December 2024 saw the submission of our firm’s response to the Law Commission’s consultation on the Co-operatives and Community Benefit Societies Act 2014.
In preparing our response we worked alongside the Charity Law Association and a group of lawyers from other leading firms in this sector.
The consultation covers a range of issues, from fundamental questions like the definition of a co-operative and director duties, to share capital and the role of the regulator. Our submission emphasises the need for a flexible and purpose-driven legal structure that empowers organisations to fulfil their missions.
Key proposals include:
- Ensuring registration requirements are proportionate and purpose led.
- Strengthening member accountability to uphold democratic values.
- Introducing safeguards to prevent financial misconduct and ensure transparent reporting.
The sector-wide contributions, to which we are proud to have contributed, include
- Bates Wells Response to the Law Commission Consultation
- Preliminary Ideas for Reform by the CCBSA Lawyers’ Group
- Charity Law Association Response
As the Law Commission’s review progresses, the insights provided by these responses will shape the future of co-operatives and community benefit societies, helping them to thrive in an evolving social and economic landscape.