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Bill · started in the Commons

Co-operative and Community Benefit Societies and Credit Unions Bill

To make provision for societies to be registered as co-operative or community benefit societies and to re-name the Industrial and Provident Societies Acts; to apply to registered societies the provisions relating to directors’ disqualification and to make provision for the application of certain other enactments relating to companies; to confer power to make provision for credit unions corresponding to any provision applying to building societies; and for connected purposes.

In progress Current stage: 2nd reading (Lords)

The story so farThe Co-operative and Community Benefit Societies and Credit Unions Bill was introduced in the House of Commons on 21 January 2009 by Malcolm Wicks (Labour). It is now at second reading in the House of Lords. Second reading is the first debate on the overall principle of the bill; if the bill clears it, detailed committee scrutiny follows.

What the bill does

<p>The purpose of the Bill is to reform the law governing industrial and provident societies.</p><p><strong>Key areas</strong></p><ul><li>Requires new industrial and provident societies other than credit unions to be registered as co-operative or community benefit societies </li><li>Renames the Industrial and Provident Societies Acts</li><li>Applies the Company Directors Disqualification Act 1986 to industrial and provident societies</li><li>Gives the Treasury powers to apply company law on investigation of companies, company names and dissolution and restoration to the register to industrial and provident societies </li><li>Gives the Treasury powers to make provisions for credit unions corresponding to provisions applying to building societies.</li></ul>

Progress through Parliament

  1. 1st reading Commons 21 Jan 2009
  2. 2nd reading Commons 24 Apr 2009
  3. Committee stage Commons 10 Jun 2009
  4. Report stage Commons 12 Jun 2009
  5. 3rd reading Commons 12 Jun 2009
  6. 1st reading Lords 15 Jun 2009
  7. 2nd reading Lords 10 Jul 2009

Source: the official bill page. Last updated 13 Nov 2009.