The Savings Contract (Amendment) Regulations 1992

• Citation: S.I. 1992/3112
• Sections: 2

Section 1

These Regulations may be cited as the Savings Contract (Amendment) Regulations 1992 and shall come into force on 1st January 1993.

Section 2

The Savings Contracts Regulations 1969 shall be amended;—

(1) in regulation 2(1), by inserting the following definition—

“the adjudicator” means a person appointed under section 84 of the Friendly Societies Act 1992

and by omitting the definition of “Chief Registrar of friendly societies”;

(2) in regulation 18(1) to (3), by subsituting for the words “Chief Regsitrar of friendly societies” and “Chief Registrar” in all the places that they appear the word “adjudicator”;

(3) by subsituting for regulation 18(4) the following new paragraphs—

(4) Section 11 of the National Savings Bank Act 1971 (which empowers the Treasury to direct that fees shall be charged on certain awards made by the adjudicator) shall have effect as if the awards therein mentioned included awards made under this regulation.

(5) Where a dispute of the sort referred to in paragraph (1) above was referred before 1 January 1993 to the Chief Registrar of friendly societies or a deputy appointed by him or (by virtue of the application of these Regulations to Scotland) to the assistant registrar of friendly societies for Scotland, that dispute shall be treated as if it had been referred to the adjudicator and any thing done in relation to such a dispute by the Chief Registrar, any deputy appointed by him or the assistant registrar shall be treated as a thing done by the adjudicator.

(4) by omitting regulation 27(g).