The Industrial and Provident Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

[^f00049]: Schedule A1 was inserted by the Insolvency Act 2000, Schedule 1, paragraphs 1 and 4; and was amended by the Enterprise Act 2002, Schedule 17, paragraphs 9 and 37, by the Financial Services Act 2012 (c. 21), Schedule 18, paragraphs 51 and 54, and by S.I. 2002/1555, 2004/2312, 2008/1897 and 2009/ 1941. There are other amendments not relevant to this Order.

[^f00050]: Section 4 is prospectively repealed by the Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), section 49(2). Section 4(3) was amended by S.I. 2001/2617; 2001/3649 and 2013/496.

[^f00051]: 1929 c. 13 (19 and 20 Geo. 5).

[^f00052]: Schedule B1 was inserted by the Enterprise Act 2002, section 248(2) and Schedule 16; and was amended by the Financial Services Act 2012, Schedule 18, paragraphs 51 and 55, and by S.I. 2003/2096, 2008/948 and 2008/1897. There are other amendments not relevant to this Order.

[^f00053]: Section 3 was substituted by the Companies Consolidation (Consequential Provisions) Act 1985 (c. 9), section 26, was amended by S.I. 2001/2617 and 2009/1941, and is prospectively substituted by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), section 49(1).

[^f00054]: Section 10 was amended by S.I. 1996/1738, 2001/2617, 2001/3649 and 2013/496.

[^f00055]: For the meaning of “administrative receiver” see paragraph 1 of Schedule A1 as modified by paragraph 6(a) of this Schedule; and for the meaning of “floating charge” see the modification of Schedule A1 made by paragraph 7 of this Schedule.

[^f00056]: Paragraph 2 of Schedule 1 was amended by the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp 5), section 76(2) and Schedule 13, Part 1.

[^f00057]: 1979 c. 34.

[^f00058]: Section 7 was amended by S.I. 2011/2687.

[^f00059]: Section 7A was inserted by S.I. 2011/2687.

[^f00060]: Section 8 was amended by S.I. 2002/1501.

[^f00061]: Section 6 was amended by S.I. 1997/627, 2011/2687 and 2014/210.

[^f00062]: Section 7 was amended by the Criminal Procedure (Scotland) Act 1975 (c. 21), section 289G, by the Criminal Justice Act 1982 (c. 48), section 46, and by S.I. 1981/394.

[^f00063]: 1968 c. 55.

[^f00064]: Section 899 was amended by S.I. 2008/948 and 2011/1265.

[^f00065]: Section 896 was amended by S.I. 2008/948.

[^f00066]: For the meaning of “contributory” see section 79 of the 1986 Act, which has effect in relation to a relevant society with the modification in paragraph 1(b) of Schedule 1 to this Order.

[^f00067]: Sections 2B and 3A were substituted by the Financial Services Act 2012 (c. 21), section 6(1), which substituted new Part 1A of FSMA.

[^f00068]: Section 212 was amended by the Financial Services Act 2012, Schedule 10, paragraphs 1 and 2.

[^f00069]: 1985 c. 66. Section 74 was amended by the Civil Partnership Act 2004 (c. 33), section 261(2) and Schedule 28, paragraph 40, and by S.S.I. 2008/82.

[^f00070]: Section 388 was amended by the Bankruptcy (Scotland) Act 1993 (c. 6), section 11(1), by the Insolvency Act 2000, section 4(1) and (2)(a) and (c), and by S.I. 2009/1941. There are other amendments not relevant to this Order.

[^f00071]: Section 431 was amended by the Criminal Procedure (Consequential Provisions) (Scotland) Act 1995, section 5 and Schedule 4, paragraph 61.

[^f00072]: Section 432 was amended by the Insolvency Act 2000, Schedule 1, paragraphs 1 and 11.

[^f00073]: Schedule 10 was amended by the Insolvency Act 2000, Schedule 1, paragraphs 1 and 12 and Schedule 2, paragraphs 1 and 12, by the Enterprise Act 2002 (c. 40), Schedule 17, paragraphs 9 and 39, and by S.I. 2009/1941.

[^f00074]: Section 212 was amended by the Financial Services Act 2012, Schedule 10, paragraphs 1 and 2.

[^f00075]: Sections 2B and 3A were substituted by the Finance Act 2012, section 6(1), which substituted new Part 1A of FSMA.

[^f00076]: For the meaning of “administrative receiver” see paragraph 1 of Schedule A1 as modified by paragraph 6(a) of Schedule 1 to this Order.

[^f00077]: For the meaning of “floating charge” see the modification of Schedule A1 made by paragraph 7 of Schedule 1 to this Order.

[^f00078]: Section 1 was amended by S.I. 1996/1738, 2001/2617, 2001/3649 and 2013/496.

[^f00079]: 1928 c. 43. Section 9 was amended by the Land Charges Act 1972 (c. 61), Schedule 3, paragraph 7, and by S.I. 2011/2436.

[^f00080]: The definition of “relevant society” is inserted by article 17(5) of this Order.

[^f00081]: Part 12A (provisions of general effect) was inserted by S.I. 2010/686.

[^f00082]: S.I. 2003/2097.

[^f00083]: For the meaning of “floating charge” see the modification of Schedule A1 made by paragraph 7 of Schedule 1 to this Order.

[^f00084]: Section 4 was amended by the Companies (Floating Charges and Receivers) (Scotland) Act 1972 (c. 67), section 10(iv), by the Companies Consolidation (Consequential Provisions) Act 1985 (c.9), section 26(4), and by S.I. 1996/1738, 2001/2617, 2001/3649 and 2013/496.

