Co-operatives Bill - The week after the week before

It has been a week since Prime Minister, David Cameron made the historic announcement that the legislation relating to co-operatives will be consolidated into one Act.  As we float down from cloud nine it is a good opportunity to reflect on what it may mean for co-operatives and the co-operative movement more generally.
 
Everybody is eager to learn more about the next steps and what needs to happen in order for consolidation to become a reality.  Moreover, Co-operatives UK is keen for its members, who have long campaigned for such an initiative, to remain up to date with progress.  As such, Co-operatives UK will have a rolling blog of updates charting the passage of the legislation, providing up to date information to our members, as and when we receive it.
 
After the dust has settled....what happens next?
 
The consolidation of the legislation governing co-operatives has a direct impact on those co-operatives registered as or who intend to register as societies.
 
Organisations that wish to register using another available legal form, such as a limited company, will still be able to do so.  What we hope to see is that an organisation's choice to register as a co-operative society is not hampered by outdated and piecemeal legislation.  
 
What are the other benefits of Consolidation?
 
Over the coming weeks, HM Treasury will consult internally and externally with the Law Commission to set out a plan of action.  There is a separate Law Commission in Scotland, which shall also need to be consulted.
 
A consolidation is not a reform or a change to the law, it is a simple task of identifying and compiling the different pieces of legislation together and putting it in one place.  Once compiled, the new legislation will be put before Pariliament before the next election, which must be held by 2015.
 
Moving Forward
 
Part of the task will be to ensure that that the Co-operative and Community Benefit Societies and Credit Unions Act 2010 is commenced so that it can become part of the consolidated legislation and that co-operative and community benefit societies are clearly registered as a co-operative or a community benefit society.
 
Co-operatives UK proactively continues to work with HM Treasury to commence this Act.  The Prime Minister's annoucement adds strength to Co-operatives UK's argument that now, more than ever, it is important that this long awaited Act is commenced.
 
On behalf of our members, Co-operatives UK will be vigilant as the work on this moves forward and we will keep our members informed on progress. 
 
There is of course more that can be done, as our members remind us.  Co-operatives UK continues to campaign for co-operation, which includes all types of co-operative, irrespective of the legal form chosen by a co-operative to carry out its business for the benefit of its members.