Co-operative & Community Benefit Societies and Credit Unions Bill [HL] Bill No. 50
The Bill requires new industrial and provident societies (other than credit unions) to be registered as co-operative or community benefit societies, re-names the Industrial and Provident Societies Acts, and applies the Company Directors Disqualification Act 1986 to industrial and provident societies. The Bill also gives the Treasury powers to apply company law on the investigation of companies, company names and dissolution and restoration to the register, to industrial and provident societies, and to make provisions for credit unions corresponding to any provisions applying to building societies.
The Bill requires new industrial and provident societies (other than credit unions) to be registered as co-operative or community benefit societies, re-names the Industrial and Provident Societies Acts, and applies the Company Directors Disqualification Act 1986 to industrial and provident societies. The Bill also gives the Treasury powers to apply company law on the investigation of companies, company names and dissolution and restoration to the register, to industrial and provident societies, and to make provisions for credit unions corresponding to any provisions applying to building societies.