Goodbye industrial and provident societies, hello community benefit societies
There has been quite a bit of talk about new regulation of industrial and provident societies (IPSs), but what is actually happening and is much really changing?
The Co-operative and Community Benefit Societies Bill was introduced into the House of Lords in December and has already had its second reading. The bill’s purpose is to consolidate existing law relating to co-operative societies, community benefit societies (CBSs) and other societies registered or treated as registered under the Industrial and Provident Societies Act 1965 — that is, IPSs. It is intended to make legislation more user friendly.
The project to consolidate the legislation was first announced by the government in early 2012 and has been taken forward by HM Treasury, the Law Commission and the Scottish Law Commission. Following a consultation, the Law Commission published a report of recommendations that have been included in the bill. These are a aimed at tidying up and simplifying the existing legislation and include the following…
Click on the link below to read the rest of the Gateley briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Gateley
News from The Lawyer
Briefings from Gateley
The pictures of the Chelsea fans in Paris preventing a passenger from boarding the train due to his race were featured in every major newspaper recently.
What happens when the design consultant decides to go ‘off piste’, and enhances the specification, after the contractor has agreed the fixed price?
Analysis from The Lawyer
The Law Society recently published guidance to assist solicitors draw up Shariah-compliant wills, causing outrage in some quarters. Gateley’s Haroon Rashid explains the facts.