[^f00085]: 1929 c. 13.

[^f00086]: 2002 c. 40.

[^f00087]: Section 52 applies with regard to a proposal to make a distribution to member-depositors by virtue of the application of paragraph (3) of Rule 2.41. Section 52 was amended by the Bankruptcy (Scotland) Act 1993 (c. 6), section 11(3) and Schedule 1, paragraph 21, and section 11(4) and Schedule 2; by the Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), Schedule 1, paragraphs 1 and 44, and section 226(2) and Schedule 6; and by S.I. 2003/2109.

[^f00088]: The definition of “relevant society” is inserted by article 17(5) of this Order.

[^f00089]: S.I. 2003/2097.

[^f00090]: Section 176A was inserted by the Enterprise Act 2002 (c.40), section 252.

[^f00091]: S.I. 2005/590; relevant amending instruments are S.I. 2005/993; 2005/2153 and 2009/451.

[^f00092]: S.I. 2010/3023.

[^f00093]: S.I. 2001/2634.

[^f00094]: The definition of “relevant society” is inserted by article 17(5) of this Order.

Editorial notes

[^c22008741]: 2002 c. 40.

[^c22008771]: 1986 c. 45.

[^c22008781]: 2006 c. 46.

[^c22008791]: The definition was amended by the Financial Services Act 2012 (c. 21), Schedule 14, paragraphs 1 and 6(1) and (5).

[^c22008801]: S.I. 2001/544.

[^c22008811]: 2000 c. 8.

[^c22008831]: Section 213(9)(a) was amended by the Financial Services Act 2012, Schedule 10, paragraphs 1 and 3(1) and (6).

[^c22008841]: 1996 c. 52.

[^c22008851]: 2010 asp 17.

[^c22008861]: Section 22 and Schedule 2 were amended by the Financial Services Act 2012, section 7.

[^c22008871]: The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) is relevant.

[^c22008881]: Schedule B1 was inserted by the Enterprise Act 2002, section 248(2) and Schedule 16; and was amended by the Financial Services Act 2012, Schedule 18, paragraphs 51 and 55, and by S.I. 2003/2096, 2008/948 and 2008/1897. There are other amendments not relevant to this Order.

[^c22008891]: Part 2, substituted by the Enterprise Act 2002, section 248(1), gives effect to Schedule B1, which is inserted in the 1986 Act by the Enterprise Act 2002, section 248(2) and Schedule 16.

[^c22008901]: Section 176A was inserted by the Enterprise Act 2002, section 252.

[^c22008911]: Subsection (4)(b) was amended by S.I. 2008/948.

[^c22008921]: Section 215 was amended by the Banking Act 2009 (c. 1), section 175; by the Enterprise Act 2002, Schedule 17, paragraph 54(2), and by the Finance Act 2012, Schedule 10, paragraph 5. There are other amendments not relevant to this Order.

[^c22008931]: Section 356 was amended by the Insolvency Act 2000 (c.39), section 15(3), and by the Financial Services Act 2012, Schedule 14, paragraphs 1 and 3.

[^c22008941]: Section 6 was amended by the Insolvency Act 2000, Schedule 2, paragraphs 1 and 7, and by the Enterprise Act 2002, Schedule 17, paragraphs 9 and 12. There are other amendments not relevant to this Order.

[^c22008951]: Section 7 was amended by the Insolvency Act 2000, Schedule 2, paragraphs 1 and 9.

[^c22008961]: Section 359 was substituted by the Enterprise Act 2002, Schedule 17, paragraphs 53 and 55; and was amended by the Financial Services Act 2012, Schedule 14, paragraphs 1 and 6. There are other amendments not relevant to this Order.

[^c22008971]: Section 361 was substituted by the Enterprise Act 2002, Schedule 17, paragraphs 53 and 56; and was amended by the Financial Services Act 2012, Schedule 14, paragraphs 1 and 7. There are other amendments not relevant to this Order.

[^c22008981]: Section 362 was amended by the Enterprise Act 2002, Schedule 17, paragraphs 53 and 57, by the Financial Services Act 2012, Schedule 14, paragraphs 1 and 8, and by S.I. 2008/948. There are other amendments not relevant to this Order.

[^c22008991]: Section 362A was inserted by the Enterprise Act 2002, Schedule 17, paragraphs 53 and 58; and was amended by the Financial Services Act 2012, Schedule 14, paragraphs 1 and 9.

[^c22009001]: S.I. 1989/2405 (N.I. 19). Schedule B1 was inserted by S.I. 2005/1455 (N.I. 10) and amended by S.R. 2006/370. There are other amendments not relevant to this Order.

[^c22009011]: Section 22 was amended by section 7(1) of the Financial Services Act 2012.

[^c22009021]: S.I. 1986/1925 as amended by S.I. 1987/1919; 1989/397; 2003/1730; s004/584; 2005/527; 2006/1272; 2009/642 and 2010/686. There are other amendments not relevant to this Order.

[^c22009031]: Section 1 was amended by the Insolvency Act 2000, Schedule 2, paragraphs 1 and 2, and by the Enterprise Act 2002, Schedule 17, paragraphs 9 and 10. There are other amendments not relevant to this Order.

[^c22009041]: S.I. 1986/1915 as amended by S.I. 1987/1921; 2002/2709; 2003/2111; 2006/734; 2008/662; 2009/662; 2009/2375; and 2010/688. There are other amendments not relevant to this Order.

[^c22009091]: Section 1 was amended by S.I. 1996/1738, 2001/2617 and 2001/3649.

