(1) A registered society may by special resolution determine to -
(a) convert itself into a company,
(b) amalgamate with a company, or
(c) transfer its engagements to a company.
In this section "company" means a company under the Companies Acts.
(2) A registered society's registration under this Act becomes void and (subject to section 126) must be cancelled by the FCA if the society -
(a) is registered as a company,
(b) amalgamates with a company, or
(c) transfers all its engagements to a company.
(3) Section 113 contains provisions about special resolutions under this section.
(4) Section 114 contains further provisions about the conversion of a society into a company.
(5) An amalgamation or transfer of engagements does not prejudice any right of a creditor of the society.