Section 112 Conversion of society into a company, amalgamation with a company etcC1

(1)

A registered society may by special resolution determine to—

(a)

convert itself into a company,

(b)

amalgamate with a company, or

(c)

transfer its engagements to a company.

In this section “company” means a company under the Companies Acts.

(2)

A registered society's registration under this Act becomes void and (subject to section 126) must be cancelled by the FCA if the society—

(a)

is registered as a company,

(b)

amalgamates with a company, or

(c)

transfers all its engagements to a company.

(3)

Section 113 contains provisions about special resolutions under this section.

(4)

Section 114 contains further provisions about the conversion of a society into a company.

(5)

An amalgamation or transfer of engagements does not prejudice any right of a creditor of the society.

Annotations

C1: Ss. 112-114 excluded by 1979 c. 34, s. 22 (as amended (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 12 (with Sch. 5))