Skip to main content

Co-Operative Societies

Volume 407: debated on Friday 20 June 2003

The text on this page has been created from Hansard archive content, it may contain typographical errors.

To ask the Chancellor of the Exchequer if he will make it his policy to apply the same conditions to co-operative societies under industrial and provident society rules as to companies regarding (a) audit and accountants' reports and (b) publication of unaudited interim accounts. [119973]

The Government are keen to see, where appropriate, a level playing field between industrial and provident societies and companies. We are currently examining our options for taking forward this agenda. However, in order to provide for a strategic, consistent and up-to-date approach between companies and societies, the Government believe that the general modernisation of industrial and provident society legislation in this area should be considered in the light of the planned major reform of company law, announced in the "Modernising Company Law" White Paper, published in July 2002.