Hyperlawhypertext legal database Co-operative and Community Benefit Societies and Credit Unions Act 2010 current to 2015-11-13

UKPGA-2010-7 Co-operative and Community Benefit Societies and Credit Unions Act 2010 UK

Current to 2015-11-13

Contents
preamble

Be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

Co-operative and community benefit societies

s. 1 — Registration of societies as co-operative or community benefit societies

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s. 2 — Re-naming of Industrial and Provident Societies Acts

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s. 3 — Application of provisions relating to directors disqualification

In the Company Directors Disqualification Act 1986 (c. 46), after section 22D insert—.

s. 4 — Power to apply certain other provisions relating to companies

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Credit unions

s. 5 — Power to make provision corresponding to provision applying to building societies
s. 5(1)

In the Credit Unions Act 1979 (c. 34), before section 24 (under the heading “General and miscellaneous”) insert—.

s. 5(2)

In section 29(2) of that Act (orders and regulations: negative resolution procedure), at the beginning insert “ Except as provided by section 23A(7), ”.

s. 5(3)

In section 33(4) of that Act (extent: Northern Ireland), after “With the exception of” insert “ section 23A so far as it confers power to make consequential amendments of enactments extending to Northern Ireland, ”.

Supplementary provisions

s. 6 — Consequential amendments
s. 6(1)

The Treasury may by regulations make such amendments of enactments as appear to them to be appropriate in consequence of any provision made by or under this Act.

s. 6(2)

This power is exercisable in relation to any enactment passed or made before the commencement of the relevant provision, and accordingly extends to the provisions of this Act (apart from this section).

s. 6(3)

In this section “enactment” includes—

s. 6(3)(a)

an enactment contained in subordinate legislation within the meaning of the Interpretation Act 1978 (c. 30),

s. 6(3)(b)

an enactment contained in, or in an instrument made under, an Act of the Scottish Parliament,

s. 6(3)(c)

an enactment contained in, or in an instrument made under, Northern Ireland legislation within the meaning of the Interpretation Act 1978, and

s. 6(3)(d)

an enactment contained in, or in an instrument made under, a Measure or Act of the National Assembly for Wales.

s. 6(4)

The power conferred by this section may, in particular, be exercised so as to replace the words “industrial and provident society” wherever occurring (including in the title of an enactment).

s. 7 — Regulations
s. 7(1)

Regulations under this Act may contain such supplementary, incidental and transitional provisions as appear to the Treasury to be necessary or expedient.

s. 7(2)

Regulations under this Act must be made by statutory instrument.

s. 7(3)

No regulations under this Act are to be made unless a draft has been laid before and approved by a resolution of each House of Parliament.

s. 8 — Short title, commencement and extent
s. 8(1)

The short title of this Act is the Co-operative and Community Benefit Societies and Credit Unions Act 2010.

s. 8(2)

The provisions of this Act (apart from this section) come into force on such day as the Treasury may by order appoint, and different days may be so appointed for different purposes.

s. 8(3)

An order under subsection (2) must be made by statutory instrument and may contain such transitional provision as appears to the Treasury to be necessary or expedient.

s. 8(4)

Sections 5 and 6 extend to Northern Ireland so far as they confer power to make consequential amendments of enactments that so extend (and section 7 and subsections (1) to (3) above have effect accordingly).

s. 8(5)

Her Majesty may by Order in Council direct that any of the provisions of this Act, or any instrument made under it, shall extend, with such modifications (if any) as may be specified in the Order, to any of the Channel Islands. Any such Order in Council may make such transitional, incidental or supplementary provision as appears to Her Majesty to be necessary or expedient.

s. 8(6)

Subject to subsections (4) and (5), the provisions of this Act extend to Great Britain only.