2.6.6 Converting between society forms

A co-operative society registered before the commencement of the Co-operative and Community Benefit Societies Act 2014 on 1 August 2014, may convert to a community benefit society without having to register a new society, but not vice versa.

From 1 August 2014 onwards societies are registered as co-operative societies or community benefit societies and cannot convert from one form to another.  Instead any society wanting to change its society form would need to register a new society and be allowed to transfer its engagements to this new entity.  A community benefit society with a prescribed asset lock would not be allowed to transfer its engagements to a co-operative society, and it is unlikely that the FCA would allow a community benefit society without the prescribed asset lock to do so either.  

If you have any questions or suggestions for new information you would like to find in the Handbook, contact the team by email at communityshares@uk.coop