The Law Commission is reviewing Co-operative & Community Benefit Society law. Share your views by 5th December to modernize & improve the legislation.
As we have explained elsewhere in recently published articles and webinars,this is the first major review of society legislation formerly known as the Industrial and Provident Societies Act since its enactment in 1852.
Some lawyers, including senior representatives from Wrigleys' own Charities and Social Economy Team, have collaborated to respond to the consultation process.
We are suggesting a new approach to how a Society is defined, which focusses on its purpose. The overall aim of our proposals is to make it easier for people to establish a purpose-based enterprise and to strengthen the role of members in its governance.
We're calling for a proportionate law that is better equipped to regulate the sector in the modern age.
You can read the full draft proposals attached to this article. They may be amended prior to the deadline for submissions to the Law Commission on 10th December.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
