RFCCBS 3.2 Summary of requirements
1The Act states that we can register a society as follows:
‘A society for carrying on any industry, business or trade (including dealings of any kind with land) may be registered under this Act as— |
(a) a co-operative society, or |
(b) a community benefit society.’ |
[Note: see s2, the act]
1We explain our approach to defining co-operative societies and community benefit societies in RFCCBS 3 and 4 respectively.
1The requirement to carry on an ‘industry, business or trade’ generally means that a society that exists primarily to hold shares in other organisations (other than in its own subsidiary) and does not carry out any activity of its own is unlikely to be able to be registered.
1Every society must also:
- (1)
have at least three members unless it consists of two registered societies;
- (2)
have a proposed name that is not undesirable (see RFCCBS 3.8);
- (3)
have its registered office in Great Britain or the Channel Islands;
- (4)
have rules that include the required provisions and which are not contrary to the Act (see RFCCBS 3.4).
1Please see below for further details on names and rules.