Industrial and Provident Society definition

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Checklist—Creating and running a charity

Checklist—Creating and running a charity FORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and the plan, as set out in Charities Act 2022: implementation plan is for its provisions to come into force in three defined groups over three stages, on 31 October 2022, on 14 June 2023 and in “early 2024”. For a summary of the provisions in CA 2022 which have been implemented so far, see: Charities Act 2022: information about the changes being introduced. CA 2022 implements the majority of the recommendations from the 2017 Law Commission report, ‘Technical Issues in Charity Law’. For a summary (as at 9 April 2021) of the recommendations that have been accepted, see News Analysis: Government response to Law Commission report ‘Technical Issues in Charity Law’. When setting up a charity there are a number of issues that have to be decided upon that will not only apply to its creation but also to its future...

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Co-operative and community benefit societies

What is a co-operative or community benefit society?A co-operative society or community benefit society (previously known as industrial and provident societies) (a registered society, or alternatively, a society) is a body corporate with limited liability that can be used by organisations to conduct a business either as a co-operative or for the benefit of a community. There are two categories of registered society:•co-operative societies, which operate for the mutual benefit of their members, who are united by a common economic, social or cultural need or interest, and•community benefit societies, the business of which is conducted to provide services for the benefit of a community at large (not just the members of that society)Legal frameworkThe Co-operative and Community Benefit Societies Act 2014 (CCBSA 2014) governs the registration and operation of registered societies. It came into force on 1 August 2014.The CCBSA 2014 replaced the industrial and provident society (IPS) with two new legal forms:•the co-operative society, and•the community benefit societyThe CCBSA 2014 consolidated and repealed a large amount of earlier legislation...

Charity trustees—a brief guide

Charity trustees—a brief guide Trustees' functions The starting point is that the trustees, or ‘charity trustees’ as defined in section 177 of the Charities Act 2011 (CA 2011), are the persons in charge of the charity who will make the important decisions about strategy, investment policy and the image which the charity is to project. Certain functions must be carried out by trustees: • holding or controlling the assets • deciding how to use the assets and apply the funds • when required, deciding whether funds are to be raised from outside sources • deciding when and how the charity’s constitution is to be altered All charities have charity trustees, but there are other functions which may be carried out by other types of trustee or the charity’s particular structure may incorporate other organs with specialist functions. For example, the members of a charitable company, as opposed to the directors, are responsible for decisions on constitutional change. Trustees and the trust structure In some cases, the legal form of the...

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Code of Conduct for Members [Archived]

Code of Conduct for Members [Archived] ARCHIVED: This Precedent has been archived and is not maintained. 1 Introduction This Code of conduct applies to you whenever you are acting in your capacity as a member of [council name], including: 1.1 at formal meetings of the Council, its Committees and Sub-Committees, its Cabinet and Cabinet Committees 1.2 when acting as a representative of the authority 1.3 in taking any decision as a Cabinet Member or a Ward Councillor 1.4 in discharging your functions as a Ward Councillor 1.5 at briefing meetings with officers 1.6 at site visits 1.7 when corresponding with the authority other than in a private capacity 2 Interpretation 2.1 It is your responsibility to comply with the provisions of this Code. 3 General conduct You must: 3.1 provide leadership to the authority and communities within its area, by personal example; 3.2 respect others and not bully any person; 3.3 recognise that officers (other than political assistants) are employed by and serve the whole authority;...

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Are bodies governed by the Co-operative and Community Benefit Societies Act 2014 able to use the members’ voluntary liquidation procedure set out in the Insolvency Act 1986 and the Insolvency (England and Wales) Rules 2016?

Are bodies governed by the Co-operative and Community Benefit Societies Act 2014 able to use the members’ voluntary liquidation procedure set out in the Insolvency Act 1986 and the Insolvency (England and Wales) Rules 2016? Members' voluntary liquidation (MVL) is a procedure for winding-up an entity on a solvent basis. If the directors of a company make a declaration of solvency under section 89 of the Insolvency Act 1986 (IA 1986), the company can enter into a MVL. In either case, the resolution must be put to a meeting of the members for consideration. If it is passed, it must be advertised within 14 days in the London Gazette. The penalty for failure to advertise is a fine for the company and every officer in default (IA 1986, s 85). Before a company passes a resolution for voluntary winding up, it must give written notice of the resolution to the holder of any qualifying floating charge (IA 1986, s 84(2A)). For further information, see: Members' voluntary...

What is the position in relation to existing security interests following the conversion of a registered society into a company under the Co-operative and Community Benefit Societies Act 2014?

What is the position in relation to existing security interests following the conversion of a registered society into a company under the Co-operative and Community Benefit Societies Act 2014? A co-operative society or community benefit society (registered society) may, by special resolution, convert into a company limited by shares or by guarantee under section 112(1) of the Co-operative and Community Benefit Societies Act 2014 (CCBSA 2014). The use of the term ‘conversion’ is indicative of the fact that the process does not involve the creation of a new entity, but rather a change in its corporate form. This is underlined by CCBSA 2014, s 114(3) which provides that conversion does not affect any right or claim for the time being subsisting against the society and CCBSA 2014, s 114(4) which provides that for the purpose of enforcing any such right, claim or penalty, the society may be sued and proceeded against in the same way as if it had not become registered as a company. CCBSA...