Are co-operatives registered and incorporated like conventional businesses?
Many co-operatives are incorporated as limited companies and registered at Companies House, the same as other business models, and must comply with the Companies Act. Co-operatives can also be registered as Industrial & Provident Societies (IPS) under the Industrial and Provident Societies Act 1965. The Financial Services Authority is the registrar of IPSs and will check the constitution of each registering business to ensure it fits with bona fide co-operative values and principles. A co-operative registered at Companies House will usually only be screened in the same way if it has the word ‘Co-op’ or ‘Co-operative’ in its title.
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