Help for co-ops and credit unions

Legislation that will help put co-operatives in Northern Ireland on a more equal footing with other forms of business, and also gives credit unions greater freedom, has reached its final stages.

The Credit Unions, Co-operatives and Community Benefit Societies Bill is expected to become an Act when Royal Assent is given in April. It includes a series of updates around investment and accounting for co-ops, and credit unions in Northern Ireland will be able to provide new products and services, including opening membership to corporate bodies. » Continue reading news item ... “Help for co-ops and credit unions”

Welsh government adopts co-op recommendations

The Welsh Government’s Economy Minister has announced that it will adopt the recommendations of a report on developing the co-operative and mutual business model in Wales. The Welsh Co-operative and Mutuals Commission came up with 25 recommendations on creating a culture and environment in which co-operative ways of doing business are the norm, and has been asked to review progress in six months.

Official news item.

Basic guide to Co-operative and Community Benefit Societies Act

Further to an earlier news item about guides to the Co-operative and Community Benefit Societies Act 2014, in force from 1st August, the Financial Conduct Authority has produced a ‘one minute guide’, http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/firm-guides/cooperative-and-community-benefit–societies. This gives a summary for new and existing societies which may be affected.

The Industrial and Provident Society (IPS) legal form is replaced with two new legal forms:

  • co-operative society
  • community benefit society

The Act also consolidates previous industrial and provident society legislation. » Continue reading news item ... “Basic guide to Co-operative and Community Benefit Societies Act”

Simplified legislation for co-operatives

New consolidated legislation for co-operatives came into effect from1st August, the first such simplification and unification of what was complex law for over fifty years.

Co-operatives UK has a number of useful downloadable publications, such as:

 » Continue reading news item ... “Simplified legislation for co-operatives”

Social co-ops for social care

Co-operatives UK, the Wales Co-operative Centre and Co-operatives and Mutuals Wales have jointly produced a strategy report ‘Social Co-operatives, a Democratic Co-production Agenda for Care Services in the UK’. Drawing on lessons from international experience, such as social co-operatives in every town in Italy, it proposes co-operative delivery of social care.

See http://www.walescooperative.org/social-co-operatives-report, plus Ed Mayo’s blog.