Regulation 2 InterpretationI1

In these Regulations—

• F1“the 1965 Act” means the Industrial and Provident Societies Act 1965;

• “the 1969 Northern Ireland Act” means the Industrial and Provident Societies Act (Northern Ireland) 1969;

• F2...

• ...

• “the 2004 Act” means the Companies (Audit, Investigations and Community Enterprise) Act 2004;

• F3“the 2006 Act” means the Companies Act 2006;

• “aggregate dividend cap” means a cap set under regulation 22 for the purposes of determining maximum aggregate dividends;

• “appellant” means, in respect of an appeal to the Appeal Officer, the person bringing the appeal;

• F4...

• “applicable interest cap” has the meaning given in regulation 21(3);

• “asset-locked body” means—

  1. (a)

     a community interest company, F5a charity or a F6permitted society; or

  2. (b)

     a body established outside F7the United Kingdom that is equivalent to either of those;

• F8“authenticated” means that the person required to authenticate the document in question has signed, or printed their name on, that document;

• “the Authority” means the F9Financial Conduct Authority;

• “community interest statement” means a statement in a form approved by the Regulator which—

  1. (a)

     contains a declaration that the company will carry on its activities for the benefit of the community or a section of the community; and

  2. (b)

     indicates how it is proposed that the company’s activities will benefit the community (or a section of the community);

• “distributable profits” means, in relation to a company, its accumulated, realised profits, so far as not previously utilised by distribution or capitalisation, less its accumulated, realised losses, so far as not previously written off in a reduction or reorganisation of capital duly made, F10...;

• “election” means any election to public office held in F11the United Kingdom or elsewhere;

• “employee” means a person who has entered into or works under (or, where the employment has ceased, worked under)—

  1. (a)

     a contract of service or apprenticeship; or

  2. (b)

     a contract for services under which it is agreed that a specified individual is to perform services,

  whether express or implied, and (if it is express) whether oral or in writing;

• “employer” means the person by whom an employee is (or, where the employment has ceased, was) employed;

• “exempt dividend” has the meaning given in regulation 17(3);

• F12“governmental authority” includes—

  1. (a)

     any national, regional or local government in the United Kingdom or elsewhere;

  2. (b)

     the European Community;

  3. (c)

     any inter-governmental organisation; and

  4. (d)

     any organisation which is able to make rules or adopt decisions which are legally binding on any governmental authority falling within sub‑paragraph (a), (b) or (c);

  or any of their organs, institutions or agencies;.

• “interest cap” means a cap set under regulation 22 for the purpose of determining the maximum rate of interest payable under regulation 21;

• “manager” means a person appointed by order under section 47(1) of the 2004 Act;

• “maximum aggregate dividend” has the meaning given to it in regulation 19;

• F13...

• “paid up value” means, in respect of any share in a company, the sum of—

  1. (a)

     so much of the share’s nominal value as has been paid up; and

  2. (b)

     any premium on that share paid to the company;

• “performance-related rate” means any rate which is linked to the company’s profits or turnover or to any item in the balance sheet of the company;

• F14“permitted society” means a registered society which has a restriction on the use of its assets in accordance with regulation 4 of the Community Benefit Societies (Restriction on Use of Assets) Regulations 2006 or regulation 4 of the Community Benefit Societies (Restriction on Use of Assets) Regulations (Northern Ireland) 2006;

• “political party” includes any person standing, or proposing to stand, as a candidate at any election, and any person holding public office following his election to that office;

• “political campaigning organisation” means any person carrying on, or proposing to carry on activities—

  1. (a)

     to promote, or oppose, changes in any law applicable in F15the United Kingdom or elsewhere, or any policy of a governmental or public authority (unless such activities are incidental to other activities carried on by that person); or

  2. (b)

     which could reasonably be regarded as intended to affect public support for a political party, or to influence voters in relation to any election or referendum (unless such activities are incidental to other activities carried on by that person);

• F16“public authority” includes—

  1. (a)

     a court or tribunal; and

  2. (b)

     any person certain of whose functions are functions of a public nature,

  whether in the United Kingdom or elsewhere;

• F17“quoted company” has the meaning given by section 385 of the 2006 Act;

• “referendum” includes any national or regional referendum or other poll held in pursuance of any provision made by or under the law of any state on one or more questions or propositions specified in or in accordance with any such provision;

• F18“registered society” means—

  1. (a)

     a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014; or

  2. (b)

     a society registered or deemed to be registered under the Industrial and Provident Societies Act (Northern Ireland) 1969;

• “relevant company” means a community interest company which is a company limited by shares or a company limited by guarantee with a share capital;

• F19...

• “subsidiary” has the meaning F20given to it by section 1159 of the 2006 Act; F21...

• F22...