SCHEDULE 4 continued PART 2 continued
Contents page 1-9 10-19 20-29 30-39 40-49 50-59 60-69 70-78 80-89 90-99 100-109 110-119 120-120 Last page
Co-operative and Community Benefit Societies BillPage 100
(b)
section 110 of that Act (transfer of engagements
between societies), or
(c)
section 112 of that Act (conversion of society into a
company etc),”;
(b)
5in sub-paragraph (4)(b) for the words from “section 55(3)” to the end
substitute “section 123(3)(a) of the 2014 Act.”;
(c) in sub-paragraph (5)—
(i)
for the words from “section” to “1965” substitute “section 121
of the 2014 Act”;
(ii) 10for “section 58(6)” substitute “section 122”.
(7)
In paragraph 13(4) for the words from “section 53” to “society)” substitute
“section 115 of the Co-operative and Community Benefit Societies Act 2014
(conversion of company into registered society)”.
(8)
In paragraph 14(1)(b) for “section 55(1)(a) of the Industrial and Provident
15Societies Act 1965” substitute “section 123 of the Co-operative and
Community Benefit Societies Act 2014”.
(9) In paragraph 15—
(a)
in sub-paragraph (1)(a) for the words from “section 55(1)(a)” to
“dissolution)” substitute “section 119 or 123 of the Co-operative and
20Community Benefit Societies Act 2014 (dissolution by instrument of
dissolution or by winding up)”;
(b)
in sub-paragraph (2) for “the Industrial and Provident Societies Act
1965” substitute “the Co-operative and Community Benefit Societies
Act 2014”.
(10) 25In paragraph 15H—
(a)
in sub-paragraph (1)(b) for “another industrial and provident
society” substitute “another registered society”;
(b)
in sub-paragraph (3) for “another industrial and provident society”
substitute “another registered society”;
(c)
30in sub-paragraph (4) for “section 50 of the Industrial and Provident
Societies Act 1965” substitute “section 109 of the Co-operative and
Community Benefit Societies Act 2014”.
(11)
In the heading before paragraph 17 for “Industrial and provident societies”
substitute “Registered societies”.
(12) 35In paragraph 17—
(a)
in sub-paragraph (1) for “industrial and provident societies”
substitute “registered societies”;
(b) for sub-paragraph (2) substitute—
“(2)
Section 85 of the Co-operative and Community Benefit
40Societies Act 2014 (“the 2014 Act”) (duty to obtain
accountant’s report) has effect, in its application to such a
landlord, with the omission of subsection (1)(b)
(accountant’s report required only where turnover
exceeds a specified sum).”;
(c) 45in sub-paragraph (4) for paragraph (b) substitute—
“(b)
section 83 of the 2014 Act (duty to appoint auditors)
did not apply for the year because of a resolution
Co-operative and Community Benefit Societies BillPage 101
under section 84 of that Act (power to disapply
auditing requirements).”;
(d) for sub-paragraph (5) substitute—
“(5)
In this paragraph “qualified auditor” and “year of account”
5have the same meaning as in Part 7 of the 2014 Act.”
66
In Part 2 of Schedule 5 to the Scotland Act 1998, in the definition of “social
landlord” in Section C2 (insolvency), for “a society registered under the
Industrial and Provident Societies Act 1965” substitute “a registered society
10within the meaning of the Co-operative and Community Benefit Societies
Act 2014”.
67
In section 34A(4) of the Greater London Authority Act 1999 (restriction on
exercise of certain powers except through a taxable body) in paragraph (b)
15of the definition of “company” for the words from the beginning to “1965 or”
substitute “a registered society within the meaning of the Co-operative and
Community Benefit Societies Act 2014 or a society registered or deemed to
be registered under”.
68 20The Financial Services and Markets Act 2000 is amended as follows.
69
In section 138K(5)(c) (consultation: mutual societies) for “the Industrial and
Provident Societies Act 1965” substitute “the Co-operative and Community
Benefit Societies Act 2014”.
70
In section 355(1) (interpretation of Part 24) in the definition of “body” for “an
25industrial and provident society” substitute “a registered society”
71 Section 417(1) (definitions) is amended as follows.
(1) Omit the definition of “industrial and provident society”.