[^c22009101]: 1928 c. 43. Section 9 was amended by the Land Charges Act 1972 (c. 61), Schedule 3, paragraph 7, and by S.I. 2011/2436.

[^c22009111]: Section 49 was amended by S.I. 2001/2617 and 2013/496.

[^c22009121]: Section 1A and Schedule A1 were inserted by the Insolvency Act 2000 (c. 39), section 1 and Schedule 1, paragraphs 1, 2 and 4.

[^c22009131]: Section 55 was substituted by S.I. 2009/1941; and was amended by S.I. 2011/2687 and 2013/496.

[^c22009151]: Section 1 was amended by the Insolvency Act 2000, Schedule 2, paragraphs 1 and 2, and by the Enterprise Act 2002 (c. 40), Schedule 17, paragraphs 9 and 10. There are other amendments not relevant to this Order.

[^c22009171]: 1979 c.34.

[^c22009181]: Subsection 1 was amended by the Enterprise Act 2002, Schedule 17, paragraphs 9 and 10(a).

[^c22009191]: Section 7A was inserted by the Insolvency Act 2000, Schedule 2, paragraphs 1 and 10.

[^c22009201]: Subsection (3) was amended by S.I. 2009/1941.

[^c22009251]: Schedule B1 was inserted by the Enterprise Act 2002, section 248(2) and Schedule 16; and was amended by the Financial Services Act 2012, Schedule 18, paragraphs 51 and 55, and by S.I. 2003/2096, 2008/948 and 2008/1897. There are other amendments not relevant to this Order.

[^c22009281]: For the meaning of “administrative receiver” see paragraph 1 of Schedule A1 as modified by paragraph 6(a) of this Schedule; and for the meaning of “floating charge” see the modification of Schedule A1 made by paragraph 7 of this Schedule.

[^c22009291]: Paragraph 2 of Schedule 1 was amended by the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp 5), section 76(2) and Schedule 13, Part 1.

[^c22009301]: 1979 c. 34.

[^c22009311]: Section 7 was amended by S.I. 2011/2687.

[^c22009321]: Section 7A was inserted by S.I. 2011/2687.

[^c22009331]: Section 8 was amended by S.I. 2002/1501.

[^c22009371]: Section 899 was amended by S.I. 2008/948 and 2011/1265.

[^c22009381]: Section 896 was amended by S.I. 2008/948.

[^c22009391]: For the meaning of “contributory” see section 79 of the 1986 Act, which has effect in relation to a relevant society with the modification in paragraph 1(b) of Schedule 1 to this Order.

[^c22009401]: Sections 2B and 3A were substituted by the Financial Services Act 2012 (c. 21), section 6(1), which substituted new Part 1A of FSMA.

[^c22009411]: Section 212 was amended by the Financial Services Act 2012, Schedule 10, paragraphs 1 and 2.

[^c22009421]: 1985 c. 66. Section 74 was amended by the Civil Partnership Act 2004 (c. 33), section 261(2) and Schedule 28, paragraph 40, and by S.S.I. 2008/82.

[^c22009431]: Section 388 was amended by the Bankruptcy (Scotland) Act 1993 (c. 6), section 11(1), by the Insolvency Act 2000, section 4(1) and (2)(a) and (c), and by S.I. 2009/1941. There are other amendments not relevant to this Order.

[^c22009441]: Section 431 was amended by the Criminal Procedure (Consequential Provisions) (Scotland) Act 1995, section 5 and Schedule 4, paragraph 61.

[^c22009451]: Section 432 was amended by the Insolvency Act 2000, Schedule 1, paragraphs 1 and 11.

[^c22009461]: Schedule 10 was amended by the Insolvency Act 2000, Schedule 1, paragraphs 1 and 12 and Schedule 2, paragraphs 1 and 12, by the Enterprise Act 2002 (c. 40), Schedule 17, paragraphs 9 and 39, and by S.I. 2009/1941.

[^c22009471]: Section 212 was amended by the Financial Services Act 2012, Schedule 10, paragraphs 1 and 2.

[^c22009481]: Sections 2B and 3A were substituted by the Finance Act 2012, section 6(1), which substituted new Part 1A of FSMA.

[^c22009521]: 1928 c. 43. Section 9 was amended by the Land Charges Act 1972 (c. 61), Schedule 3, paragraph 7, and by S.I. 2011/2436.

[^c22009541]: Part 12A (provisions of general effect) was inserted by S.I. 2010/686.

[^c22009551]: S.I. 2003/2097.

[^c22009561]: For the meaning of “floating charge” see the modification of Schedule A1 made by paragraph 7 of Schedule 1 to this Order.

[^c22009581]: 1929 c. 13.

[^c22009601]: Section 52 applies with regard to a proposal to make a distribution to member-depositors by virtue of the application of paragraph (3) of Rule 2.41. Section 52 was amended by the Bankruptcy (Scotland) Act 1993 (c. 6), section 11(3) and Schedule 1, paragraph 21, and section 11(4) and Schedule 2; by the Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), Schedule 1, paragraphs 1 and 44, and section 226(2) and Schedule 6; and by S.I. 2003/2109.

[^c22009621]: S.I. 2003/2097.

[^c22009631]: Section 176A was inserted by the Enterprise Act 2002 (c.40), section 252.

[^c22009641]: S.I. 2005/590; relevant amending instruments are S.I. 2005/993; 2005/2153 and 2009/451.

[^c22009651]: S.I. 2010/3023.

[^c22009661]: S.I. 2001/2634.

