The following Corporate guidance note provides comprehensive and up to date legal information covering:
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)
The 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 society
The CCBSA 2014 consolidated and repealed a large amount of earlier legislation relating to IPSs and friendly societies including:
Industrial and Provident Societies Act 1965
Friendly and Industrial and Provident Societies Act 1968, and
Co-operatives and Community Benefit Societies Act 2003
Overall, the CCBSA 2014 made very few changes to the law and mainly
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
0330 161 1234