(1) Parts 1 to 4, 6 and 8 to 11 do not apply to the following persons when carrying on any of the following activities -
(a) a registered society within the meaning of section 1 of the Co-operative and Community Benefit Societies Act 2014 (meaning of "registered society") [2014 c.14.], when it -
(i) issues withdrawable share capital within the limit set by section 24 of that Act (maximum shareholding in society); or
(ii) accepts deposits from the public within the limit set by section 67(2) of that Act (carrying on of banking by societies);
(b) a society registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 [1969 c.24.], when it -
(i) issues withdrawable share capital within the limit set by section 6 [Section 6 was amended by section 10 of the Credit Unions and Co-operative and Community Benefit Societies Act (Northern Ireland) 2016 (c.16) (N.I.) and by S.R. 1991/375.] of that Act (maximum shareholding in society); or
(ii) accepts deposits from the public
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