Valid from 01/12/2013

Co-operative and community benefit societiesE+W+S

4Power to apply certain other provisions relating to companiesE+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 [F2appropriate 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.

Valid from 01/12/2013

Credit unionsU.K.

5Power to make provision corresponding to provision applying to building societiesU.K.

(1)In the Credit Unions Act 1979 (c. 34), before section 24 (under the heading “General and miscellaneous”) insert—

“23APower to make provision corresponding to provision applying to building societies

(1)The Treasury may by regulations amend this Act so as to make provision for credit unions corresponding to any enactment applying to building societies.

(2)The power conferred by subsection (1) may not be exercised so as to modify any of the following provisions of this Act—

(a)sections 1 and 2 (registration as a credit union);

(b)section 3 (use of name “credit union”);

(c)section 8 (general prohibition on deposit-taking), but without prejudice to the power to add exceptions to those in sections 9 and 10 and to modify those sections;

(d)section 21 (amalgamations and transfers of engagements);

(e)section 22 (no conversion of credit union into company, etc.);

(f)section 23 (conversion of company into credit union).

(3)Regulations under subsection (1) 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 enactments relating to building societies, 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.

(4)The Treasury may by regulations make such amendments of enactments as appear to them to be appropriate in consequence of any provision made under subsection (1).

This includes power to make consequential amendments of the provisions listed in subsection (2).

(5)In this section “enactment” includes—

(a)an enactment contained in subordinate legislation within the meaning of the Interpretation Act 1978 (c. 30),

(b)an enactment contained in, or in an instrument made under, an Act of the Scottish Parliament,

(c)an enactment contained in, or in an instrument made under, Northern Ireland legislation within the meaning of the Interpretation Act 1978, and

(d)an enactment contained in, or in an instrument made under, a Measure or Act of the National Assembly for Wales.

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

(7)No regulations under this section are to be made unless a draft has been laid before and approved by a resolution of each House of Parliament.”.

(2)In section 29(2) of that Act (orders and regulations: negative resolution procedure), at the beginning insert “ Except as provided by section 23A(7), ”.

(3)In section 33(4) of that Act (extent: Northern Ireland), after “With the exception of” insert “ section 23A so far as it confers power to make consequential amendments of enactments extending to Northern Ireland, ”.

Valid from 01/12/2013

6Consequential amendmentsU.K.

(1)The Treasury may by regulations make such amendments of enactments as appear to them to be appropriate in consequence of any provision made by or under this Act.

(2)This power is exercisable in relation to any enactment passed or made before the commencement of the relevant provision, and accordingly extends to the provisions of this Act (apart from this section).

(3)In this section “enactment” includes—

(a)an enactment contained in subordinate legislation within the meaning of the Interpretation Act 1978 (c. 30),

(b)an enactment contained in, or in an instrument made under, an Act of the Scottish Parliament,

(c)an enactment contained in, or in an instrument made under, Northern Ireland legislation within the meaning of the Interpretation Act 1978, and

(d)an enactment contained in, or in an instrument made under, a Measure or Act of the National Assembly for Wales.

(4)The power conferred by this section may, in particular, be exercised so as to replace the words “industrial and provident society” wherever occurring (including in the title of an enactment).

Valid from 01/12/2013

7RegulationsE+W+S

(1)Regulations under this Act may contain such supplementary, incidental and transitional provisions as appear to the Treasury to be necessary or expedient.

(2)Regulations under this Act must be made by statutory instrument.

(3)No regulations under this Act are to be made unless a draft has been laid before and approved by a resolution of each House of Parliament.