(2) Insert in the appropriate place—
““registered society” (except where otherwise indicated)
30means—
a registered society within the meaning of the Co-
operative and Community Benefit Societies Act 2014,
or
a society registered or deemed to be registered under
35the Industrial and Provident Societies Act (Northern
Ireland) 1969,”.
72
In Part 2 of Schedule 11A (transferable securities) in paragraph 7(2) for sub-
paragraph (d) substitute—
“(d) a registered society that—
(i)
40is registered under the Co-operative and
Community Benefit Societies Act 2014 as a
community benefit society,
Co-operative and Community Benefit Societies BillPage 102
(ii)
is a pre-commencement society within the meaning
of that Act that was registered in accordance with
section 2(2)(a)(ii) of that Act, or
(iii)
is registered in accordance with section 1(2)(b) of
5the Industrial and Provident Societies Act
(Northern Ireland) 1969;”.
73
(1)
Paragraph 2(1)(a) of Schedule 3A to the Terrorism Act 2000 (regulated sector
and supervisory authorities) is amended as follows.
(2)
10For “section 6 of the Industrial and Provident Societies Act 1965 (maximum
shareholding in society)” substitute “section 24 of the Co-operative and
Community Benefit Societies Act 2014 (maximum interest in a society’s
withdrawable shares)”.
(3) For “section 7(3)” substitute “section 67(2)”.
74
The Political Parties, Elections and Referendums Act 2000 is amended as
follows.
75
In section 26(8)(b) (financial structure of registered party: adoption of
scheme) for the words from “or a society” to “1965 or” substitute “, a
20registered society within the meaning of the Co-operative and Community
Benefit Societies Act 2014 or a society registered (or deemed to be registered)
under”.
76
In section 54(2)(g) (permissible donors) for the words from “or a society” to
“1965 or” substitute “, a registered society within the meaning of the Co-
25operative and Community Benefit Societies Act 2014 or a society registered
(or deemed to be registered) under”.
77
In Schedule 6 (details to be given in donation reports) in paragraph 2A(11)
for “or industrial and provident society” substitute “, a registered society
within the meaning of the Co-operative and Community Benefit Societies
30Act 2014 or a society registered (or deemed to be registered) under the
Industrial and Provident Societies Act (Northern Ireland) 1969,”.
78
In Schedule 6A (details to be given in transaction reports) in paragraph
2A(10) for “or industrial and provident society” substitute “, a registered
society within the meaning of the Co-operative and Community Benefit
35Societies Act 2014 or a society registered (or deemed to be registered) under
the Industrial and Provident Societies Act (Northern Ireland) 1969,”.
79
(1)
Section 83 of the Housing (Scotland) Act 2001 (interpretation of Part 3) is
amended as follows.
(2) 40In subsection (1)(a)—
(a)
for “an industrial and provident society” substitute “a co-operative
or community benefit society”;
Co-operative and Community Benefit Societies BillPage 103
(b)
for “section 74 of the Industrial and Provident Societies Act 1965”
substitute “section 149 of the Co-operative and Community Benefit
Societies Act 2014”.
(3)
In subsection (2), for “an industrial and provident society” substitute “a co-
5operative or community benefit society”.
80
In section 91 of the Land Registration Act 2002 (electronic dispositions:
formalities), for subsection (9A) substitute—
“(9A)
If subsection (3) of section 53 of the Co-operative and Community
10Benefit Societies Act 2014 (execution of documents) applies to a
document because of subsection (4) above, subsection (5) of that
section (presumption of due execution) shall have effect in relation to
the document with the substitution of “authenticated” for “signed”.”
81
15In paragraph 3 of Schedule 9 to the Proceeds of Crime Act 2002 (regulated
sector and supervisory authorities), for paragraph (a) substitute— ”.
“(a)
the issue of withdrawable share capital within the limit set
by section 24 of the Co-operative and Community Benefit
Societies Act 2014 by a registered society within the
20meaning of that Act;”.
82
(1)
In Part 4 of Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003
(approved share incentive plans: types of shares that may be awarded)
paragraph 28 is amended as follows.
(2)
25In sub-paragraph (4) for “a registered industrial and provident society
which is a co-operative society” substitute “a registered co-operative
society”.
