404Requirements before application can be made

404 Requirements before application can be made

404 Requirements before application can be made

(1) Before an application is made under section 403, the co-operative must, by special resolution passed by a special postal ballot—

(a) approve the proposed application; and

(b) decide under what name the co-operative is to apply to be registered, incorporated or otherwise established; and

(c) adopt constituent documents that may be necessary or considered desirable.

(2) An application cannot be made under section 403 in respect of a co-operative without share capital unless—

(a) the application is made at least 2 weeks after a notice has been published in a newspaper circulating generally in the district in which the registered office of the co-operative is situated advising of the proposal to submit the proposed special resolution to members of the co-operative; and

(b) either—

(i) in a case where the new body will have share capital—all the members of the co-operative will have an equal shareholding; or

(ii) in any case—the Registrar approves in writing of the making of the application.

(3) The name applied for need not be the same as that of the co-operative and must not include the word “Co-operative” or another word or abbreviation importing a similar meaning.

(4) The Registrar may, by designated instrument, exempt a co-operative from compliance with a provision of this section and section 248 in relation to a matter to which this section applies.

(5) An exemption may be given unconditionally or subject to conditions.