Co-operative and Community Benefit Societies Act 2014
Co-operative and Community Benefit Societies Act 2014 (2014 c. 14)
- Co-operative and Community Benefit Societies Act 2014 (2014 c. 14)
- Part 1 Registration
- Introduction
- 1 Meaning of “registered society”
- Registration
- 2 Societies that may be registered
- 3 Registration
- 4 Registration etc: special cases
- Cancellation of registration
- 5 Cancellation of registration: conditions for cancellation
- 6 Cancellation of registration: procedure and effect
- 7 Cancellation of registration: additional procedure in cases involving condition D
- Suspension of registration
- 8 Suspension of registration
- Appeals
- 9 Appeal against refusal to register or cancellation or suspension of registration
- Part 2 Name, rules, powers etc
- Name and charitable status
- 10 A society's name
- 11 Registered name to be displayed and used
- 12 Charitable status to appear on documents etc
- 13 Change of name
- Rules: general
- 14 Content of a society's rules
- 15 Rules to bind members
- 16 Amendment of rules
- 17 Appeal against refusal to register amendment of rules
- 18 Duty to provide copy of rules on demand
- Rules: supplementary provisions
- 19 Provision of rules with intent to mislead or defraud
- 20 Creation of offences by a society's rules
- 21 Rules as to fund for purchase of government securities
- 22 Rules of agricultural, horticultural or forestry society may provide for loans without security
- 23 Supplementary provisions as to rules
- Maximum shareholding
- 24 Maximum interest in a society's withdrawable shares
- 25 Power to amend limit in section 24
- Power to hold land
- 26 Power to hold land etc
- Power to invest etc
- 27 Power to invest
- 28 Proxy voting by societies
- Power to restrict use of assets
- 29 Power to restrict use of assets of a community benefit society
- Part 3 Members and officers
- Register of members and officers
- 30 Register of members and officers
- Provisions about certain kinds of member etc
- 31 Members under 18
- 32 Bodies corporate may be members
- 33 Society a member of another society: references to members making and signing documents etc
- Dealings with members
- 34 Advances to members
- 35 Remedies for members' debts
- 36 Payments in respect of persons lacking capacity
- Distribution of member's property in society on death
- 37 Nomination by member of entitlement to property in society on member's death
- 38 Section 37: variation and revocation of nominations
- 39 Section 37: procedure on death
- 40 Death of member: distribution of property not exceeding £5,000
- Officers and employees in charge of money etc
- 41 Security to be given by certain officers
- 42 Duty of certain officers and employees to account
- Part 4 A society's capacity and related matters
- Capacity of society and power of committee to bind it
- 43 Capacity of a society and relationship with its rules
- 44 Special resolutions under section 43
- 45 Power of committee to bind society
- 46 No duty to enquire as to capacity of society or authority of committee
- 47 Application of sections 43 and 45 to charitable societies
- 48 Transactions with committee members etc in excess of powers
- 49 Section 48: definitions
- Seals
- 50 Common seal
- 51 Power of society to have official seal for use abroad
- 52 Authorisation of use of official seal
- Execution of documents
- 53 Methods for execution of documents: England and Wales
- 54 Method for execution of contracts under seal: England and Wales
- 55 Execution of documents: Scotland
- 56 Execution of documents: presumption of validity of officer's signature
- Other matters
- 57 Contracts, deeds and obligations made before registration of society
- 58 Bills of exchange and promissory notes
- Part 5 Charges over a society's assets
- CHAPTER 1 Charges: England and Wales
- 59 Charges on assets of English and Welsh societies
- 60 Section 59: power to extend time for making application or to rectify errors
- 61 Notification of transactions relating to charges recorded under section 59
- CHAPTER 2 Charges: Scotland
- 62 Floating charges created by Scottish societies
- 63 Filing of information relating to charges created by virtue of section 62
- 64 Notification of charges etc: Scotland
- CHAPTER 3 Receiver or manager of society's property
- 65 English and Welsh societies: restriction on appointment of administrative receiver
- 66 Duty to account etc of receiver or manager of a society's property
- Part 6 Banking and lending by societies
- Banking
- 67 Registered society with withdrawable share capital not to carry on banking etc
- 68 Power to amend figures in section 67(2)
- 69 Society carrying on banking must display statement
- 70 Section 69: form of statement
- Discharge of charges securing lending by a registered society
- 71 Discharge of mortgages of property in England and Wales
