(1) An application for the registration of a society under this Act is made by sending the following to the FCA -

(a) an application for registration, signed by -

(i) the society's secretary and 3 of its members, or

(ii) where both or all of its members are registered societies, the secretaries of 2 of those registered societies, and

(b) 2 copies of the society's rules or, if the application is made by electronic means, 1 copy of those rules.

(2) If the FCA is satisfied that the society has complied with the requirements under this Act as to registration, it must -

(a) register the society, and

(b) give the society an acknowledgment of registration bearing the FCA's seal.

(3) A registered society is by virtue of its registration a body corporate by its registered name, with limited liability.

(4) The society may sue and be sued by its registered name.

(5) Registration vests in the society all property for the time being vested in any person in trust for the society.