Article 1 Citation, commencement and interpretation

This Order may be cited as the F1Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014, and comes into force on 6th April 2014.

In this Order—

• F2...

• ...

• “the 1986 Act” means the Insolvency Act 1986 M1 F3(see also paragraph (5));

• “the 2006 Act” means the Companies Act 2006 M2;

• F4“the 2014 Act” means the Co-operative and Community Benefit Societies Act 2014;

• F5“the 2015 Act” means the Small Business, Enterprise and Employment Act 2015;

• “authorised person” has the meaning given in section 31(2) of FSMA;

• “authorised deposit taker” has the meaning given in section 359(4) of FSMA M3;

• F6...

• “deposit” has the meaning given by article 5 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 M4;

• ...

• “FSMA” means the Financial Services and Markets Act 2000 M5;

• “member”, in relation to a relevant society, means a person whose name is entered as a member in the register kept by the society in accordance with F7section 30(1) of the 2014 Act;

• ...

• F8“relevant CCBS” means a co-operative society or community benefit society, that is registered under the 2014 Act but not a society that is—

  1. (a)

     registered as a social landlord under Part 1 of the Housing Act 1996 or Part 2 of the Housing (Scotland) Act 2010; or

  2. (b)

     a credit union within the meaning of section 31(1) of the Credit Unions Act 1979;

• “relevant person” has the meaning given in section 213(9)(a) of FSMA M6; and

• “relevant society” means a F9registered society which is not—

  1. (a)

     a private registered provider of social housing; or

  2. (b)

     registered as a social landlord under Part 1 of the Housing Act 1996 M7 or under Part 2 of the Housing (Scotland) Act 2010 M8.

The definition of “authorised deposit taker” is to be construed in accordance with—

For the purposes of this Order a relevant society is “in administration” while the appointment of an administrator of the society under Schedule B1 to the 1986 Act M11 has effect.

In this Order a reference to the 1986 Act is to the 1986 Act without the amendments made by section 1 of, and Schedules 1 to 3 to, the Corporate Insolvency and Governance Act 2020.