An industrial and provident society (IPS) is a legal entity for a trading business or voluntary organisation in the United Kingdom, the Republic of Ireland, and New Zealand. Recent UK legal developments include the Co-operatives and Community Benefit Societies Act 2003, which has introduced the concept of an asset lock, which a society registered as a community benefit society (but not one registered as a co-operative) can introduce to prevent specified assets being used for unintended purposes.
Read more about Industrial And Provident Society: Categories of IPS, Regulation, Forms of Financial Capital, Examples
Famous quotes containing the words industrial, provident and/or society:
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