Structure of the Act Part 2 – Regulation of Social Housing Restructuring and dissolution Section 164 - Industrial and provident society:  winding up
478.Subsection (1) specifies that the effect of this section is restricted to non-profit registered providers that are industrial and provident societies.
479.Subsections (2) and (3) re-enact paragraph 12(4) of Schedule 1 to the 1996 Act.
480.Subsection (2) provides that the regulator must first consent before a resolution for the voluntary winding up of a society under the Insolvency Act 1986 is effective.
481.Subsection (3) refers to the requirement to send a copy of a winding up resolution to the Financial Services Authority under section 30 of the Companies Act 2006. It specifies that this requirement is only satisfied if the resolution is accompanied by a copy of the regulator’s consent. This requirement of the Companies Act 2006 is applied to industrial and provident societies by section 55 of the Industrial and Provident Societies Act 1965, and section 84(3) of the Insolvency Act 1986. Failure to comply with section 30 of the Companies Act 2006 is an offence.