Co-operative and Community Benefit Societies Act 2014
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
As published
83 Duty to appoint auditors
(1) In each year of account, a registered society must (subject to subsection (2)) appoint one or more qualified auditors to audit its accounts and balance sheet for that year.
(2) If the society is a small society for the year of account, it must—
(a) make an appointment under subsection (1) for that year, or
(b) appoint two or more persons who are not qualified auditors to audit its accounts and balance sheet for that year.
(3) The FCA may give a direction to a society that is a small society for the current year of account, requiring it to make an appointment under subsection (1) for that year.
(4) For the purposes of this Part a registered society is a “small society” for a year of account if—
(a) the total amount of its receipts and payments in respect of the preceding year of account did not exceed £5,000,
(b) it had no more than 500 members at the end of that year, and
(c) the total value of its assets at the end of that year did not exceed £5,000.
(5) The Treasury may by regulations—
(a) substitute for any sum or number for the time being specified in subsection (4) such other sum or number as the Treasury consider appropriate;
(b) prescribe what receipts and payments of a society are to be taken into account for the purposes of that subsection.
The regulations may make different provision for different cases or circumstances.
(6) This section is subject to section 84 (power of certain societies to disapply this section).
Your change, as a redline
83 Duty to appoint auditors
(1) In each year of account, a registered society must (subject to subsection (2)) appoint one or more qualified auditors to audit its accounts and balance sheet for that year.
(2) If the society is a small society for the year of account, it must—
(a) make an appointment under subsection (1) for that year, or
(b) appoint two or more persons who are not qualified auditors to audit its accounts and balance sheet for that year.
(3) The FCA may give a direction to a society that is a small society for the current year of account, requiring it to make an appointment under subsection (1) for that year.
(4) For the purposes of this Part a registered society is a “small society” for a year of account if—
(a) the total amount of its receipts and payments in respect of the preceding year of account did not exceed £5,000,
(b) it had no more than 500 members at the end of that year, and
(c) the total value of its assets at the end of that year did not exceed £5,000.
(5) The Treasury may by regulations—
(a) substitute for any sum or number for the time being specified in subsection (4) such other sum or number as the Treasury consider appropriate;
(b) prescribe what receipts and payments of a society are to be taken into account for the purposes of that subsection.
The regulations may make different provision for different cases or circumstances.
(6) This section is subject to section 84 (power of certain societies to disapply this section).
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.