Talk:Industrial and provident society

Scotland?

I wonder if this is England and Wales law. Need to do some research as I'm not sure which body charities in Scotland register with - it might just be the Inland Revenue - if it is then there will be no distinction in Scotland. Secretlondon 00:45, Dec 13, 2003 (UTC)

IPSes do exist in Scots law but might be different. Charities work oddly there, I was unable to find a Scots equivilant to the Charity Commission, it looks like its done either on an informal basis or by councils or somesuch. There is ongoing discussions and plans to basically import England and Wales law in terms of registration. THe 'four heads of charity' and so on are the same, just not the technical details. Morwen 00:47, Dec 13, 2003 (UTC)

IPSs (the name is now obsolete) are established under a UK act and are therefore identical in Scotland. The only difference will be the familiar differences of law as to granting of security, possibility of bearer instruments, etc. But these are not intrinsic to the IPS itself. OnceATeacher (talk) 20:27, 21 October 2023 (UTC)

For the record: charities in Scotland are regulated by the Office of the Scottish Charity Regulator and in Northern Ireland the Charity Commission for Northern Ireland. – Kaihsu (talk) 12:18, 3 December 2009 (UTC)

Merge proposal

Clearly, this article should not have been created after Industrial and provident society already existed. Now that there are two, the capitalised version of the title appears preferable, as both articles capitalise the words in the first line.

I'm hoping another editor who has up to date knowledge of the subject will be willing to merge the pages shortly. Fayenatic london (talk) 13:49, 28 May 2007 (UTC)

It seems easy enough to combine them though - surely the merge isn't controversial Jddphd 04:06, 7 July 2007 (UTC)

Now  Done. Fayenatic london (talk) 13:14, 9 July 2007 (UTC)

Category

as an IPS very specifically isn't a type of company (different legislation, different legal form) I'm removing that category. – JonStrines (talk) 12:22, 29 October 2009 (UTC)

community benefit IPS versus CIC

I understand that a community benefit IPS has a different statutory basis from a community interest company. However, they seem to be trying to achieve similar (if not exactly the same) purposes. Why two legal forms then? Also see the Co-operative and Community Benefit Societies and Credit Unions Bill, which would ‘make provision for societies to be registered as co-operative or community benefit societies and [...] re-name the Industrial and Provident Societies Acts’. – Kaihsu (talk) 13:26, 3 December 2009 (UTC)

I have since been informed thus: A CIC does not have shareholders and therefore cannot distribute its profits as dividends; effectively they are like charities, but can undertake trading activities. An IPS has shareholders and can distribute its profits either (in the case of co-operatives) to them as dividends or (in the case of community-benefit IPS) to other community-interest projects. I am not sure this is fully accurate, though. The precise formulation should be clear from the statutes (which I have not read). – Kaihsu (talk) 02:47, 11 December 2009 (UTC)

CIC's can have shareholders and can distribute (up to 35% of) their profits so you have been given misleading information by someone. Francis Davey (talk) 09:53, 20 June 2012 (UTC)

They can indeed. They can also exist in the alternative guarantee form. In the first case the shareholders have a share in the assets of the company; in the second the assets are not 'owned' by anyone. (That in itself doesn't stop them making distributions to members, but a CIC limited by guarantee is precluded from doing so by articles prescribed by statute.) OnceATeacher (talk) 20:34, 21 October 2023 (UTC)

According to Iain Snaith, an authority on the subject, a company (of any sort) is conceived of as an aggregation of capital, whereas as coop or bencomm is an (incorporated) association of persons. The laws relating to each are slowly assimilating, to a degree, but there will remain fundamental differences. As often, these are most likely to show themselves when the entity ceases to exist as such. OnceATeacher (talk) 20:31, 21 October 2023 (UTC)

New Act and renaming of societies in UK from 01.08.2014

This now needs a rewrite in the light of the Cooperative and Community Benefit Societies Act and other legislation that year which have made significant changes see. The 2014 Act has consolidated and repealed most earlier pru=imary legislation. The changes have mainly been carried out by secondary legislation. I plan to try to do something on that as and when I can, but I am a newbie to writing for the wikipedia and am feeling my way so it may take a while. Would it be good to both update this article and also write a separate article on the Co-operative and Community Benefit Societies Act 2014? Maybe it's best to start by updating this one? ISnaith (talk) 17:17, 30 November 2014 (UTC)ISnaith

@ISnaith: I've created on article on Co-operative and Community Benefit Societies Act 2014, and made some updates to this article. Please make additions and corrections that you can see are needed. Jonpatterns (talk) 13:50, 26 April 2015 (UTC)

@Jonpatterns: I have just done a major rework of the section Cooperative and Community Benefit Societies on that page. I think the two pages are ripe for a merger, or else the one on the Act could be massively abbreviated to give just the legislative upshot.

It would be good if this page could have a new title to reflect the new (2014!) terminology. Alternatively, perhaps this page again could be very much abbreviated to give the history of societies, and a new page describing the new forms could be created.

I'm not an expert wikipedian, so don't know whether there'd be policy on any of that ? OnceATeacher (talk) 22:56, 21 October 2023 (UTC)

References

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What are these things? Please add it to the article

This article lacks an important part - saying what these actually are. It immediately goes into the history and legal stuff without saying what they are and what they do. --AW (talk) 22:53, 6 January 2022 (UTC)