Paragraph 2(1)(a) of Schedule 9 to the Proceeds of Crime Act 2002 (regulated sector and supervisory authorities) is amended as follows.

For “section 6 of the Industrial and Provident Societies Act 1965 (maximum shareholding in society)” substitute “ section 24 of the Co-operative and Community Benefit Societies Act 2014 (maximum interest in a society's withdrawable shares) ”.

For “section 7(3) of that Act (carrying on of banking by societies)” substitute “ section 67(2) of that Act (registered society with withdrawable share capital not to carry on banking etc) ”.

For “a society registered under that Act” substitute “ a registered society within the meaning of that Act ”.