Reading the bill’s publication files and writing a plain-English Green Book note…
Reading the bill’s publication files and writing a plain-English Green Book note…
Proposal 3193
A Bill to make provision to permit the capital surplus of co-operatives, mutuals and friendly societies to be non-distributable; and for connected purposes.
Appraisal prepared just now from the official papers. Next scheduled update after the next sitting or within about 24 hours.
Sponsor: Sir Mark Hendrick, Labour
Open publications on bills.parliament.ukPlain-English note and Green Book five-case reading from the official papers — the heart of this page.
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In plain English
The purpose of the Bill is to provide HMT with the power to make regulations which would allow certain prescribed co-operatives, mutual insurers, and friendly societies (“relevant mutual entities”) to opt to restrict the use of their assets.
The papers we read for this bill do not say who would be affected if it became law.
Regulations made by HM Treasury under this power would enable these mutuals to ensure that their assets are only used for certain circumstances or purposes, which would be set out in the regulations.
Same bill, simpler words — a deeper read without the jargon.
Imagine the country is making a new rule. This one is about: The purpose of the Bill is to provide HMT with the power to make regulations which would allow certain prescribed co-operatives, mutual insurers, and friendly societies (“relevant mutual entities”) to opt to restrict the use of their assets.. The people who would notice most are: we are still checking who that would be. If it became a real law, the everyday change would be: Regulations made by HM Treasury under this power would enable these mutuals to ensure that their assets are only used for certain circumstances or purposes, which would be set out in the regulations..
Green Book 2026 · 5 Case Model
The purpose of the Bill is to provide HMT with the power to make regulations which would allow certain prescribed co-operatives, mutual insurers, and friendly societies (“relevant mutual entities”) to opt to restrict the use of their assets.
It is currently at Royal Assent in the Unassigned, sponsored by Sir Mark Hendrick, Labour.
Accountability · outcome beside Green Book evidence
Co-operatives, Mutuals and Friendly Societies Act 2023 became law. The official papers we read covered some Green Book cases well and left gaps in others. For accountability, the outcome sits beside a mixed evidence trail — worth reading the case notes below.
Strategic: The purpose of the Bill is to provide HMT with the power to make regulations which would allow certain prescribed co-operatives, mutual insurers, and friendly societies (“relevant mutual entities”) to opt to restrict the use of their assets.
Economic: The financial mutual sector in the UK serves over 30 million members and writes over £20 billion in premiums annually2. As this Bill does not make further substantive changes in primary legislation, and because this legislation will be optional to adopt and likely to cost the sector less than £5 million per year, the Government considers that there is no need for an impact assessment at this stage.
Commercial: Gap — The papers we read for this bill do not say how this would be bought, contracted or put in place.
Financial: Gap — The papers we read for this bill do not say who would pay for it, or where the money would come from.
Management: The policy intent of the Bill is to provide an additional deterrent against demutualisation and create HM Treasury will continue to work with the sector and regulators to ensure the regulations are appropriately adapted to the needs and specificities of the different mutual models in the sector. This memorandum has been prepared for the Delegated Powers and Regulatory Reform Committee by HM Treasury (HMT) to assist with its scrutiny of the Co- operatives, Mutuals and Friendly Societies Bill (“the Bill”).
This is an accountability reading, not a recommendation and not a score. It does not say whether Parliament should have passed or rejected the bill. It only sets the actual parliamentary outcome beside how complete the Green Book five-case evidence was in the official papers.
These UK Acts sit in a similar policy space and are already law. Pairing uses this proposal’s official papers (and the plain-English note themes). It is not a verdict that the proposal is redundant or unnecessary.
UK Act · Royal Assent · 2009-06-11
Building Societies (Funding) and Mutual Societies (Transfers) Act 2007
Same policy area (“Other”) with overlapping title wording. Matched using wording from this bill’s official papersAlready law — useful context when asking whether this bill adds something new or mainly revisits covered ground.
UK Act · Royal Assent · 2024-06-04
Building Societies Act 1986 (Amendment) Act 2024
Same policy area (“Other”) with overlapping title wording. Matched using wording from this bill’s official papersAlready law — useful context when asking whether this bill adds something new or mainly revisits covered ground.
UK Act · Royal Assent · 2015-03-27
Mutuals' Deferred Shares Act 2015
Same policy area (“Other”) with overlapping title wording. Matched using wording from this bill’s official papersAlready law — useful context when asking whether this bill adds something new or mainly revisits covered ground.
UK Act · Royal Assent · 2014-05-15
Co-operative and Community Benefit Societies Act
Same policy area (“Other”) with overlapping title wording. Matched using wording from this bill’s official papersAlready law — useful context when asking whether this bill adds something new or mainly revisits covered ground.
UK Act · Royal Assent · 2010-04-13
Co-operative and Community Benefit Societies and Credit Unions Act 2010
Same policy area (“Other”) with overlapping title wording. Matched using wording from this bill’s official papersAlready law — useful context when asking whether this bill adds something new or mainly revisits covered ground.