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:
“Your organization is not a praying institution. It’s a fighting institution. It’s an educational institution right along industrial lines. Pray for the dead and fight like hell for the living!”
—Mother Jones (1830–1930)
“Women have no wilderness in them,
They are provident instead,
Content in the tight hot cell of their hearts
To eat dusty bread.”
—Louise Bogan (1897–1970)
“Has there ever been a society which has died of dissent? Several have died of conformity in our lifetime.”
—Jacob Bronowski (1908–1974)