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The Industrial and Provident Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014

Consolidated Text Cited authorities 160 Cited in Amendments 24 Related
Vincent
JurisdictionUK Non-devolved
CitationSI 2014/229
Year2014
(1) This Order may be cited as the F72Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014, and comes into force on 6th April 2014.(2) In this Order—section 22 of, and Schedule 2 to, FSMA any relevant order under section 22 (4) For the purposes of this Order a relevant society is “in administration” while the appointment of an administrator of the society under Schedule B1 to the 1986 Act (5) In this Order a reference to the 1986 Act is to the 1986 Act without the amendments made by section 1 of, and Schedules 1 to 3 to, the Corporate Insolvency and Governance Act 2020.(A1) Part A1 of the 1986 Act (moratorium) applies in relation to relevant CCBS with the modifications set out in paragraph 1(2) of Part 1, and Part 1A, of Schedule 1(1) Part 1 of the 1986 Act (company voluntary arrangements) applies in relation to a relevant society with the modifications set out in Parts 1 and 2 of Schedule 1.(2) Part 2 of the 1986 Act (administration) the courts in England and Wales have jurisdiction to wind up the relevant CCBS, ora sheriff court in Scotland has jurisdiction to wind up the relevant CCBS.(3) Part 26 of the 2006 Act (arrangements and reconstructions) applies in relation to a relevant society with the modifications set out in Schedule 2.(4) Part 26A of the 2006 Act (arrangements and reconstructions: companies in financial difficulty) applies in relation to a relevant society with the modifications set out in Schedule 2A.(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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