ETMD: merger to form a European Cooperative Society or SCE
Under the regulations an SCE can be formed in a number of ways such as by transformation of an existing cooperative society or by a merger of existing cooperative societies. The initial requirement is that a merger must be in accordance with articles 2(1) and 19 of Council Regulation (EC) 1435/2003 and that one of the cooperative societies is a society registered under the Industrial and Provident Societies Act 1965; TCGA 1992 section 140E(1)(b).
The requirement in article 2(1) in relation to a merger is covered by sections 140E(2)(a) & (b) and article 19 is covered by sections 140E(1)(b), (2)(d) & (2)(e).
Note that section 140E can only apply on or after 18 August 2006 to mergers involving the formation etc of an SCE.