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Co-operative and Community Benefit Societies Act 2014 (2016 Chapter 14).

Country/Territory
United Kingdom
Document type
Legislation
Date
2014
Source
FAO, FAOLEX
Long title
An Act to consolidate certain enactments relating to co-operative societies, community benefit societies and other societies registered or treated as registered under the Industrial and Provident Societies Act 1965, with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission.
Subject
Agricultural & rural development, Land & soil
Keyword
Agricultural development Cooperative/producer organization Credit Business/industry/corporations Registration Community management Land tenure
Geographical area
Atlantic Ocean Islands, Europe, Europe and Central Asia, North Atlantic, North Sea, North-East Atlantic, Northern Europe
Abstract

This Act, which extends to England and Wales and Scotland, consolidates legislation on co-operative and community benefit societies (formerly known as industrial and provident societies). The Act concerns registration etc. of societies and administration and operation of registered societies. A large part of the Act is dedicated to financial arrangement affecting registered societies. A society for carrying on any industry, business or trade (including dealings of any kind with land) which meets specified conditions may be registered under this Act as— (a) a co-operative society, or (b) a community benefit society. Agricultural, horticultural or forestry society may provide for loans without security. The fact that the society’s rules provide for the making of such advances without security is not a ground for refusing to register those rules. A registered society may— (a) (unless its registered rules provide otherwise) hold, purchase or take a lease of any land in its own name; (b) sell, exchange, mortgage or lease any such land; (c) construct, alter or demolish buildings on it.

Full text
English
Website
www.opsi.gov.uk

References - Legislation

Amends

Land Registration etc. (Scotland) Act 2012 (2012 asp 5).

Legislation | United Kingdom | 2012

Keyword: Cadastre/land registration, Court/tribunal, Institution, Transfer, Legal proceedings/administrative proceedings

Source: FAO, FAOLEX