Friendly Societies and Credit Unions Act 1982

84 Society may apply to be registered as company

(1)

A registered society may, by special resolution, determine to apply to be registered as a company under the Companies Act 1993.

(2)

A society that has branches shall not pass a resolution of the kind referred to in subsection (1) except with the consent of the central body of the society.

(3)

A copy of every special resolution passed for the purposes of subsection (1) shall be sent or delivered to the Registrar of Companies together with the application for registration under section 12 of the Companies Act 1993.

(4)

Subject to subsection (5) and to section 97, if a registered society is registered as a company under the Companies Act 1993, the registration of that society under this Act shall thereupon cease and shall be cancelled by the Registrar.

(5)

Registration of a registered society as a company shall not affect any right or claim subsisting against the society or any penalty incurred by the society, and—

(a)

for the purpose of enforcing any such right, claim, or penalty, the society may be sued and proceeded against in the same manner as if it had not become registered as a company:

(b)

every such right or claim, or the liability to any such penalty, shall have priority as against the property of the company over all other rights or claims against or liabilities of the company.

Section 84: substituted, on 1 September 1996, by section 51 of the Co-operative Companies Act 1996 (1996 No 24).