Jurisdiction(s):
United Kingdom

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Key definition

Co-operative and community benefit societies definition

What does Co-operative and community benefit societies mean? In legal practice, this term describes the registered‑society vehicle used to run mutual or community‑purpose businesses, giving separate legal personality and limited liability to members. In England & Wales and Scotland it is a statutory concept under the Co‑operative and Community Benefit Societies Act 2014 (which replaced the Industrial and Provident Societies regime). In Northern Ireland, closely aligned provisions exist under the Co‑operative and Community Benefit Societies Act (Northern Ireland) 2016. In Ireland, comparable bodies are registered as co‑operative societies under the Co‑operative Societies Act 2024 (previously under the Industrial and Provident Societies Acts); “community benefit society” is...

Co-operative and Community Benefit Societies: Registration, Governance, Share Capital, Restructuring and Insolvency under the Co-operative and Community Benefit Societies Act 2014 and FCA Guidance

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Practice notes

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A co-operative or community benefit society (CCBS), previously termed an industrial and provident society (IPS), is a limited liability corporate body that organisations may use to run a business either as a co-operative serving members’ mutual interests, or as a community benefit society operating for the good of a community. This Practice Note sets out the legal framework, organisational structure and the registration process for these societies. It also makes extensive reference to the FCA’s finalised guidance on registered societies, with sections addressing governing rules, share capital, name, transfer of engagements, conversion, amalgamation, dissolution and winding up.

What is a co-operative or community benefit society?

A co-operative society or community benefit society (historically called an industrial and provident society) is a registered society—also described as a society—and a corporate body with limited liability that can be used by organisations to carry on business either on a co-operative basis or for community benefit. There are two categories of registered society:

co-operative societies, which operate for the mutual benefit of their members, who are brought together by a common economic, social or cultural need or interest, and
community benefit societies

...

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Web page updated on 21/05/2026

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