Amendment Paper as at
Friday 19th April 2002
CONSIDERATION OF BILL
INDUSTRIAL AND PROVIDENT SOCIETIES BILL
NEW CLAUSES
Power to modify, etc. to assimilate to company law
Mr Gareth R. Thomas
NC1
To move the following Clause:—
'(1) If, on any modification of the statutory provisions in force in Great Britain relating to companies, it appears to the Treasury to be expedient to modify the relevant statutory provisions for the purpose of assimilating the law relating to companies and the law relating to industrial and provident societies, the Treasury may, by order, make such modifications of the relevant statutory provisions as they think appropriate for that purpose.
(2) The "relevant statutory provisions" are the provisions of the Industrial and Provident Societies Acts 1965 to 1978 as for the time being in force except the following provisions of the 1965 Act—
| (a) | section 1 (societies which may be registered); |
| (b) | section 10(1) (amendments of registered rules); |
| (c) | sections 16 to 18 (cancellation, suspension or refusal of registration of society or rules); |
| (d) | sections 23 to 27 (nominations, provision for intestacy, payment in respect of mentally incapable persons and validity of payments); |
| (e) | sections 50 to 54 (amalgamation, transfer of engagements and conversions); |
| (f) | section 55(b) (dissolution of registered society by instrument); |
| (g) | section 56 (power of registrar to petition for winding up); |
| (h) | section 58 (instrument of dissolution); and |
| (i) | section 59 (restriction on dissolution or cancellation of registration of society). |
(3) The power conferred by subsection (1) of this section includes power to modify the relevant statutory provisions so as to—
| (a) | confer power to make orders, regulations, rules or other subordinate legislation; |
| (b) | create criminal offences; or |
| (c) | provide for the charging of fees but not any charge in the nature of taxation. |
(4) An order under this section may—
| (a) | make consequential amendments of or repeals in the provisions listed in subsection (2) of this section; or |
| (b) | make such transitional or saving provisions as appear to the Treasury to be necessary or expedient. |
(5) The power to make an order under this section shall be exercisable by statutory instrument and no such order shall be made unless a draft of it has been laid before and approved by a resolution of each House of Parliament.
(6) In this section—
| | "modification" includes any additions and, as regards modifications of the statutory provisions relating to companies, any modification whether effected by any future Act or by an instrument made after the passing of this Act under an Act whenever passed; and |
| | "statutory provisions" except in the expression "relevant statutory provisions" includes the provisions of any instrument made under an Act.'. |
Channel Islands
Mr Gareth R. Thomas
NC2
To move the following Clause:—
'(1) Her Majesty may by Order in Council direct that any of the provisions of this Act or any instrument made under it shall extend, with such modifications (if any) as may be specified in the Order, to any of the Channel Islands.
(2) An Order in Council under this section may make such transitional, incidental or supplementary provisions as appears to Her Majesty to be necessary or expedient.'.
Annual fees
Mr Greg Knight [R]
Mr David Chidgey [R]
Mr Christopher Chope
Mr Andrew Mitchell
NC3
To move the following Clause:—
'Annual fees The annual fee payable by a club, society or any other organisation for registration under the Industrial and Provident Societies Acts 1965 to 2002 shall be an identical sum to the current annual return fee payable by limited companies.'.
Financial Services Authority: fees to be charged in respect of industrial and provident societies
Ken Purchase
Mr Adrian Bailey
NC4
To move the following Clause:—
'Paragraph 17 of Schedule 1 of the Financial Services and Markets Act 2000 is amended by inserting after sub-paragraph (2)—
| | "(2A) Any fee charged in respect of functions carried out by the Authority under the Industrial and Provident Societies Acts 1965 to 1978 shall be fixed in a manner which has regard to the financial circumstances of the society or proposed society which is to pay it including their turnover, profitability and scale of operation and in no circumstances will the fee charged where an existing society's turnover was less than £1,000,000 in its last year of account or where a new society is applying for registration exceed the fee chargeable in respect of the equivalent function by the Registrar of Companies.'. |
Mr Gareth R. Thomas
2
Page 1, line 7 [Clause 1], leave out 'subsections (2) and' and insert 'subsection'.
Mr Gareth R. Thomas
3
Page 1, line 8 [Clause 1], leave out subsection (2).
Mr Gareth R. Thomas
1
Page 2, line 27, leave out Clause 2.
Mr Andrew Love
Doug Naysmith
8
Page 2, line 28 [Clause 2], leave out 'a community benefit' and insert 'an industrial and provident'.
Mr Andrew Love
Doug Naysmith
9
Page 2, line 35 [Clause 2], leave out 'community benefit' and insert 'industrial and provident'.
Mr Andrew Love
Doug Naysmith
6
Page 2, line 40 [Clause 2], after 'cannot', insert 'save with the written consent of the Financial Services Authority'.
Mr Andrew Love
Doug Naysmith
10
Page 2, line 46 [Clause 2], leave out 'a community benefit' and insert 'an industrial and provident'.
Mr Andrew Love
Doug Naysmith
11
Page 3, line 2 [Clause 2], leave out 'community benefit' and insert 'industrial and provident'.
Mr Andrew Love
Doug Naysmith
12
Page 3, line 3 [Clause 2], leave out from 'Act' to end of line 4.
Mr Andrew Love
Doug Naysmith
13
Page 3, line 5 [Clause 2], leave out 'community benefit society means a community benefit' and insert 'industrial and provident society means an industrial and provident'.
Mr Andrew Love
Doug Naysmith
14
Page 3, line 12 [Clause 2], leave out paragraph (b).
Mr Andrew Love
Doug Naysmith
15
Page 3 [Clause 2], leave out lines 27 and 28.
Mr Andrew Love
Doug Naysmith
7
Page 3, line 34 [Clause 2], at end insert—
'(6) In exercising its discretion as to whether to give its consent under paragraph (c) of subsection (1), the Financial Services Authority shall have regard to the following matters:
| (a) | the purpose or intention of the society's members evidenced by the rules of the society and, in particular, by the inclusion of the provisions referred to in subsection (1); |
| (b) | the interests of the community for whose benefit the society was registered and its successors; |
| (c) | whether the whole or any part of the value represented by the assets of the society should be dedicated to the continued benefit of the community; and |
| (d) | whether the transfer of engagements, amalgamation or conversion referred to in paragraph (c) of subsection (1) is necessary in the interests of the viability of the industry business or trade carried on by the society.'. |
Mr Gareth R. Thomas
4
Page 3, line 35, leave out Clause 3.
Mr Gareth R. Thomas
5
Title, line 5, leave out from 'company;' to 'and' in line 7.
