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Paragraph 16 Community Interest Company Regulations 2005

Original text. Later amendments are not shown.

(1)

The Community Interest Company Regulations 2005f1 are amended as follows.

(2)

In regulation 2 (interpretation)—

(a)

for the definition of “permitted industrial and provident society” substitute—

  • ““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 2006f2 or regulation 4 of the Community Benefit Societies (Restriction on Use of Assets) Regulations (Northern Ireland) 2006f3;”; and

(b)

after the definition of “referendum” insert—

  • ““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;”.

(3)

In paragraph 1(4) of Schedules 1, 2 and 3 (provisions prescribed for the articles of a community interest company) for sub-paragraph (ba) substitute—

“(ba)

“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;

(bb)

“registered society” means—

(i)

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

(ii)

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

(4)

In each of the following provisions for “permitted industrial and provident society” substitute “permitted society”—

(a)

regulation 2, in the definition of “asset-locked body”;

(b)

regulation 6A; and

(c)

paragraph 1(4)(a) of Schedules 1, 2 and 3 (in the definition of “asset-locked body”).

(5)

In the heading to Part 2A and regulation 6A for “an industrial and provident society” substitute “a registered society”.

Annotations

Footnotes

f1

S.I. 2005/1788 amended by S.I. 2009/1942. There are other amending instruments but none is relevant.

f2

S.I. 2006/264.

f3

S.R. 2006/258.