(3) For sub-paragraph (5) substitute—
“(5) In sub-paragraph (4) “registered co-operative society” means—
(a)
30a society registered as a co-operative society under the Co-
operative and Community Benefit Societies Act 2014,
(b)
a pre-commencement society (within the meaning of that
Act) that is a co-operative society within the meaning of
section 2 of that Act, or
(c)
35a society registered or deemed to be registered under the
Industrial and Provident Societies Act (Northern Ireland)
1969 that is a co-operative society within the meaning of
section 1 of that Act.”
83 40The Licensing Act 2003 is amended as follows.
84
In section 64(2) (additional conditions for supply of alcohol) for “industrial
and provident societies” substitute “registered societies”.
Co-operative and Community Benefit Societies BillPage 104
85
(1)
Section 65 (industrial and provident societies, friendly societies etc) is
amended as follows.
(2)
In the heading for “Industrial and provident societies” substitute
“Registered societies”.
(3) 5In subsection (1) for paragraph (a) substitute—
“(a)
a registered society within the meaning of the Co-operative
and Community Benefit Societies Act 2014,”.
86
In section 5B(3)(b) of the Fire and Rescue Services Act 2004 (boundaries of
10power under section 5A) for the words from the beginning to “1965 or”
substitute “a registered society within the meaning of the Co-operative and
Community Benefit Societies Act 2014 or a society registered or deemed to
be registered under”.
87
15The Companies (Audit, Investigations and Community Enterprise) Act 2004
is amended as follows.
88
(1)
Section 15D(4)(g) (permitted disclosure of information obtained under
compulsory powers) is amended as follows.
(2) In sub-paragraph (i) omit “or to industrial and provident societies”.
(3) 20After that sub-paragraph insert—
“(ia) the Credit Unions Act 1979,”.
(4) At the end of sub-paragraph (iv) (before the “or”) insert—
“(v)
the Co-operative and Community Benefit Societies
Act 2014;”.
89
25In section 53(b) (ceasing to be a community interest company) for “an
industrial and provident society” substitute “a registered society”.
90
(1)
Section 56 (becoming an industrial and provident society) is amended as
follows.
(2)
In subsection (1) for “section 53 of the Industrial and Provident Societies Act
301965” substitute “section 115 of the Co-operative and Community Benefit
Societies Act 2014”.
(3)
In the heading for “an industrial and provident society” substitute “a
registered society”.
91
(1)
35In Schedule 14 to the Housing Act 2004 (buildings that are not HMOs for
certain purposes) paragraph 2B is amended as follows.
(2)
In sub-paragraph (3) for paragraph (a) (not including the “and” at the end of
it) substitute—
“(a)
is registered as a co-operative society under the 2014 Act or
40is a pre-commencement society (within the meaning of
Co-operative and Community Benefit Societies BillPage 105
that Act) that meets the condition in section 2(2)(a)(i) of
that Act,”.
(3) In sub-paragraph (4) for the definition of “the 1965 Act” substitute—
““the 2014 Act” means the Co-operative and Community
5Benefit Societies Act 2014;”.
92
The Income Tax (Trading and Other Income) Act 2005 is amended as
follows.
93
In sections 367(3) and 369(2) for “industrial and provident society
10payments” substitute “payments by registered societies or certain co-
operatives”.
94
(1)
Section 379 (industrial and provident society payments) is amended as
follows.
(2)
For the heading substitute “Payments by registered societies or certain co-
15operatives”.
(3)
In subsection (1)(a) for “registered industrial and provident society”
substitute “registered society”.
(4)
In subsection (2) for the definition of “registered industrial and provident
society” (not including the “and” at the end of it) substitute—
20““registered society” means—
a registered society within the meaning of the Co-
operative and Community Benefit Societies Act 2014,
or
a society registered or treated as registered under the
25Industrial and Provident Societies Act (Northern
Ireland) 1969,”.
95
In section 483(3) (exclusion of credit union group life policies) for paragraph
(a) (not including the “or” at the end of it) substitute—
“(a)
the Co-operative and Community Benefit Societies Act
302014,”.
96
The Charities and Trustee Investment (Scotland) Act 2005 is amended as
follows.
97
(1)
Section 56 (conversion of charity which is a company or registered friendly
35society: applications) is amended as follows.
