The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (c.7) is an Act of the

Parliament of the United Kingdom The Parliament of the United Kingdom is the supreme legislative body of the United Kingdom, the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster, London. It alone possesses legislative suprema ...

that received

Royal Assent Royal assent is the method by which a monarch formally approves an act of the legislature, either directly or through an official acting on the monarch's behalf. In some jurisdictions, royal assent is equivalent to promulgation, while in other ...

on 18 March 2010.

Provisions

The Act provides that: * Industrial and Provident Societies will be either a Co-operative Society or a Community Benefit Society or a Pre-2010 Act Society. * Like companies, organisations registered as societies under the

Co-operative and Community Benefit Societies and Credit Unions Act 1965 The Industrial and Provident Societies Act 1965 (c. 12) was an Act of the Parliament of the United Kingdom that regulated industrial and provident societies in Great Britain and the Channel Islands. From 1 August 2014 it was repealed and repla ...

will be subject to the

Company Directors Disqualification Act 1986 The Company Directors Disqualification Act 19861986 c. 46 forms part of UK company law and sets out the procedures for company directors to be disqualified in certain cases of misconduct. History Lord Millett, in the opinion he gave in , summar ...

. Board or Management Committee members will be treated like company directors. * Societies registered under the 1965 Act may be made subject to additional

Companies Act 2006 The Companies Act 2006 (c 46) is an Act of the Parliament of the United Kingdom which forms the primary source of UK company law. The Act was brought into force in stages, with the final provision being commenced on 1 October 2009. It largely ...

provisions, following consultation, which may relate to: Investigations of companies, company names, dissolution and restoration to the register. * Renames related acts including 'Industrial and Provident Societies Act 1965' to '

Parliamentary process

The Bill was first presented (

first reading A reading of a bill is a stage of debate on the bill held by a general body of a legislature. In the Westminster system, developed in the United Kingdom, there are generally three readings of a bill as it passes through the stages of becoming, ...

) in the

House of Lords The House of Lords, also known as the House of Peers, is the Bicameralism, upper house of the Parliament of the United Kingdom. Membership is by Life peer, appointment, Hereditary peer, heredity or Lords Spiritual, official function. Like the ...

on 19 November 2009 and received its

third reading A reading of a bill is a stage of debate on the bill held by a general body of a legislature. In the Westminster system, developed in the United Kingdom, there are generally three readings of a bill as it passes through the stages of becoming, ...

on 14 January 2010. It was first read in the

House of Commons The House of Commons is the name for the elected lower house of the bicameral parliaments of the United Kingdom and Canada. In both of these countries, the Commons holds much more legislative power than the nominally upper house of parliament. ...

on 14 January 2010 and received its third reading on 12 March 2010.

References

United Kingdom Acts of Parliament 2010 Co-operatives in the United Kingdom {{UK-statute-stub

Provisions

Parliamentary process

See also

References