Paragraph 1 Industrial and Provident Societies Act 1965

In section 6 of the Industrial and Provident Societies Act 1965^f1 (maximum shareholding in society) after subsection (1) insert—

“(1A)

In the case of a society which is a private registered provider of social housing, the restriction in subsection (1) does not apply to shares acquired by a local authority under the power in section 2 of the Local Government Act 2000.”.