| Act of Parliament | |
.svg) | |
| Long title | An Act to legalize the Formation of Industrial and Provident Societies. |
|---|---|
| Citation | 15 & 16 Vict. c. 31 |
| Territorial extent | United Kingdom |
| Dates | |
| Royal assent | 30 June 1852 |
| Commencement | 30 June 1852[b] |
| Repealed | 7 August 1862 |
| Other legislation | |
| Amended by | |
| Repealed by | Industrial and Provident Societies Act 1862 |
| Relates to | |
Status: Repealed | |
| History of passage through Parliament | |
| Records of Parliamentary debate relating to the statute fromHansard | |
| Text of statute as originally enacted | |
TheIndustrial and Provident Societies Partnership Act 1852 (15 & 16 Vict. c. 31), also known (somewhat unjustifiably) asSlaney's Act,[1] that provided the legislation basis forindustrial and provident societies in theUnited Kingdom. The act was a significant legislative landmark in the establishment of theco-operative movement in the United Kingdom.
Prior to 1852, co-operative societies had protected their members capital by registering under theFriendly Societies Act 1846.[2] However the act specified protection only for purchases, not for sales; so the co-operative societies were forced to use a legal fiction of dubious merit to cover themselves when selling, and it was this that brought home the need for a new statute to regularise their position.[3]
John Ludlow played an important role in promoting the act.[4] He had initially proposed a comparable Bill for Whig passage in 1851; but was blocked byHenry Labouchere at the Board of Trade.[5] The following yearDisraeli persuaded his colleagues that promoting such social reform would be politically advantageous for the Tories, as well as offering a route for working-class energies to be incorporated into society;[6] and the Bill passed into law.
The act not only provided a legal framework for the co-operative movement, but also specified much of its future direction - for example laying down the principle that up to one-third of profits could be shared among members, the rest being used to build up the business.[7]
The act was subsequently amended by theIndustrial and Provident Societies Act 1854 (17 & 18 Vict. c. 25) and theIndustrial and Provident Societies Act 1856 (19 & 20 Vict. c. 40) to improve legal proceedings concerning societies formed under the act.
The whole act was repealed by theIndustrial and Provident Societies Act 1862 (25 & 26 Vict. c. 87).
