Co-operative and Community Benefit Societies and Credit Unions Act 2010 explained

Short Title:	Co-operative and Community Benefit Societies and Credit Unions Act 2010
Parliament:	Parliament of the United Kingdom
Long Title:	An Act to make provision for societies to be registered as co-operative or community benefit societies and to re-name the Industrial and Provident Societies Acts; to apply to registered societies the provisions relating to directors disqualification and to make provision for the application of certain other enactments relating to companies; to confer power to make provision for credit unions corresponding to any provision applying to building societies; and for connected purposes.
Statute Book Chapter:	2010 c. 7
Introduced By:	Lord Tomlinson and Malcolm Wicks^[1]
Territorial Extent:	England and Wales Scotland Northern Ireland (only to amend existing legislation)
Royal Assent:	18 March 2010
Amendments:	Co-operative and Community Benefit Societies Act 2014
Status:	partially_repealed
Original Text:	http://www.legislation.gov.uk/ukpga/2010/7/contents
Use New Uk-Leg:	yes
Legislation History:	http://services.parliament.uk/bills/2009-10/cooperativeandcommunitybenefitsocietiesandcreditunionshl.html

The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (c. 7) is an Act of the Parliament of the United Kingdom that received royal assent on 18 March 2010.

Provisions

The Act provides that:

• Industrial and Provident Societies will be either a Co-operative Society or a Community Benefit Society or a Pre-2010 Act Society.
• Like companies, organisations registered as societies under the Industrial and Provident Societies Act 1965 will be subject to the Company Directors Disqualification Act 1986. Board or Management Committee members will be treated like company directors.
• Societies registered under the 1965 Act may be made subject to additional Companies Act 2006 provisions, following consultation, which may relate to: Investigations of companies, company names, dissolution and restoration to the register.
• Renames related acts including 'Industrial and Provident Societies Act 1965' to 'Co-operative and Community Benefit Societies and Credit Unions Act 1965'.

Parliamentary process

The Bill was first presented (first reading) in the House of Lords on 19 November 2009 and received its third reading on 14 January 2010.^[2] It was first read in the House of Commons on 14 January 2010 and received its third reading on 12 March 2010.^[2]

See also

• Co-operative and Community Benefit Societies Act 2014
• Industrial and provident society

Notes and References

1. Web site: Bills before Parliament - Co-operative and Community Benefit Societies and Credit Unions Bill 2009-2010 . 23 February 2011 . UK Parliament.
2. Web site: Bills before Parliament - Co-operative and Community Benefit Societies and Credit Unions Act 2009-2010 - Bill stages . 23 February 2011 . UK Parliament.