A registered society may by special resolution determine to—
convert itself into a company,
amalgamate with a company, or
transfer its engagements to a company.
In this section "company" means a company under the Companies Acts.
A registered society's registration under this Act becomes void and (subject to section 126) must be cancelled by the FCA if the society—
is registered as a company,
amalgamates with a company, or
transfers all its engagements to a company.
Section 113 contains provisions about special resolutions under this section.
Section 114 contains further provisions about the conversion of a society into a company.
An amalgamation or transfer of engagements does not prejudice any right of a creditor of the society.