Section 43: Duties of receiver or manager of society’s property.

Industrial and Provident Societies Act 1965 · 1965 c.12

This provision is repealed

It is retained for historical reference and may not reflect the law currently in force.

REPEALED on 2014-08-01 by Community Benefit Societies Act 2014.
The text below is from the dated revised snapshot immediately preceding this status change. It is historical and is not current law. View the historical source.

43(1)

Every receiver or manager of the property of a registered society who has been appointed under the powers contained in any instrument shall—

(a) within one month from the date of his appointment notify the FCA of his appointment; and

(b) within one month (or such longer period as the FCA may allow) after the expiration of the period of six months from that date, and of every subsequent period of six months, deliver to the FCA a return showing his receipts and his payments during that period of six months; and

(c) within one month after he ceases to act as receiver or manager deliver to the FCA a return showing his receipts and his payments during the final period and the aggregate amount of his receipts and of his payments during all preceding periods since his appointment.

43(2)

If the society is a PRA -authorised person—

(a) the receiver or manager must send to the PRA a copy of any notification or return sent under subsection (1) to the FCA ; and

(b) the FCA must consult the PRA before allowing a period of greater than one month under paragraph (b) of subsection (1).

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.