Co-operative and Community Benefit Societies Act 2014
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Change 1
As published
6 Cancellation of registration: procedure and effect
(1) The FCA must give a registered society at least 2 months' notice in writing of the proposed cancellation of its registration, specifying briefly the ground of the proposed cancellation.
(2) Subsection (1) does not apply to any cancellation—
(a) made by virtue of condition A in section 5 (cancellation at society's request),
(b) made by virtue of section 112(2) (cancellation following conversion into a company etc), or
(c) made after a relevant certificate within the meaning of section 126 (certificate that society's property has been transferred to persons entitled to it) has been lodged with the FCA.
(3) If the society appeals under section 9 before the end of the period of notice, its registration may not be cancelled before the date the appeal is determined or abandoned.
For the FCA's power to suspend the society's registration in these circumstances, see section 8(3).
(4) For the right of the society to make representations and to be heard by the FCA in a case where condition D in section 5 is relied on, see section 7.
(5) The FCA must consult the PRA before cancelling the registration of a registered society that is a PRA-authorised person.
(6) The FCA must ensure that, as soon as practicable after a society's registration is cancelled, notice of the cancellation is published in—
(a) the Gazette, and
(b) a local newspaper circulating in or about the locality in which the society's registered office is situated.
(7) As from the date of publication of the notice in the Gazette, the society ceases to be entitled to any of the privileges of this Act as a registered society.
This does not affect any liability incurred by the society (which may be enforced against it as if the cancellation had not occurred).
Your change, as a redline
6 Cancellation of registration: procedure and effect
(1) The FCA must give a registered society at least 2 months' notice in writing of the proposed cancellation of its registration, specifying briefly the ground of the proposed cancellation.
(2) Subsection (1) does not apply to any cancellation—
(a) made by virtue of condition A in section 5 (cancellation at society's request),
(b) made by virtue of section 112(2) (cancellation following conversion into a company etc), or
(c) made after a relevant certificate within the meaning of section 126 (certificate that society's property has been transferred to persons entitled to it) has been lodged with the FCA.
(3) If the society appeals under section 9 before the end of the period of notice, its registration may not be cancelled before the date the appeal is determined or abandoned.
For the FCA's power to suspend the society's registration in these circumstances, see section 8(3).
(4) For the right of the society to make representations and to be heard by the FCA in a case where condition D in section 5 is relied on, see section 7.
(5) The FCA must consult the PRA before cancelling the registration of a registered society that is a PRA-authorised person.
(6) The FCA must ensure that, as soon as practicable after a society's registration is cancelled, notice of the cancellation is published in—
(a) the Gazette, and
(b) a local newspaper circulating in or about the locality in which the society's registered office is situated.
(7) As from the date of publication of the notice in the Gazette, the society ceases to be entitled to any of the privileges of this Act as a registered society.
This does not affect any liability incurred by the society (which may be enforced against it as if the cancellation had not occurred).
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