Related Commentary  Related HMRC Manuals


In the heading the words “registered societies” substituted for the words “industrial and provident societies” by Co-operative and Community Benefit Societies Act 2014, s. 151 and Sch. 4, para. 143, with effect from 1 August 2014 (subject to Sch. 5 and 6).

132(1)  This section applies if a trade is carried on by a registered society and–

(a)the society does not sell to persons who are not its members, or

(b)the number of shares in the society is not limited by the society's rules or practice.

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