[^key-3bc48c40367390cdbfc8f588cf7e9766]: Title amended (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 33

[^key-32a265c75dab5bff37ba374884a5b186]: Arts. 13-15 substituted for arts. 13-16 (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 4

[^key-5eef8a9481437d9a758bbc3eb3d012fb]: Sch. 5 para. 1A inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 8(a)

[^key-c94b8d0990ab05650789878ad9187b58]: Words in art. 1(1) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 33

[^key-c04147d843fbf777550ed66020c6ec26]: Words in art. 1(2) omitted (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(a)

[^key-ef18c109681ed344dc3d84a8c42a4cf2]: Words in art. 1(2) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(b)

[^key-9ab499aae5032b79f054e17921478b7d]: Words in art. 1(2) omitted (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(c)

[^key-273ec36e88899f02c6025196618dec38]: Words in art. 1(2) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(d)

[^key-ae7d042685fa8febc36dfe61b0b1e853]: Words in art. 1(2) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 3(e)

[^key-1010894fc44b5e7ae856cb45f1c78acb]: Words in Sch. 1 para. 1(i) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(a)(i)

[^key-1f6e0c56a71a0a924c60a7d3492b31a2]: Words in Sch. 1 para. 1(k) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(a)(ii)

[^key-71d4ced3093eedb1541f46d566a9e9c5]: Words in Sch. 1 para. 3(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(b)

[^key-01b45597eaa720f66eacbe8502e0360e]: Words in Sch. 1 para. 5(b) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(c)(i)

[^key-53fb76d5f5386ede4a7f1693f409bae5]: Words in Sch. 1 para. 5(b) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(c)(ii)

[^key-db02414f9060dcf94e0a3e70a1f96ac7]: Words in Sch. 1 para. 12(b)(i) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(f)

[^key-f3be20d49d59975b3abc7bed353f34c6]: Words in Sch. 1 para. 14 substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(g)

[^key-2c03ee2604d9db3904c215402410cc21]: Words in Sch. 1 para. 18(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(h)(i)

[^key-53b4d8656f89c8331a0a237ed013f329]: Words in Sch. 1 para. 18(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(h)(ii)

[^key-e9a46b00a5841c46d7789b6690bec695]: Words in Sch. 1 para. 18(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(h)(iii)

[^key-b040e41eba596acd5952a7e65372b8f6]: Words in Sch. 1 para. 26 substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(i)

[^key-157828ff2715c2c0d8de7b61d91633ce]: Words in Sch. 1 para. 33 substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(j)

[^key-8f678536883521c1dd10ed98821c5c23]: Words in Sch. 1 para. 34(b) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(k)

[^key-900cee546b31b279c1cf5f704d0bab1d]: Words in Sch. 1 para. 38(a)(i) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(l)(i)

[^key-b7a5c7932df96a879652426a24a87148]: Sch. 1 para. 38(b)(i)-(iv) substituted for Sch. 1 para. 38(b)(i)-(iii) (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(l)(ii)

[^key-cb225f48f61b228f952bce42ba2bb0ac]: Words in Sch. 1 para. 40(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(m)(i)

[^key-77a2d58294d2ed448322b1f118e6ffb7]: Words in Sch. 1 para. 40(b) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 5(m)(ii)

[^key-46f4fa86c57d388a584901c06c4d5a78]: Words in Sch. 2 para. 1(f) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 6(a)(i)

[^key-93d53397fe94898e7337a1734493e8a8]: Words in Sch. 2 para. 1(h) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 6(a)(ii)

[^key-d8430daaa8dd325f179a1025b7693d82]: Words in Sch. 2 para. 3 substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 6(b)

[^key-b5747a2a4295383a6878ade95b4b30d4]: Words in Sch. 2 para. 5 substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 6(c)

[^key-f77b1647b31c90bd8fd6fbb0b396284b]: Words in Sch. 2 para. 6 substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 6(d)

[^key-30ce97dec60287fb7c123aa39273c132]: Words in Sch. 4 para. 2(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 7(a)

[^key-ef0dde5b83b8901ed32b89b809bb0c57]: Words in Sch. 4 para. 9(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 7(b)(i)

[^key-116e6fbab2740ebd4d044720a95c388c]: Words in Sch. 4 para. 19(b) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 7(c)

[^M_F_807bc8a9-4acc-4c23-a772-2c1958d48b96]: Words in Sch. 4 para. 9(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 7(b)(ii)

[^key-875331f02b95460421edab5bea60f43f]: Words in Sch. 4 para. 41(a) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 7(d)

[^key-4751726b85f8d28e59a24d25f86603a4]: Words in Sch. 4 para. 51(b) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 7(e)(i)

[^key-74b19813dc0928a4a4ff7dc881f2dc0c]: Words in Sch. 4 para. 51(d) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 7(e)(ii)

[^key-47d2270bc4453f005eddf54463f3b1c3]: Words in Sch. 5 para. 3(2)(b) substituted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) Order 2014 (S.I. 2014/1822), arts. 1(2), 8(b)

[^key-bdf1dcb09b2a7f74639ee30b95e156a9]: Art. 2A inserted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 12(2)

[^key-9796c25ce2f5874a1be13750481b1475]: Sch. 3 para. 5 heading substituted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 12(3)(b)

[^key-0344ca62e18b1bf5397f665f1cf313ac]: Words in Sch. 3 para. 2(b) inserted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 12(3)(a)

[^key-a805fd2d75f0295775d373c7f31f91fd]: Sch. 1 para. 3A inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 15(3)(a)

[^key-e716e8c7894b23a770369b3aedb8ac55]: Sch. 1 para. 10A inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 15(3)(b)

