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The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

S.I. 2014/229 · Made 4 February 2014 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 30 September 2021.

Industrial And Provident Societies

Credit Unions

Made 4th February 2014

Laid before Parliament 7th February 2014

Coming into force 6th April 2014

The Treasury make the following Order in exercise of the powers conferred on them by section 255(1)(a), (4) and (5) of the Enterprise Act 2002 M1.

The Secretary of State concurs in the making of this Order.

Annotations to the whole text

Textual amendments

F1

Title amended (1.8.2014) by virtue of The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 33

Marginal citations

M1

2002 c. 40.

Contents

  1. 1Citation, commencement and interpretation
  2. 2Application to relevant societies and relevant CCBS of law about company arrangements, administration and moratoriums
  3. 2AApplication of section 176ZB of the 1986 Act
  4. 3Application of section 176A of the 1986 Act
  5. 4Application of other provisions of the 1986 Act
  6. 5Application of section 215 of FSMA
  7. 5AApplication of sections 355A and 355B of FSMA
  8. 6Application of section 356 of FSMA
  9. 7Application of section 359 of FSMA
  10. 8Application of section 361 of FSMA
  11. 9Application of sections 362 and 362A of FSMA
  12. 10Application of provisions of FSMA: general provision
  13. 11Application of insolvency rules
  14. 12Application of other subordinate legislation
  15. 13Modified application of section 111 of the 2014 Act
  16. 14Modified application of section 113 of the 2014 Act
  17. 15Modified application of section 126 of the 2014 Act
  18. 16Modified application of section 59 of the 1965 Act Repealed
  19. 17Amendment of the 1965 Act
  20. Signature
  21. Schedule 1: Modified application of Parts 1 and 2 of the Insolvency Act 1986 to relevant societies
  22. Part 1: General modifications
  23. 1Paragraph 1
  24. Part 1A: Modified application of Part A1 of the Insolvency Act 1986 to Co-operative and Community Benefit Societies (further modifications)
  25. 1AParagraph 1A
  26. 1BParagraph 1B
  27. 1CParagraph 1C
  28. 1DParagraph 1D
  29. 1EParagraph 1E
  30. 1FParagraph 1F
  31. 1GParagraph 1G
  32. 1HParagraph 1H
  33. 1IParagraph 1I
  34. 1JParagraph 1J Repealed
  35. 1KParagraph 1K
  36. Part 2: Modified application of Part 1 of the Insolvency Act 1986 to relevant societies (further modifications)
  37. 2Paragraph 2
  38. 3Part 1 (company voluntary arrangements)
  39. 3AParagraph 3A
  40. 4Paragraph 4
  41. 5Paragraph 5
  42. 6Schedule A1 (moratorium where directors propose voluntary arrangement) Repealed
  43. 7Paragraph 7 Repealed
  44. 8Paragraph 8 Repealed
  45. Part 3: Modified application of Part 2 of the Insolvency Act 1986 to relevant societies (further modifications)
  46. 9Paragraph 9
  47. 10Paragraph 10
  48. 10ACreditors’ meetings and creditors’ notices
  49. 11Nature of administration
  50. 12Appointment of administrator by court
  51. 13Appointment of administrator by holder of floating charge
  52. 14Paragraph 14
  53. 15Effect of administration
  54. 16Paragraph 16
  55. 17Paragraph 17
  56. 18Process of administration
  57. 19Paragraph 19
  58. 20Paragraph 20
  59. 21Paragraph 21
  60. 22Paragraph 22
  61. 23Paragraph 23
  62. 24Paragraph 24
  63. 25Paragraph 25
  64. 26Functions of administrator
  65. 27Paragraph 27
  66. 28Paragraph 28
  67. 29Paragraph 29
  68. 30Ending administration
  69. 31Paragraph 31
  70. 32Replacing administrator
  71. 33Paragraph 33
  72. 34General
  73. Part 4: Modified application of Schedule 1 to the Insolvency Act 1986 to relevant societies (further modifications)
  74. 35Paragraph 35
  75. 36Paragraph 36
  76. 37Paragraph 37
  77. 38Paragraph 38
  78. 39Paragraph 39
  79. 40Paragraph 40
  80. Schedule 1A: Supplementary provision on moratoriums
  81. Part 1: General provision
  82. 1Interpretation
  83. Part 2: England and Wales
  84. 2Content of documents relating to the obtaining or extending of a moratorium: general
  85. 3Authentication of documents relating to obtaining or extending moratorium: general
