Loomio
Fri 23 Oct 2020 11:24AM

Mutuals Public Register

JAM Jana "Small Axe" Mills Public Seen by 64

Hi Guys,

I was on a call yesterday when someone mentioned the mutuals public register which I've never heard of. People from the coop party were saying if you're not on here you're not a coop!

https://mutuals.fca.org.uk/

Should all coops be on there? we're not! We hadn't even heard of it!

When we registered with help from Tower Hamlets Coop something or other they just said register as a Company Ltd by guarantee.

I looked up some of you guys (not to snoop just to check I wasn't totally nuts!) and realised there is a mixed bag some of us are some aren't.

Wondering if anyone else has faced this or made a decision one way or another?

In ignorance,

Jana

JMF

James Mead (Go Free Range) Sat 24 Oct 2020 11:19AM

Hi Jana. You might have better luck posting this question in the CoTech forums. As far as I know, Loomio is only used for decision-making.

MSC

Mark Simmonds (Co-op Culture & Platform 6) Sat 24 Oct 2020 11:29AM

The statement that you need to be on the FCA register to be a co-op is incorrect.

As it says on the link above, the FCA mutuals register is a register of just a few different legal forms:

  • Co-operative Societies (which have to be a co-operative)

  • Community Benefit Societies (which may or may not be a co-operative)

  • Credit unions

  • Friendly societies

  • Building Societies

It is also possible to register a co-op as a Company, an LLP, a CIC or even to be an unincorporated co-op without registering anywhere.

Think of it like your legal form is a jam jar into which you pour your organisational jam - co-op, social enterprise, tech. co-op etc. You can put co-op jam into many different jars.

SWS

Sion Whellens (Principle Six/Calverts) Sat 24 Oct 2020 1:41PM

What he said!

JAM

Jana "Small Axe" Mills Sat 24 Oct 2020 2:33PM

Amazing thanks for the reassurance Mark and Sion. That's so good to know and also sorry for being dim and posting this on the wrong platform but thanks in advance for forgiving me!!!

MSC

Mark Simmonds (Co-op Culture & Platform 6) Sat 24 Oct 2020 6:00PM

I don't visit the forum that often, so good job you did.