[^key-e509a2fc27b3dc84287d695e036784e3]: Sch. 3 paras. 5C, 5D inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 15(4)(a)

[^key-cb7545aa102a10fc29828b8de6a8e5a5]: Sch. 3 para. 8 inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 15(4)(b)

[^key-1ea33bde4cfd743b760c4dd5a6565354]: Words in art. 1(2) inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 15(2)

[^key-762d0e46936a6e88e4b0008eaa8e0070]: Sch. 3 para. 3A inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 12 para. 8 (with ss. 2(2), 5(2), 14(4))

[^key-303dc390b8544f6a61c0478fe903f33c]: Words in art. 1(2) inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 54(a) (with ss. 2(2), 5(2))

[^key-842bcc1b00f53e3c073fcca4cfa668b6]: Art. 1(5) inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 54(b) (with ss. 2(2), 5(2))

[^key-fc405fc6620800b6d1b4e0b57fdc4a46]: Art. 5A inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 9

[^key-a59e12e5e7b9b75fae71748a1f15b595]: Sch. 1 paras. 6-8 omitted (18.7.2020) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 11(e)

[^key-fcc1fae8356fc59ec54e17bf8f394f28]: Sch. 1 Pt. 1A inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 11(c)

[^key-05d44b923f72f31dec52123e9871725e]: Sch. 2A inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 12

[^key-9537b85ceb838efc480ca221633c7238]: Words in art. 1(2) inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 6

[^key-a9272e954ab675166296a99c8804dd37]: Words in art. 2 heading inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 7(a)(i)

[^key-bab36ef94e0f55591c0bae597b9cf625]: Words in art. 2 heading substituted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 7(a)(ii)

[^key-d1c2b1ec5d88abb2f67d13d63572aca3]: Art. 2(A1) inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 7(b)

[^key-c73c883a391080560e1d8c8d229233b3]: Art. 2(4)(5) inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 7(c)

[^key-a365f0d3cbd7b53b7dcd89f2f1afd87f]: Words in art. 4 inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 8

[^key-12a4a906151bd37f497ccb151cd0f878]: Sch. 1 para. 1(1): Sch. 1 para. 1 renumbered as Sch. 1 para. 1(1) (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 11(a)

[^key-0bcda34f24e3e4cd2da9135fbe29b653]: Sch. 1 para. 1(2) inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 11(b)

[^key-432c87695be8a3176d5cfd2be4fec64b]: Words in Sch. 1 para. 3A omitted (18.7.2020) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 11(d)

[^key-2d311a5128969a6a06c2f115620b0595]: Words in Sch. 4 para. 1 substituted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 13(b)

[^key-3482660628a4a5aaaf33180bab7228a1]: Words in Sch. 4 para. 4(a) inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 13(c)(i)

[^key-ca8de41f0f0053b8b37ffa6981cfc2f4]: Words in Sch. 4 para. 4(a) substituted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 13(c)(ii)

[^key-9343121b875f31d9a4237272c3407afc]: Word in Sch. 4 para. 5(a) inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 13(d)

[^key-e4c03c9a5b29f49b99c5e97c6d7018bf]: Sch. 4 para. 8 omitted (18.7.2020) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 13(e)

[^key-32f564d327330764cf901027fbbb68ff]: Sch. 4 para. 38 omitted (18.7.2020) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 13(f)

[^key-278dfb19b4b4a3a566afef9fffd9b1f0]: Sch. 1 para. 1J omitted (10.9.2020) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) (No. 2) Order 2020 (S.I. 2020/963), arts. 1, 2(2)

[^key-f88d8b579a717f53511e86072e33c263]: Sch. 2A para. 6 omitted (10.9.2020) by virtue of The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) (No. 2) Order 2020 (S.I. 2020/963), arts. 1, 2(3)

[^M_F_02a238e0-b81c-41f8-c9ec-7cc255df51dd]: Sch. 3 paras. 5A, 5B inserted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 12(3)(c)

[^key-e8368c4f8496342eeb72bfeafb1b7b36]: Art. 2(2A) inserted (30.9.2021) by The Co-operative and Community Benefit Societies (Administration) (Amendment) Order 2021 (S.I. 2021/1048), arts. 1(1), 2(2)(a)

[^key-3499767dabeeb82fb100f4f692074843]: Art. 2(5) omitted (30.9.2021) by virtue of The Co-operative and Community Benefit Societies (Administration) (Amendment) Order 2021 (S.I. 2021/1048), arts. 1(1), 2(2)(b)

[^key-d9a19ec931cdfccf30f4aceaccccdd6d]: Art. 11(6) omitted (30.9.2021) by virtue of The Co-operative and Community Benefit Societies (Administration) (Amendment) Order 2021 (S.I. 2021/1048), arts. 1(1), 2(3)

[^key-82a70bbf25a15c5e25e951ccfa07be6b]: Words in Sch. 4 para. 1 omitted (30.9.2021) by virtue of The Co-operative and Community Benefit Societies (Administration) (Amendment) Order 2021 (S.I. 2021/1048), arts. 1(1), 2(5)(a)

[^key-233ca8fd73c7b3ae0f77e1037fbde6a8]: Sch. 4 Pt. 4 omitted (30.9.2021) by virtue of The Co-operative and Community Benefit Societies (Administration) (Amendment) Order 2021 (S.I. 2021/1048), arts. 1(1), 2(5)(b)

[^key-64084dd666cf3ef166f383b0dae67bb6]: Sch. 1A inserted (30.9.2021) by The Co-operative and Community Benefit Societies (Administration) (Amendment) Order 2021 (S.I. 2021/1048), arts. 1(1), 2(4)

Modified application of section 111 of the 2014 Act

Modified application of section 113 of the 2014 Act

Modified application of section 126 of the 2014 Act

Modified application of the Insurers (Reorganisation and Winding Up) Regulations 2004

1A

The Insurers (Reorganisation and Winding Up) Regulations 2004 have effect in relation to a relevant society as if in regulation 2(3) (interpretation of references to the law of insolvency) the reference to the Co-operative and Community Benefit Societies Act 2014 included a reference to an order made under section 118 of that Act.

