Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to support the introduction of statutory asset locks within the mutual enterprise sector.

The potential use of statutory asset locks for mutuals forms part of the Law Commission’s reviews of the Friendly Societies Acts 1974 and 1992, and the Co-operatives and Community Benefit Societies Act 2014.

The Commission’s report on the Friendly Societies Acts was published on 10 September 2026. The Commission did not recommend the introduction of an asset-locking mechanism for friendly societies, although it did recommend that the Government review the issue of asset protection in friendly societies. The Government will carefully consider the Commission’s report.

The Commission’s report on the Co-operatives and Community Benefit Societies Act is expected to be published early next year, and the Government looks forward to reviewing the Commission’s recommendations.