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.
The purpose of the Bill is to reform the law governing industrial and provident societies.Key areasRequires new industrial and provident societies other than credit unions to be registered as co-operative or community benefit societies Renames the Industrial and Provident Societies ActsApplies the Company Directors Disqualification Act 1986 to industrial and provident societiesGives 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 Gives the Treasury powers to make provisions for credit unions corresponding to provisions applying to building societies.
House of Commons
13 November 2009
This Bill updates the law for cooperative and community benefit societies and the older industrial and provident societies (IPS). It requires new IPSs (except credit unions) to register as either co-operative or community benefit societies, renames the IPS Acts, and extends certain company-law rules to IPSs, including directors’ disqualification. It also gives the Treasury powers to apply some company-law provisions to IPSs and to make rules for credit unions that mirror those for building societies.
The bill is at the second reading in the Lords and originated in the Commons.
Generated 21 February 2026
During second reading of the Bill on 10 July, a wide-ranging discussion took place on issues including the rules by which co-operatives and mutuals are governed and the future of the sector.
Committee stage - line by line examination of the Bill - is yet to be scheduled.
No recorded votes for this bill yet.
