The Friendly Societies (Qualifications of Actuaries No.2) Regulations 1993

• Citation: S.I. 1993/2518
• Sections: 3

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Friendly Societies (Qualifications of Actuaries No. 2) Regulations 1993, and shall come into force on 1st January 1994.

(2) In these Regulations—

“the 1974 Act ” means the Friendly Societies Act 1974 ;

“the 1992 Act ” means the Friendly Societies Act 1992.

Section 2 Prescribed qualifications

(1) The qualifications set out in paragraph (2) below are prescribed under section 44(8) of the 1992 Act.

(2) A person must possess the qualifications set out in subparagraph (a) and, where applicable, (b) below

(a) a fellowship of the Institute of Actuaries or of the Faculty of Actuaries; and

(b) attainment of the age of 30 years, except in the case of an actuary of a registered friendly society who carried out the last valuation of the society under section 41 of the 1974 Act prior to the coming into force of these Regulations.

Section 3 Revocation

These Regulations revoke the Friendly Societies (Qualifications of Actuaries) Regulations 1993 .