British MP introduces bill to improve coop's access to capital
15 Jun 2022
Sir Mark Hendrick, the Labour/Co-op MP for Preston, introduced a private members’ bill to update part of the law on co-operative businesses.
If passed, his Co-operatives, Mutuals and Friendly Societies Bill would address problems with the types share capital issued by co-operatives; make provision about the taxation of mutual insurers and friendly societies which issue deferred shares; permit the capital surplus of co-ops, mutuals and friendly societies to be non-distributable; and amend the Friendly Societies Act 1992.
