Clause 1 - Community benefit societies
Co-operatives and CommunityBenefit Societies Bill
3:00 pm
Ms Ruth Kelly (Financial Secretary, HM Treasury; Bolton West, Labour)
Absolutely. As far as I am aware, asset lock-in will not affect the tax status of society's assets. I do not see any reason why tax-driven behavioural effects should arise from the Bill.
On that note, I commend new clause 1 to the Committee, and I hope that all members will support it.
Question put and negatived.
Clause 1 disagreed to.Clause 2A Society's Capacity