Co-operative and Community Benefit Societies Act 2014 (c. 14)

Part 1 E+W+S Registration

Cancellation of registration E+W+S

5 Cancellation of registration: conditions for cancellation E+W+S

(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;

(b) 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.

Modifications etc. (not altering text)

C1 S. 5 applied (with modifications) by 1979 c. 34, s. 20(1)-(1ZD) (as substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 10(2) (with Sch. 5))

C2 S. 5(3)(b) modified by 1979 c. 34, s. 6(1A) (as inserted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 6(3) (with Sch. 5))