Statutory Instruments
1995 No. 712

INDUSTRIAL AND PROVIDENT SOCIETIES
The Industrial and Provident Societies (Credit Unions)(Amendment of Fees) Regulations 1995

Made
9th March 1995

Laid before Parliament
10th March 1995

Coming into force
1st April 1995

The Treasury, in exercise of the powers conferred upon them by sections 70(1) and 71(1) of the Industrial and Provident Societies Act 1965(1), as applied by section 7(2) of the Industrial and Provident Societies Act 1967(2) and section 31(2) of the Credit Unions Act 1979(3), and of all other powers enabling them in that behalf, hereby make the following Regulations:

1.  These Regulations may be cited as the Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1995 and shall come into force on 1st April 1995.

2.  The Industrial and Provident Societies (Credit Unions) Regulations 1979(4) are amended by substituting for Schedule 2 thereto the following Schedule—

Regulation 17

“SCHEDULE 2FEES PAYABLE FOR REGISTRATION AND SUNDRY OTHER MATTERS

Nature of application
Fee payable £

1.  For the acknowledgement of registration of a credit union (except as provided in paragraph 14 of this Schedule).

600

2.  For the acknowledgement of registration of an amendment of rules being a substitution of an entire set of rules for the existing set of rules (except as provided in paragraph 15 of this Schedule).

380

For the acknowledgement of registration of an amendment of rules not being a substitution of an entire set of rules for the existing set of rules (except that no fee shall be payable for the acknowledgement of registration of an amendment of rules made for the purposes of section 10(2)(b) of the 1965 Act).
175

For the approval of a change of name.
170

For the registration of a notice of change in the situation of a registered office.
33

For the registration of a special resolution where the special resolution relates to an amalgamation or a transfer of engagements.
100

7.  For the appointment of an inspector, or the calling of a special meeting by the Chief Registrar or the Assistant Registrar of Friendly Societies for Scotland (except that no fee shall be payable where an inspector is appointed or a special meeting called by the Chief Registrar pursuant to section 18 of the 1979 Act).

200

For the registration of an instrument of dissolution or alteration therein.
100

9.  On every direction for division or appropriation of the assets of a society—

(a)where the value of the assets is £1,000 or less, 20 per cent of that value

(b)where the value of the assets exceeds £1,000, £200 with an additional £10 for every £100 or part thereof in excess of £1,000.

10.  For every document (except as otherwise provided) required to be signed by a Registrar or to bear the seal of the Central Office not chargeable with any other fee.

30

11.  For the inspection on any particular day of documents on the file kept by a Registrar relating to a single credit union.

8

12.  For the provision of a copy of the whole of or an extract from any document—

(a)where the copy is not certified as a true copy of a document in the custody of the Registrar—

(i)where the copy does not exceed 5 pages, or for the first 5 pages of a copy which exceeds 5 pages

2.50

(ii)for every page of a copy after the fifth page

0.50

(b)where the copy is certified as provided in subparagraph (a) above (as an addition to whatever fee would be payable if the copy were not so certified)

13.  In addition to any fee payable under paragraph 12 above, for the provision of a copy or copies of the whole of or an extract from any document by post

5

14.  For the acknowledgement of a registration of a credit union the rules of which are in the form of model rules, where the application for the registration is made through and endorsed by the association or body which has sponsored the rules contained in the said model.

250

15.  For the acknowledgement of registration of an amendment of rules being a substitution of an entire set of rules for the existing set of rules, where the entire set of rules is in the form of model rules and where the application for registration is made through and endorsed by the association or body which has sponsored the rules contained in the said model.

140

16.  No fee shall be payable in respect of the examination or authentication of copies of rules or amendments of rules to be used for recording under section 8 of the Industrial and Provident Societies Act 1965.

17.  For the registration of an annual return for a year of account ended on or after 31 August 1995.

20

The fee to be delivered to the Central Office pursuant to section 1(2)(b) of the 1967 Act or to the Assistant Registrar of Friendly Societies for Scotland pursuant to section 4(1)(c) of the 1967 Act shall be £30.”

3.  The Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1994(5) are revoked.

A. Mackay
D. Conway
Two of the Lords Commissioners of Her Majesty’s Treasury
9th March 1995

Explanatory Note

(This note is not part of the Regulations)
These Regulations supersede the Industrial and Provident Societies (Credit Unions) (Amendment of Fees) Regulations 1994. They generally increase the fees to be paid for matters transacted under the Industrial and Provident Societies Acts 1965 and 1967 and the Credit Unions Act 1979.
For the first time for a number of years, the cost of supplying services to societies has been re-assessed. The fees have been revised and restructured so that costs are spread more equitably by requiring all societies to pay an annual fee (as is already the case for the vast majority of friendly societies). The new annual fee will first apply to annual returns for societies' financial years ending on or after 31st August 1995.
In the meantime, the charges for transactions during 1995–96 financial year have been revised to relate them more closely to the cost of delivering the particular services—hence specific fees have been increased by various amounts with an average increase of 13 per cent. Charges for inspection of documents have been increased from £4.50 to £8 and associated fees (for obtaining copies etc.) have been increased by a comparable amount.
A review of the cost of compliance with these Regulations has been undertaken and the resulting compliance cost assessment may be purchased from the Registry of Friendly Societies, 15 Great Marlborough Street, London W1V 2AX.


(1)
1965 c. 12.

(2)
1967 c. 48.

(3)
1979 c. 34.

(4)
S.I. 1979/937, amended by S.I. 1994/658.

(5)
S.I. 1994/658.