014
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6. Section 901 (obligations of company with respect to articles etc.) has effect as if after subsection (1) there were inserted—U.K.
“(1A) Where, in the case of a relevant society, the compromise or arrangement includes provision for amending the society's rules, the order may be made only if the Financial Conduct Authority has issued a statement to the effect that it would register an amendment in the terms proposed if copies were sent to it for registration in accordance with section 10 of the Industrial and Provident Societies Act 1965.
(1B) Subsection (1A) does not apply if the intended effect of the compromise or arrangement is that the society will cease to be registered under that Act.”.
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