(2)
In subsection (1)(b) for “the Industrial and Provident Societies Act 1965”
substitute “the Co-operative and Community Benefit Societies Act 2014”
(3)
In subsection (7) for “section 52(3) of the Industrial and Provident Societies
Act 1965” substitute “section 113(2) of the Co-operative and Community
40Benefit Societies Act 2014”.
98
In section 58(3)(b) (conversion: supplementary) for “Industrial and
Provident Societies Act 1965” substitute “Co-operative and Community
Benefit Societies Act 2014”.
Co-operative and Community Benefit Societies BillPage 106
99 The Companies Act 2006 is amended as follows.
100
(1)
Section 461(4)(g) (permitted disclosure of information obtained under
compulsory powers) is amended as follows.
(2) 5In sub-paragraph (i) omit “or to industrial and provident societies”.
(3) After that sub-paragraph insert—
“(ia) the Credit Unions Act 1979,”.
(4) At the end of sub-paragraph (iv) (before the “or”) insert—
“(v)
the Co-operative and Community Benefit Societies
10Act 2014;”.
101
In section 1099(3)(e) (registrar’s index of company names etc) for “the
Industrial and Provident Societies Act 1965” substitute “the Co-operative
and Community Benefit Societies Act 2014”.
102
(1)
In Part 2 of Schedule 2 (permitted disclosure for purposes of section 948 of
15Act) paragraph 37 is amended as follows.
(2) In sub-paragraph (a) omit “or to industrial and provident societies”.
(3) After sub-paragraph (aa) insert—
“(ab) the Credit Unions Act 1979;”.
(4) After sub-paragraph (d) insert—
“(e)
20the Co-operative and Community Benefit Societies Act
2014.”
103
(1)
In Part 2 of Schedule 11A (permitted disclosure for purposes of section
1224A of Act) paragraph 52 is amended as follows.
(2) In sub-paragraph (a) omit “or to industrial and provident societies”.
(3) 25After sub-paragraph (aa) insert—
“(ab) the Credit Unions Act 1979;”.
(4) After sub-paragraph (d) insert—
“(e)
the Co-operative and Community Benefit Societies Act
2014.”
104 The Income Tax Act 2007 is amended as follows.
105 (1) Section 151(1) (interpretation of Chapter 6 of Part 4) is amended as follows.
(2)
In the definition of “excluded company” in paragraph (d) for “registered
industrial and provident society” substitute “registered society”.
(3)
35For the definition of “registered industrial and provident society”
substitute—
““registered society” means—
a registered society within the meaning of the Co-
operative and Community Benefit Societies Act 2014,
40or
Co-operative and Community Benefit Societies BillPage 107
a society registered or treated as registered under the
Industrial and Provident Societies Act (Northern
Ireland) 1969,”.
106
In section 198A(9) (excluded activities: subsidised generation or export of
5electricity) for the definitions of “community benefit society” and “co-
operative society” substitute—
““community benefit society” means—
a society registered as a community benefit society
under the Co-operative and Community Benefit
10Societies Act 2014, or
a pre-commencement society (within the meaning of
that Act) that meets the condition in section 2(2)(a)(ii)
of that Act;
“co-operative society” means—
15a society registered as a co-operative society under
the Co-operative and Community Benefit Societies
Act 2014, or
a pre-commencement society (within the meaning of
that Act) that meets the condition in section 2(2)(a)(i)
20of that Act;”.
107
In section 309A(9) (excluded activities: subsidised generation or export of
electricity) for the definitions of “community benefit society” and “co-
operative society” substitute—
““community benefit society” means—
25a society registered as a community benefit society
under the Co-operative and Community Benefit
Societies Act 2014, or
a pre-commencement society (within the meaning of
that Act) that meets the condition in section 2(2)(a)(ii)
30of that Act;
“co-operative society” means—
a society registered as a co-operative society under
the Co-operative and Community Benefit Societies
Act 2014, or
35a pre-commencement society (within the meaning of
that Act) that meets the condition in section 2(2)(a)(i)
of that Act;”.
108
In section 853(2)(b)(iii) (meaning of “deposit-taker”) for “the Industrial and
Provident Societies Act 1965” substitute “the Co-operative and Community
40Benefit Societies Act 2014”.
