Clause 3 - Power to modify, etc. to assimilate to company law

Part of Industrial and Provident Societies Bill – in a Public Bill Committee at 11:30 am on 13th February 2002.

Alert me about debates like this

Photo of Gareth Thomas Gareth Thomas Party Chair, Co-operative Party 11:30 am, 13th February 2002

I cannot comment on the hon. Gentleman's example of parish councils because I do not represent an area with them.

Company law addresses different sizes of companies, which are as wide and various as industrial problems, if not more so, by drawing distinctions between those sizes. New clause 5 would allow, where appropriate, a read-across of those sections of company law for industrial and provident societies. To return to the rugby club analogy, provisions, and potentially criminal offences, are already in place for the directors of a rugby club that is a company. Those criminal offences are appropriate for rugby clubs that are similar in size but happen to use different models of industrial and provident society. The hon. Gentleman's concern has already been addressed by sensible differences in company legislation. We are simply seeking to read-across.