Modified application of the Pension Protection Fund (Entry Rules) Regulations 2005

Modified application of the Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2010

Application of section 176ZB of the 1986 Act

2A

Section 176ZB of the 1986 Act (application of proceeds of office-holder claims) applies in relation to a relevant society which is in administration, and for that purpose—

• (a) a reference to a company includes a reference to a relevant society;

• (b) a reference to a section of the 1986 Act is a reference to that section as applied in relation to a relevant society; and

• (c) the reference to Part 26 of the 2006 Act is a reference to that Part as applied in relation to a relevant society.

Application of section 176A of the 1986 Act

Application of other provisions of the 1986 Act

Application of section 215 of FSMA

Application of section 356 of FSMA

Application of section 359 of FSMA

Application of section 361 of FSMA

Application of sections 362 and 362A of FSMA

Application of provisions of FSMA: general provision

Application of insolvency rules

Application of other subordinate legislation

Modified application of section 111 of the 2014 Act

Modified application of section 113 of the 2014 Act

Modified application of section 126 of the 2014 Act

Modified application of section 59 of the 1965 Act

Amendment of the 1965 Act

Insolvency practitioners: qualification and regulation

5A

Section 390 (persons not qualified to act as insolvency practitioners) has effect as if for subsection (2) there were substituted—

(2) A person is not qualified to act as an insolvency practitioner in relation to a relevant society (within the meaning given in article 1(2) of the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014) at any time unless at that time the person is fully authorised to act as an insolvency practitioner or partially authorised to act as an insolvency practitioner only in relation to companies.

5B

• (1) In the following provisions, in a reference to authorisation or permission to act as an insolvency practitioner in relation to (or only in relation to) companies the reference to companies has effect without the modification in paragraph 1(c) of Schedule 1—

• (a) sections 390A and 390B(1) and (3) (authorisation of insolvency practitioners); and

• (b) sections 391O(1)(b) and 391R(3)(b) (court sanction of insolvency practitioners in public interest cases).

• (2) In sections 391Q(2)(b) (direct sanctions order: conditions) and 391S(3)(e) (power for Secretary of State to obtain information) the reference to a company has effect without the modification in paragraph 1(c) of Schedule 1.

Punishment of offences

3A

Sections 2 to 6 and 7 of ... the 1986 Act have effect without the amendments of those provisions made by paragraphs 2 to 9 of Schedule 9 to the 2015 Act (further amendments relating to the abolition of requirements to hold meetings: company voluntary arrangements).

Creditors’ meetings and creditors’ notices

10A

Schedule B1 to the 1986 Act has effect without the amendments made by paragraph 10 of Schedule 9 to the 2015 Act (further amendments relating to the abolition of requirements to hold meetings; opted-out creditors: administration).

Nature of administration

Appointment of administrator by court

Appointment of administrator by holder of floating charge

Effect of administration

Process of administration

Functions of administrator

Ending administration

Replacing administrator

General

Creditors’ meetings

5C

Part 6 of the 1986 Act and sections 387, 433 and 434B have effect without the amendments of those provisions made by —

• (a) section 122 of the 2015 Act (abolition of requirements to hold meetings: company insolvency); and

• (b) paragraphs 54 to 57 of Schedule 9 to that Act (further amendments relating to section 122).

Creditors’ notices

5D

Parts 6 and 7 of the 1986 Act have effect without the amendments of those Parts made by section 124 of the 2015 Act (ability for creditors to opt not to receive certain notices: company insolvency).

Punishment of offences

8

Schedule 10 to the 1986 Act also has effect without the amendments made by paragraph 11 of Schedule 9 to the 2015 Act.

3A

Section 233B (protection of supplies of goods and services) does not apply in relation to a registered society that is registered as a credit union.

Application to relevant societies and relevant CCBS of law about company arrangements, administration and moratoriums

Application of sections 355A and 355B of FSMA

5A

• (1) Sections 355A (powers of FCA and PRA to participate in proceedings) and 355B (enforcement of requirements imposed by section 355A) of FSMA apply in relation to a relevant society which meets the criteria in section 355A(1).

• (2) For that purpose, in sections 355A and 355B a reference to a company is a reference to a relevant society of a kind specified in paragraph (1).

Application of section 356 of FSMA

Application of section 359 of FSMA

Application of section 361 of FSMA

Application of sections 362 and 362A of FSMA

Application of provisions of FSMA: general provision

Application of insolvency rules

Application of other subordinate legislation

Modified application of section 111 of the 2014 Act

Modified application of section 113 of the 2014 Act

Modified application of section 126 of the 2014 Act

Modified application of section 59 of the 1965 Act

Amendment of the 1965 Act

PART1A — Modified application of Part A1 of the Insolvency Act 1986 to Co-operative and Community Benefit Societies (further modifications)

1A

Part A1 of the 1986 Act (moratorium) applies in relation to a relevant CCBS with the further modifications set out in this Part and with any other necessary modification.

1B

Section A5 (obtaining a moratorium for other overseas companies) is omitted.