  86. 4Notice that members of the committee wish to obtain a moratorium
  87. 5Proposed monitor’s statement and consent to act
  88. 6Timing of statements for obtaining moratorium
  89. 7Notice by monitor where moratorium comes into force
  90. 8Notice that members of the committee wish to extend a moratorium
  91. 9Extension under section A10 or A11 of the 1986 Act: notices and statements
  92. 10Timing of statements for extension under section A10 or A11
  93. 11Obtaining creditor consent: qualifying decision procedure
  94. 12Obtaining creditor consent: qualifying decision procedure
  95. 13Obtaining creditor consent: qualifying decision procedure
  96. 14Obtaining creditor consent: qualifying decision procedure
  97. 15Obtaining creditor consent: qualifying decision procedure
  98. 16Obtaining creditor consent: qualifying decision procedure
  99. 17Content of application to the court for extension of moratorium
  100. 18Timing of statements accompanying application to court for extension of moratorium
  101. 19Notices about change in end of moratorium
  102. 20Notices about change in end of moratorium
  103. 21Notices about change in end of moratorium
  104. 22Notices about change in end of moratorium
  105. 23Notification by members of the committee of insolvency proceedings etc
  106. 24Notice of termination of moratorium
  107. 25Termination of moratorium under section A38(1)(d) of the 1986 Act
  108. 26Replacement of monitor or additional monitor: statement and consent to act
  109. 27Replacement of monitor or additional monitor: notification
  110. 28Challenge to monitor’s remuneration
  111. 29Challenge to actions of the members of the committee: qualifying decision procedure
  112. 30Priority of moratorium debts etc in subsequent winding up
  113. 31Priority of moratorium debts etc in subsequent administration
  114. 32Prescribed format of documents
  115. 33Prescribed format of documents
  116. 34Delivery of documents
  117. 35Applications to court
  118. 36Identification details for a relevant CCBS
  119. 37Contact details of a monitor or other office-holder
  120. 38Meaning of “The England and Wales Insolvency Rules”
  121. Part 3: Scotland
  122. 39Content of documents relating to the obtaining or extending of a moratorium: general
  123. 40Authentication of documents relating to obtaining or extending moratorium: general
  124. 41Notice that members of the committee wish to obtain a moratorium
  125. 42Proposed monitor’s statement and consent to act
  126. 43Timing of statements for obtaining moratorium
  127. 44Notice by monitor where moratorium comes into force
  128. 45Notice that members of the committee wish to extend a moratorium
  129. 46Extension under section A10 or A11 of the 1986 Act: notices and statements
  130. 47Timing of statements for extension under section A10 or A11
  131. 48Obtaining creditor consent: qualifying decision procedure
  132. 49Obtaining creditor consent: qualifying decision procedure
  133. 50Obtaining creditor consent: qualifying decision procedure
  134. 51Obtaining creditor consent: qualifying decision procedure
  135. 52Obtaining creditor consent: qualifying decision procedure
  136. 53Obtaining creditor consent: qualifying decision procedure
  137. 54Content of application to the court for extension of moratorium
  138. 55Timing of statements accompanying application to court for extension of moratorium
  139. 56Notices about change in end of moratorium
  140. 57Notices about change in end of moratorium
  141. 58Notices about change in end of moratorium
  142. 59Notices about change in end of moratorium
  143. 60Notification by members of the committee of insolvency proceedings etc
  144. 61Notice of termination of moratorium
  145. 62Termination of moratorium under section A38(1)(d) of the 1986 Act
  146. 63Replacement of monitor or additional monitor: statement and consent to act
  147. 64Replacement of monitor or additional monitor: notification
  148. 65Challenge to monitor’s remuneration
  149. 66Challenge to actions of the members of the committee: qualifying decision procedure
