A Bill to enable the law relating to societies registered under the Industrial and Provident Societies Act 1965 or the Friendly Societies Act 1992 and certain mutual insurers to be amended to permit and facilitate the use of a new and additional class of redeemable share capital; to provide consequential rights to members of such societies or insurers; and to restrict the voting rights of certain members who hold such shares.
House of Lords
23 July 2013
The bill would let certain mutual organisations, such as specific friendly societies and mutual insurers, issue a new type of redeemable share capital. It would give some rights to members who hold these shares and limit their voting rights if they hold such shares, aiming to help mutuals raise money while protecting member influence.
The Bill is currently at its 2nd Reading in the Lords, starting its journey through Parliament. The next steps would typically include Committee stage and further readings in the Lords before moving to the House of Commons.
Generated 21 February 2026
First reading took place on 22 July. This stage is a formality that signals the start of the Bill's journey through the Lords.
Second reading - the general debate on all aspects of the Bill - is yet to be scheduled.
The 2013-14 session of parliament has prorogued and this Bill will make no further progress.
No recorded votes for this bill yet.
