Paragraph 6

Section 52 (conversion into, amalgamation with, or transfer of engagements to company) shall apply to a prescribed community benefit society that has a restriction on use as if, in subsection (1), for “, a company under the Companies Acts” there were substituted—

“—

(a)

a community interest company (within the meaning of section 26 of the Companies (Audit, Investigations and Community Enterprise) Act 2004^f1);

(b)

a company under the Companies Acts that is a registered social landlord (within the meaning of the Community Benefit Societies (Restriction on Use of Assets) Regulations 2006); or

(c)

a company under the Companies Acts that is a charity (within the meaning of those Regulations).”.