  150. 67Priority of moratorium debts etc in subsequent winding up
  151. 68Priority of moratorium debts etc in subsequent administration
  152. 69Prescribed format of documents
  153. 70Prescribed format of documents
  154. 71Delivery of documents
  155. 72Identification details for a relevant CCBS
  156. 73Contact details of a monitor or other office-holder
  157. 74Meaning of “The Scottish Insolvency Rules”
  158. Schedule 2: Modified application of Part 26 of the Companies Act 2006 to relevant societies
  159. 1Paragraph 1
  160. 2Paragraph 2
  161. 3Paragraph 3
  162. 4Paragraph 4
  163. 5Paragraph 5
  164. 6Paragraph 6
  165. 7Paragraph 7
  166. 8Paragraph 8
  167. Schedule 2A: Modified application of Part 26A of the Companies Act 2006 to relevant societies
  168. 1Paragraph 1
  169. 2Paragraph 2
  170. 3Paragraph 3
  171. 4Paragraph 4
  172. 5Paragraph 5
  173. 6Paragraph 6 Repealed
  174. 7Paragraph 7
  175. 8Paragraph 8
  176. 9Paragraph 9
  177. 10Paragraph 10
  178. 11Paragraph 11
  179. Schedule 3: Modified application of other provisions of the Insolvency Act 1986
  180. 1Interpretation
  181. 2Modification of provisions applied by article 4
  182. 3Miscellaneous provisions applying to companies which are insolvent
  183. 3AParagraph 3A
  184. 4Interpretation for first group of Parts
  185. 5Insolvency practitioners: qualification and regulation
  186. 5AParagraph 5A
  187. 5BParagraph 5B
  188. 5CCreditors’ meetings
  189. 5DCreditors’ notices
  190. 6Punishment of offences
  191. 7Paragraph 7
  192. 8Paragraph 8
  193. Schedule 4: Modified application of insolvency rules in relation to relevant societies
  194. Part 1: Interpretation
  195. 1Paragraph 1
  196. 2Paragraph 2
  197. Part 2: Modified application of the Insolvency Rules 1986
  198. 3Paragraph 3
  199. 4Paragraph 4
  200. 5Paragraph 5
  201. 6Paragraph 6
  202. 7Proposal by directors for company voluntary arrangement
  203. 8Consideration of proposals where moratorium obtained Repealed
  204. 9Appointment of administrator by holder of floating charge
  205. 10Process of administration
  206. 11Paragraph 11
  207. 12Meetings and reports
  208. 13Paragraph 13
  209. 14Paragraph 14
  210. 15Paragraph 15
  211. 16Paragraph 16
  212. 17Paragraph 17
  213. 18Paragraph 18
  214. 19Paragraph 19
  215. 20Distributions to creditors
  216. 21Paragraph 21
  217. 22Paragraph 22
  218. 23Paragraph 23
  219. 24Paragraph 24
  220. 25Paragraph 25
  221. 26Paragraph 26
  222. 27Paragraph 27
  223. 28Paragraph 28
  224. 29Ending administration
  225. 30Paragraph 30
  226. 31Replacing administrator
  227. 32Paragraph 32
  228. 33Quorum at meetings
  229. 34Forms
  230. 35“Prescribed part”
  231. Part 3: Modified application of the Insolvency (Scotland) Rules 1986
  232. 36Paragraph 36
  233. 37Paragraph 37
  234. 38Paragraph 38 Repealed
  235. 39Proposal by directors for company voluntary arrangement
  236. 40Consideration of proposals where moratorium obtained
  237. 41Appointment of administrator by holder of floating charge
  238. 42Process of administration
  239. 43Paragraph 43
  240. 44Meetings
  241. 45Paragraph 45
  242. 46Paragraph 46
  243. 47Paragraph 47
  244. 48Paragraph 48
  245. 49Paragraph 49
  246. 50Distributions to creditors
  247. 51Paragraph 51
  248. 52Ending administration
  249. 53Replacing administrator
  250. 54Paragraph 54
  251. 55Quorum at meetings
  252. 56Paragraph 56
  253. 57Paragraph 57
  254. 58Forms
  255. Part 4: Modified application of Part 3 of Schedule 4 to the Corporate Insolvency and Governance Act 2020 Repealed
  256. 59Paragraph 59 Repealed
  257. 60Paragraph 60 Repealed
  258. 61Paragraph 61 Repealed
  259. 62Paragraph 62 Repealed
  260. Schedule 5: Application of other subordinate legislation with modifications
  261. 1Application of the Insolvency Act 1986 (Prescribed Part) Order 2003
  262. 1AModified application of the Insurers (Reorganisation and Winding Up) Regulations 2004
  263. 2Modified application of the Pension Protection Fund (Entry Rules) Regulations 2005
  264. 3Modified application of the Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2010
  265. Explanatory note