- 72 Discharge of securities: land in Scotland
- 73 Discharge of securities: other property in Scotland
- 74 Receipt on payment of moneys secured to a society
- Part 7 Accounts, audit and annual returns
- Books of account
- 75 Duty to keep books of account etc
- 76 Form of books of account
- Year of account
- 77 Year of account: societies registered on or after 8 January 2012
- 78 Year of account: societies registered on or before 7 January 2012
- Accounts and balance sheets
- 79 Duty to prepare revenue accounts
- 80 Accounts and balance sheets to give a true and fair view
- 81 Duty to display latest balance sheet at registered office
- 82 Restrictions on publication of accounts and balance sheets
- Auditing of accounts etc
- 83 Duty to appoint auditors
- 84 Power of certain societies to disapply section 83
- 85 Duty to obtain report in certain cases where section 83 is disapplied
- 86 Power to require accounts etc for past years to be audited by qualified auditor
- 87 Auditors: content of report and powers
- 88 Persons appointed under section 82 or 85: powers etc
- Annual returns
- 89 Annual returns
- 90 Duty to provide copy of annual return on demand
- Auditors
- 91 Meaning of “qualified auditor”
- 92 Persons ineligible for appointment as auditors etc
- 93 Re-appointment and removal of qualified auditors
- 94 Resolutions relating to appointment or removal of auditors
- 95 Resolutions relating to auditors: auditors' representations
- 96 Section 95: provision of auditor's representations by making available on website
- 97 Remuneration of qualified auditors
- Group accounts
- 98 Group accounts
- 99 Section 98: exceptions
- Interpretation of Part 7
- 100 Meaning of company being a “subsidiary” of a society
- 101 Meaning of society being a “subsidiary” of another society
- 102 Interpretation of Part 7
- Part 8 Inspection and investigations
- Power to inspect books etc
- 103 Power of members etc to inspect own account and society's register
- 104 Power of society to make rules authorising inspection of books
- 105 Power of FCA to appoint accountant or actuary to inspect a society's books
- Inspectors and special meetings
- 106 Appointment of inspectors and calling of special meetings
- 107 Section 106: examinations and special meetings
- General restriction on inspection
- 108 General restriction on inspection of books
- Part 9 Amalgamations, conversions, dissolution etc
- Amalgamations and transfers of engagements between societies etc
- 109 Amalgamation of societies
- 110 Transfer of engagements between societies
- 111 Special resolutions under section 109 or 110
- Conversion of society into company etc
- 112 Conversion of society into a company, amalgamation with a company etc
- 113 Special resolutions under section 112
- 114 Conversion of society into a company: supplementary
- Conversion of company into society
- 115 Conversion of company into a registered society
- 116 Conversion of company into a society: member's shareholding in company exceeds maximum permitted amount
- 117 Conversion of company into a society: no effect on liabilities
- Voluntary arrangements and administration
- 118 Power to apply provisions about company arrangements and administration etc
- Dissolution by an instrument of dissolution
- 119 Dissolution of society by an instrument of dissolution
- 120 Special resolutions under section 119
- 121 Instruments of dissolution: notification to FCA etc
- 122 Instruments of dissolution: advertisement, dissolution etc
- Dissolution on winding up
- 123 Dissolution of society on winding up
- 124 Liability of existing and former members in winding up
- Dissolution following administration
- 125 Dissolution following administration
- Restriction on dissolution etc
- 126 Dissolution etc to occur only after society's property dealt with
- Part 10 Offences
- Offences
- 127 General offences
- 128 Offences by societies to be also offences by officers etc
- 129 Continuing offences
- 130 Misappropriation of a society's property etc
- 131 Falsification of a society's records etc
- Prosecution of offences
- 132 Prosecution of offences: persons who may bring proceedings and time for bringing them
- 133 Prosecution of societies: service of summons etc
- Part 11 Miscellaneous and general
- Application of company law etc
- 134 Power to amend this Act to assimilate to company law
- 135 Power to apply company law provisions on investigations, names and dissolution etc
- 136 Section 135: power to make consequential amendments
- Determination of disputes
- 137 Determination of disputes in accordance with a society's rules
- 138 Determination of disputes under section 137: application to the court
- 139 Determination of disputes otherwise than under a society's rules
- 140 Determination of disputes: supplementary
- Other miscellaneous provisions
- 141 Recovery of costs and expenses
