§ Mr. KeenTo ask the Chancellor of the Exchequer if he will set out the objectives of the forthcoming general review, under the deregulation initiative, of the industrial and provident societies legislation as outlined in the recent report of the Chief Registrar; what steps are being taken to consult interested societies and their members; if he will produce a timetable for the review; and if he will make a statement. [19449]
§ Mr. NelsonA consultation document on proposed changes to industrial and provident societies legislation was published on 5 April,Official Report, column 1162. Copies have been sent to promoting bodies, professional accounting bodies, solicitors' firms, housing associations and co-operatives. Proposals include aligning the audit requirements for industrial and provident societies with those of companies and changing the timetable for submitting returns. The closing date for response is 12 May. Subject to the responses, the Government hope to put draft orders to the Deregulation Committee as soon as possible thereafter.