109
In section 874(5)(a) (duty to deduct from certain payments of yearly interest)
for “registered industrial and provident society” substitute “registered
society”.
110
(1)
Section 887 (industrial and provident society payments) is amended as
45follows.
(2) For the heading substitute “Payments made by registered societies”.
(3)
In subsection (1)(a) for “registered industrial and provident society”
substitute “registered society”.
Co-operative and Community Benefit Societies BillPage 108
(4)
In subsection (2) for “registered industrial and provident society” substitute
“registered society”.
(5) For subsection (5) substitute—
“(5) In this Chapter “registered society” means—
(a)
5a registered society within the meaning of the Co-operative
and Community Benefit Societies Act 2014, or
(b)
a society registered or treated as registered under the
Industrial and Provident Societies Act (Northern Ireland)
1969.”
111
10In section 991(3)(c) (meaning of “bank”) for “the Industrial and Provident
Societies Act 1965” substitute “the Co-operative and Community Benefit
Societies Act 2014”.
112 (1) Schedule 4 (index of defined expressions) is amended as follows.
(2) Omit the entries for “registered industrial and provident society”.
(3) 15In the appropriate place insert—
| “registered society (in Chapter 6 of Part 4) |
section 151(1) |
| registered society (in Chapter 3 of Part 15) |
section 887(5)”. |
113
The Building Societies (Funding) and Mutual Societies (Transfers) Act 2007
is amended as follows.
114 (1) Section 3 (transfers to subsidiaries of other mutuals) is amended as follows.
(2) In subsection (10) for paragraph (c) substitute—
“(c)
25a registered society within the meaning of the Co-operative
and Community Benefit Societies Act 2014;”.
(3) In subsection (11) for paragraph (c) substitute—
“(c)
sections 112 to 114 of the Co-operative and Community
Benefit Societies Act 2014;”.
115
30In section 4(5) (transfers to subsidiaries: distribution of funds) for paragraph
(c) substitute—
“(c)
in relation to a registered society within the meaning of the
Co-operative and Community Benefit Societies Act 2014, the
resolution required by section 112 of that Act.”
116
(1)
Section 27(12) of the Serious Crime Act 2007 (powers to wind up companies
etc: England and Wales and Scotland) is amended as follows.
(2) Omit the definition of “industrial and provident society”.
Co-operative and Community Benefit Societies BillPage 109
(3) In the definition of “relevant body” for paragraph (c) substitute—
“(c)
a registered society within the meaning of the Co-operative
and Community Benefit Societies Act 2014;”.
117
5Section 49 of the Bankruptcy and Diligence etc. (Scotland) Act 2007 is
amended as follows.
118 (1) Subsection (1) is amended as follows.
(2)
For the words from “section 3” to “1967” substitute “section 62 (floating
charges created by Scottish societies) of the Co-operative and Community
10Benefit Societies Act 2014”.
(3)
For the words from “3 Application to registered society” to the end
substitute—
(1)
Part 2 of the Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp
153) (“the 2007 Act”) applies to a registered society as it applies to an
incorporated company.
(2)
Subsection (3) applies where any assets of a registered society are
subject to—
(a)
a floating charge created under Part 2 of the 2007 Act (as
20applied by this section), and
(b)
an agricultural charge created under Part 2 of the
Agricultural Credits (Scotland) Act 1929.
(3)
For the purposes of determining the relative ranking of those
charges, the following provisions of the 2007 Act apply as if the
25agricultural charge were a floating charge created under Part 2 of
that Act on the date of creation of the agricultural charge—
section 40(1) to (3) (including as subject to section 41(1) to (4)),
section 45(3)(c).”
119 In subsection (2), for “4” substitute “63”.
120 (1) 30Subsection (3) is amended as follows.
(2)
For “5 (supplemental provisions)” substitute “64 (notification of charges etc:
Scotland)”.
(3) For paragraph (a) substitute—
“(a) for paragraph (a) of subsection (1) substitute—
“(a)
35the giving to the FCA of notice of any security, except a
floating charge, granted by a registered society over any
of its assets;””.
(4) In paragraph (b) for “4” substitute “63”.
121 40The Housing and Regeneration Act 2008 is amended as follows.