- Northern Ireland societies
- 142 Northern Ireland societies to be treated as registered societies
- Documents
- 143 Form of documents etc
- 144 Form etc of electronic documents sent to FCA or PRA
- 145 Fees for inspection and copying of documents
- 146 Certain documents to be received in evidence
- Regulations and orders
- 147 Regulations and orders
- Interpretation
- 148 Meaning of “electronic form”, “by electronic means” etc
- 149 Interpretation of Act
- Part 12 Final provisions
- 150 Pre-commencement societies
- 151 Amendments, repeals etc
- 152 Channel Islands
- 153 Extent
- 154 Commencement
- 155 Short title
- SCHEDULES
- SCHEDULE 1 Forms of bond for officers of society
- Part 1 Forms applicable in England, Wales and Channel Islands
- Part 2 Form applicable in Scotland
- SCHEDULE 2 Form of receipt on mortgage, heritable security etc
- Part 1 Forms applicable in England and Wales
- Part 2 Forms applicable in Scotland
- SCHEDULE 3 Provision for certain pre-commencement societies
- Introduction
- Section 5 (cancellation of registration): societies registered before 26 July 1938
- Powers of a society registered on or before 1 January 1894
- Section 15: amendments registered on or before 27 March 1928 increasing a member's financial contribution
- Preservation of certain rules facilitating investment in government securities (section 21)
- Maximum shareholding (section 24): effect of certain resolutions on society's rules
- Maximum deposits: effect of resolution on rules of societies registered before 27 April 1952
- Maximum deposits: effect on certain resolutions on society's rules
- The 1968 Act: consequential amendments to rules
- Section 37 (nomination by member of entitlement to property in society on member's death): nominations made before 5 August 1954
- Section 50 (common seals)
- Section 59 (charges on assets of English and Welsh societies): instruments executed before 14 September 1967
- Section 104 (inspection of books: power to authorise inspection)
- Section 108 (inspection of books: general restriction)
- Part 9: winding up of societies registered before 26 July 1938
- SCHEDULE 4 Consequential amendments
- Part 1 Amendments of the Credit Unions Act 1979
- Part 2 Amendments of other Acts
- Forged Transfers Act 1891 (c. 43)
- Libraries Offences Act 1898 (c. 53)
- Stock Transfer Act 1963 (c. 18)
- Transport Act 1968 (c. 73)
- National Savings Bank Act 1971 (c. 29)
- Local Government Act 1972 (c. 7)
- Friendly Societies Act 1974 (c. 46)
- Industrial Common Ownership Act 1976 (c. 78)
- Housing Act 1985 (c. 68)
- Housing Associations Act 1985 (c. 69)
- Finance Act 1986 (c. 41)
- Company Directors Disqualification Act 1986 (c. 46)
- Housing (Scotland) Act 1987 (c. 26)
- Income and Corporation Taxes Act 1988 (c. 1)
- Local Government and Housing Act 1989 (c. 42)
- Opticians Act 1989 (c. 44)
- Enterprise and New Towns (Scotland) Act 1990 (c. 35)
- Taxation of Chargeable Gains Act 1992 (c. 12)
- Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52)
- Housing Act 1996 (c. 52)
- Scotland Act 1998 (c. 46)
- Greater London Authority Act 1999 (c. 29)
- Financial Services and Markets Act 2000 (c. 8)
- Terrorism Act 2000 (c. 11)
- Political Parties, Elections and Referendums Act 2000 (c. 41)
- Housing (Scotland) Act 2001 (asp 10)
- Land Registration Act 2002 (c. 9)
- Proceeds of Crime Act 2002 (c. 29)
- Income Tax (Earnings and Pensions) Act 2003 (c. 1)
- Licensing Act 2003 (c. 17)
- Fire and Rescue Services Act 2004 (c. 21)
- Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27)
- Housing Act 2004 (c. 34)
- Income Tax (Trading and Other Income) Act 2005 (c. 5)
- Charities and Trustee Investment (Scotland) Act 2005 (asp 10)
- Companies Act 2006 (c. 46)
- Income Tax Act 2007 (c. 3)
- Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (c. 26)
- Serious Crime Act 2007 (c. 27)
- Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3)
- Housing and Regeneration Act 2008 (c. 17)
- Local Transport Act 2008 (c. 26)
- Counter Terrorism Act 2008 (c. 28)
- Corporation Tax Act 2009 (c. 4)
- Finance Act 2009 (c. 10)
- Local Democracy, Economic Development and Construction Act 2009 (c. 20)
- Corporation Tax Act 2010 (c. 4)
- Taxation (International and Other Provisions) Act 2010 (c. 8)
- Finance Act 2010 (c. 13)
- Finance Act 2011 (c. 11)
- Localism Act 2011 (c. 20)
- Public Bodies Act 2011 (c. 24)
- Charities Act 2011 (c. 25)
- SCHEDULE 5 Transitionals and savings
- Continuity of the law
- Effect of old transitionals and savings
- Use of existing forms etc
- Meaning of “enactment”
- SCHEDULE 6 Transitory modifications etc
- Establishment of a single county court
- Amendments relating to the punishment of offences in England and Wales
- Land Registration etc. (Scotland) Act 2012 (asp 5)
- SCHEDULE 7 Repeals and revocations
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