1C

Section A20 (restrictions on insolvency proceedings etc) has effect as if after subsection (3) there were inserted—

(4) In subsection (1)(h) “administrative receiver” in relation to a relevant CCBS means— (a) a receiver or manager of the whole “or substantially the whole” of the society’s property appointed by or on behalf of the holder of a floating charge, or (b) a person who would be such a receiver or manager but for the appointment of some other person as the receiver of part of the society’s property.

1D

Section A28 (restrictions on payment of certain pre-moratorium debts) has effect as if after subsection (1) there were inserted—

(1A) During a moratorium, withdrawal of shares from the relevant CCBS is prohibited.

1E

Section A35 (monitoring) has effect as if after subsection (2) there were inserted—

(3) In carrying out its functions under this chapter the monitor must have regard to the rules of the relevant CCBS and the obligations of the relevant CCBS under the Co-operative and Community Benefit Societies Act 2014.

1F

Section A48 of the 1986 Act (prosecution of delinquent officers of company) has effect as if—

• (a) in subsection (3), in the definition of “the appropriate authority”—

• (i) at the end of paragraph (a) there were added “or the Financial Conduct Authority (“the FCA”)”;

• (ii) at the end of each of paragraph (b) and paragraph (c)(i), (ii) and (iv) there were added “or the FCA”; and

• (iii) in paragraph (c)(iii), after “Lord Advocate” there were inserted “or the FCA”;

• (b) for subsection (4) there were substituted—

(4) Subsection (4A) applies where a report is made to the Secretary of State or the FCA under subsection (2) in relation to a relevant CCBS whose registered office is situated in England and Wales. (4A) The Secretary of State or the FCA may, for the purpose of investigating the matter reported and such other matters relating to the CCBS affairs as appear to require investigation, exercise the power to appoint inspectors which would be exercisable by the FCA under section 106 of the Co-operative and Community Benefit Societies Act 2014 upon an application made for that purpose under subsection (1) of that section.

• (c) subsections (5) to (8) were omitted; and

• (d) in subsection (10), for the definition of “prosecuting authority” there were substituted—

• “prosecuting authority” means—in the case of a relevant CCBS whose registered office is situated in England and Wales, the Director of Public Prosecutions, the Secretary of State or the FCA; andin the case of a relevant society whose registered office is situated in Scotland, the Lord Advocate.

1G

Chapter 8 of Part A1 of the 1986 Act (miscellaneous and general) has effect as if before section A49 there were inserted—

(A48A) This Part has effect as if it required any proposal under it to be framed so as to enable a relevant CCBS to comply with the rules of the society and the provisions of the 2014 Act.

1H

Section A50 (power to modify this Part etc in relation to certain companies) is omitted.

1I

Section A54 has effect as if—

• (a) in subsection (1), after the definition of “qualified person” there were inserted—

• “CCBS” means a co-operative society or community benefit society that is registered under the 2014 Act but not a society that is—a private registered provider of social housing;registered as a social landlord under Part 1 of the Housing Act 1996 or Part 2 of the Housing (Scotland) Act 2010; ora credit union within the meaning of section 31(1) of the Credit Unions Act 1979

• (b) after subsection (3) there were inserted—

(3A) In this Part a reference to a floating charge, in relation to a relevant society— (a) whose registered office is situated in England or Wales, is a reference to a floating charge which is either— (i) a charge in respect of which an application has been made for the purposes of section 59 of the Co-operative and Community Benefit Societies Act 2014; or (ii) created by a debenture registered under section 9 of the Agricultural Credits Act 1928 as applied by section 14 of that Act; (b) whose registered office is situated in Scotland, is a reference to a floating charge which is either— (i) a charge created by an instrument a copy of which has been delivered to the Financial Conduct Authority in pursuance of section 63 of the Co-operative Benefit Societies Act 2014; or (ii) created and registered under Part 2 of the Agricultural Credits (Scotland) Act 1929.

1J

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1K

Schedule ZA1 has effect as if—

• (a) in paragraph 15—

• (i) in subparagraph (2)(e) for “holding company” there were substituted “parent society”; and

• (ii) after subparagraph (4) there were inserted—

(5) For the purposes of this paragraph a “parent society” is a society in relation to which another society is treated as a subsidiary society within the meaning of section 101 of the Co-operative and Community Benefit Societies Act 2014.

• (b) paragraph 18 were omitted.

Schedule 2A — Modified application of Part 26A of the Companies Act 2006 to relevant societies

1

Unless the context otherwise requires and subject to any further modification in this Schedule, in Part 26A of the 2006 Act—

• (a) a reference to the articles of a company is a reference to the rules of a relevant society;

• (b) a reference to a class of members is to be ignored;

• (c) a reference to a company includes a reference to a relevant society;

• (d) a reference to a company’s creditors does not include a reference to a member of a relevant society to whom an amount is owed by the society if, but only in so far as, the amount concerned is owed in respect of the member’s shares;

• (e) a reference to the directors of a company is a reference to the members of the committee of a relevant society;

• (f) a reference to a member of a company is a reference to a person whose name is entered a member in the register kept by a relevant society in accordance with section 30(1) of the 2014 Act;

• (g) a reference to an officer of a company is a reference to an officer of a relevant society; and

• (h) a reference to the registrar is a reference to the FCA in its capacity as the authority responsible for the registration of a relevant society under the 2014 Act.

2

Part 26A of the 2006 Act applies in relation to a relevant society with the further modifications set out in the following paragraphs of this Schedule and with any other necessary modification.

