Clause 2 - Community benefit societies

Part of Industrial and Provident Societies Bill – in a Public Bill Committee at 10:45 am on 13th February 2002.

Alert me about debates like this

Photo of Chris Grayling Chris Grayling Conservative, Epsom and Ewell 10:45 am, 13th February 2002

May I take that example further? Let us suppose that a Royal British Legion club's membership tails off as veterans become fewer in number—that will be inevitable over the next few years. The club may become no longer viable as a result, and the members may decide to liquidate the club's assets and distribute them to the surviving veterans as a contribution. Would the clause prevent that from occurring?