Co-operative and Community Benefit Societies Act 2014
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Change 1
As published
123 Dissolution of society on winding up
(1) A registered society may be dissolved on its being wound up in pursuance of an order or resolution made as is directed in the case of companies.
(2) The provisions relating to the winding up of companies have effect in relation to a registered society as if the society were a company, subject to the following modifications—
(a) a reference to the registrar of companies is to be read as the FCA;
(b) a reference to a company registered in Scotland is to be read as a registered society whose registered office is in Scotland;
(c) if the society is wound up in Scotland, the court having jurisdiction is the sheriff court whose jurisdiction contains the society's registered office.
(3) Where a resolution for the voluntary winding up of a registered society is passed—
(a) the society must send a copy of it to the FCA (and, if the society is a PRA-authorised person, the PRA) within 15 days after it is passed, and
(b) a copy of it must be annexed to every copy of the society's registered rules issued after it is passed.
(4) In this section “company” means a company registered under the Companies Acts.
(5) This section is subject to section 126 (dissolution to occur only after society's property has been dealt with).
Your change, as a redline
123 Dissolution of society on winding up
(1) A registered society may be dissolved on its being wound up in pursuance of an order or resolution made as is directed in the case of companies.
(2) The provisions relating to the winding up of companies have effect in relation to a registered society as if the society were a company, subject to the following modifications—
(a) a reference to the registrar of companies is to be read as the FCA;
(b) a reference to a company registered in Scotland is to be read as a registered society whose registered office is in Scotland;
(c) if the society is wound up in Scotland, the court having jurisdiction is the sheriff court whose jurisdiction contains the society's registered office.
(3) Where a resolution for the voluntary winding up of a registered society is passed—
(a) the society must send a copy of it to the FCA (and, if the society is a PRA-authorised person, the PRA) within 15 days after it is passed, and
(b) a copy of it must be annexed to every copy of the society's registered rules issued after it is passed.
(4) In this section “company” means a company registered under the Companies Acts.
(5) This section is subject to section 126 (dissolution to occur only after society's property has been dealt with).
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