Co-operative and Community Benefit Societies Act 2014 (2016 Chapter 14).
Type of law
Legislation
Date of original text
Date of latest amendment
Abstract
This Act, which extends to England and Wales and Scotland, consolidates legislation on co-operative and community benefit societies (formerly known as industrial and provident societies). The Act concerns registration etc. of societies and administration and operation of registered societies. A large part of the Act is dedicated to financial arrangement affecting registered societies. A society for carrying on any industry, business or trade (including dealings of any kind with land) which meets specified conditions may be registered under this Act as— (a) a co-operative society, or (b) a community benefit society. Agricultural, horticultural or forestry society may provide for loans without security. The fact that the society’s rules provide for the making of such advances without security is not a ground for refusing to register those rules. A registered society may— (a) (unless its registered rules provide otherwise) hold, purchase or take a lease of any land in its own name; (b) sell, exchange, mortgage or lease any such land; (c) construct, alter or demolish buildings on it.
Attached files
Web site
Long title of text
An Act to consolidate certain enactments relating to co-operative societies, community benefit societies and other societies registered or treated as registered under the Industrial and Provident Societies Act 1965, with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission.
Date of text
Notes
Schedule 4 sets out amendments to other Acts and Schedule 7 lists repeals. Thus Act repeals: the Industrial and Provident Societies Acts of 1965, 1967, 1975, 1978, 2002; the Friendly and Industrial and Provident Societies Act 1968; the Co-operative and Community Benefit Societies Act 2003; the Co-operative and Community Benefit Societies and Credit Unions Act 2010.Including amendments up to Financial Services and Markets Act 2023 (c. 29), s. 86(3).
Repealed
No
Source language
English
Legislation Amendment
No