3

Section 901A (application of this part) subsection (4) has effect as if after the definition of “company” there were inserted—

• “relevant society” means a registered society (within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014) which is not—a private registered provider of social housing; orregistered as a social landlord under Part 1 of the Housing Act 1996 or under Part 2 of the Housing (Scotland) Act 2010.

4

Section 901B is omitted.

5

Section 901F (court sanction for compromise or arrangement) has effect as if—

• (a) in subsection (1) the reference to a number representing 75% in value of the members present and voting at the meeting summoned under section 901C were a reference to 75% of the members of a relevant society present and voting at that meeting; and

• (b) in subsection (5)(b) the reference to contributories had the same meaning as it has in relation to a relevant society in the 1986 Act.

6

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7

Section 901J (powers of court to facilitate reconstruction or amalgamation) has effect as if after subsection (4) there were inserted—

(4A) Subsection (4B) applies where a compromise or arrangement is proposed for the purposes of, or in connection with, a scheme for the reconstructions of a relevant society or the amalgamation of a relevant society with any other relevant society or any company. (4B) An order under this section may only be made with respect to the compromise or arrangement if the Financial Conduct Authority— (a) is satisfied that the compromise or arrangement is not contrary to the rules of the society or the provisions of the 2014 Act or the Credit Unions Act 1979; and (b) has issued a statement to that effect.

8

In section 901K (obligations of company with respect to articles etc) has effect as if after subsection (1) there were inserted—

(1A) Where, in the case of a relevant society, the compromise or arrangement includes provision for amending the society’s rules, the order may be made only if the Financial Conduct Authority has issued a statement to the effect that it would register an amendment in the terms proposed if copies were given to it for registration in accordance with section 16 of the Co-operative and Community Benefit Societies Act 2014. (1B) Subsection (1A) does not apply if the intended effect of the compromise or arrangement is that the society will cease to be registered under that Act.

9

Section 901L is omitted.

10

Where a copy of any order or other document is delivered to the FCA under section 901F(6), 901J(6) or 901K(2) (in each case as applied in relation to a relevant society by article 2(4)), that provision also has effect as if it required the document to be delivered—

• (a) in the case of a relevant society which is or has been an authorised person but not a PRA-authorised person, also to the FCA in its capacity as the society’s regulator;

• (b) in the case of a relevant society which is or has been a PRA-authorised person, also to the Prudential Regulation Authority;

• (c) in the case of a relevant society which is a relevant person, also to the scheme manager.

11

In paragraph (10)—

• (a) “PRA-authorised person” has the meaning given in section 2B(5) of FSMA;

• (b) “regulator” has the meaning given in section 3A of FSMA; and

• (c) “the scheme manager” means the body corporate established by the Financial Services Authority under section 212 of FSMA (the manager of the Financial Services Compensation Scheme) as originally enacted.

PART 4 — Modified application of Part 3 of Schedule 4 to the Corporate Insolvency and Governance Act 2020

59

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

60

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

61

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

62

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SCHEDULE1A — Supplementary provision on moratoriums

PART1 — General provision

Interpretation

1

• (1) In this Schedule, and in the provisions applied by this Schedule (“the applied provisions”)—

• (a) a reference to Part A1 or any provision of Part A1, 4 or 6 of the 1986 Act is a reference to that Part or provision as applied in relation to a relevant CCBS,

• (b) an expression defined in the 1986 Act which is not modified by this Schedule, has the meaning given in the 1986 Act,

• (c) a reference to an administrative receiver is a reference to an administrative receiver within the meaning given in Part A1 of the 1986 Act in relation to a relevant CCBS whose registered office is in England or Wales,

• (d) a reference to the articles of a company is a reference to the rules of a relevant CCBS,

• (e) a reference to a class of creditors includes a reference to a single class of members of a relevant CCBS that consists of the member depositors of the CCBS, but only insofar as the member depositors are owed amounts in respect of deposits,

• (f) a reference to a company includes a reference to a relevant CCBS,

• (g) a reference to a relevant CCBS’s creditors, or to a company’s creditors, other than in reference to a class of creditors, does not include a reference to a member of a relevant CCBS to whom an amount is owed by the CCBS if, but only in so far as, the amount concerned is owed in respect of the member’s shares,

• (h) a reference to the directors of a company is a reference to the members of the committee of a relevant CCBS,

• (i) a reference to a floating charge is a reference to a floating charge within the meaning given in Part A1 in relation to a relevant CCBS whose registered office is in England or Wales or Scotland,

• (j) a reference to a meeting of a relevant CCBS or of a company, or of the members of a relevant CCBS or of a company, is a reference to a general meeting of a relevant CCBS and, in relation to a CCBS whose rules allow the members to appoint delegates for meetings of the CCBS or its members, includes a reference to a general meeting for which delegates have been appointed,

• (k) a reference to an officer of a company is a reference to an officer of a relevant CCBS, and

• (l) a reference to the registrar of companies is a reference to the FCA.

• (2) An expression used in this Schedule, which is not modified by this Schedule, is to be construed as if this Schedule were contained in Part A1 of the 1986 Act.

• (3) Section A54(1) of the 1986 Act has effect as if for the definition of “the court” there were substituted—

• “the court” in relation to a relevant CCBS, means a court having jurisdiction to wind up the relevant CCBS;

• (4) The applied provisions have effect as if they provided that a person appointed for the purpose by the FCA is entitled—

• (a) to attend any meeting of creditors of a relevant CCBS summoned for the purposes of Part A1 of the 1986 Act, as applied in relation to a relevant CCBS, and

• (b) to make representations as to any matter for decision at such a meeting.