Part 1Registration
Cancellation of registration
C25Cancellation of registration: conditions for cancellation
1
The FCA may, in writing, cancel the registration of a registered society if any of conditions A to E is met.
2
Condition A is that—
a
the society has requested the cancellation of its registration,
b
the request is evidenced in such way as the FCA from time to time directs, and
c
the FCA considers it appropriate to cancel the registration.
3
Condition B is that any of the following is proved to the FCA's satisfaction—
a
that an acknowledgment of registration has been obtained by fraud or mistake;
C1b
that the society has less than 3 members (and does not have 2 members both of which are registered societies);
c
that the society has ceased to exist.
4
Condition C is that it is proved to the FCA's satisfaction—
a
that the society exists for an illegal purpose, or
b
that the society has wilfully and after notice from the FCA violated any of the provisions of this Act.
5
Condition D is that it appears to the FCA—
a
in the case of a society registered as a co-operative society, that the condition in section 2(2)(a)(i) is not met;
b
in the case of a society registered as a community benefit society, that the condition in section 2(2)(a)(ii) is not met;
c
in the case of a pre-commencement society, that neither of the conditions in section 2(2)(a) is met.
6
Condition E is that—
a
the society's registered rules contain provision of a kind authorised by section 22 (rules of agricultural, horticultural or forestry society), and
b
it appears to the FCA that—
i
the society no longer consists mainly of members of a kind mentioned in that section, or
ii
the activities carried on by the society do not mainly consist in making advances to its members for the purposes mentioned there.