# The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014, Paragraph 26: Mutual Societies (Transfers of Business) (Tax) Regulations 2009


(1) The Mutual Societies (Transfers of Business) (Tax) Regulations 2009 are amended as follows.
(2) In regulation 2 (interpretation) after the definition of “loan relationship” insert—
““registered society” means a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014, other than a society registered as a credit union;”.
(3) In the following regulations for “an industrial and provident society” substitute “a registered society”—
(a) regulation 2(1) (interpretation), in the definition of “subsidiary of a mutual society”;
(b) in regulation 3(2) (meaning of relevant transfer) in each place where these words appear;
(c) regulation 19(1)(a) (transfer of loan relationship);
(d) regulation 22(1)(a) (replacement of industrial and provident society as party to a derivative contract);
(e) regulation 30(1)(a) (intangible fixed assets transferred as if at no gain or no loss); and
(f) regulation 32 (exemption from stamp duty).
(4) In the following provisions for “industrial and provident society” substitute “registered society”—
(a) regulation 3(2), in sub-paragraph (a) and, in the second place where these words appear, in sub-paragraph (b); and
(b) regulation 22, in the heading.
(5) In regulation 3(2)(a) and (c) for “industrial and provident societies”, except where these words appear in a reference to an enactment, substitute “registered societies”.

---
Source: https://www.legislation.gov.uk/ukdsi/2014/9780111114865/schedule/paragraph/26 (the official version)
Page: https://openlegislation.uk/draft-co-operative-and-community-benefit-societies-and-credit-unions-act-2010-consequential-amendments-regulations-2014/schedule/paragraph-26
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.