Clause 3 - Formalities of Carrying on Societies' Business
Co-operatives and CommunityBenefit Societies Bill
3:15 pm
Ms Ruth Kelly (Financial Secretary, HM Treasury; Bolton West, Labour)
The new clauses inserted into the 1965 Act would facilitate the ability of societies to enter into contracts and to undertake business transactions by modernising the measure in line with the position in company law in relation to how societies execute deeds and documents and enter into contracts.
I will clarify the point about Northern Ireland. The provision that the hon. Gentleman mentioned refers to Northern Irish societies which are operating within Great Britain—hence the need for the reference.
I welcome the endorsement of the new clauses made by the hon. Member for Eddisbury. I confirm that they apply only to future transactions and we will ensure
that that is clarified in the commencement order. I commend the new clauses to the Committee.
Question put and negatived.Clause 4Interpretation