The Deregulation (Friendly Societies Act 1992) Order 1996

• Citation: S.I. 1996/1188
• Sections: 8

Section 1 Title and commencement

This Order may be cited as the Deregulation (Friendly Societies Act 1992) Order 1996 and shall come into force on 1st August 1996.

Section 2 Interpretation

In this Order “the 1992 Act ” means the Friendly Societies Act 1992.

Section 3 Powers of group of an incorporated friendly society

In section 7(5) of the 1992 Act (purposes and powers of an incorporated friendly society) after “fall” there are inserted the words “within section 10 below or”.

Section 4 Five yearly statement of long term business

In section 46 of the 1992 Act (annual investigation into condition of certain societies)—

(a) subsection (6); and

(b) in subsection (7), the words “or statement”,

are repealed.

Section 5 Submission of altered rules

In section 93(5)(b) of the 1992 Act (number of copies of altered rules to be sent to the central office) for the word “four” there is substituted the word “three”.

Section 6 Power to modify regulations

In section 103 of the 1992 Act (power to modify Parts V and VI of the Act in relation to particular friendly societies), after subsection (3) there are inserted the following subsections—

(4) The Commission may, on the application or with the consent of a friendly society, direct in relation to any provision of regulations made for the purposes of Part V or VI of this Act that the provision shall not apply to the society, or shall apply to it with such modifications as may be specified in the direction.

(5) A direction under subsection (4) above may be subject to conditions.

(6) A direction under subsection (4) above may be revoked by the Commission at any time; and the Commission may at any time vary any such direction on the application or with the consent of the society to which it applies.

(7) Where the Commission—

(a) makes a direction under subsection (4) above, or

(b) revokes or varies such a direction,

it shall cause the direction, variation or revocation to be entered on a register kept by it for the purposes of this subsection.

(8) The register kept for the purposes of subsection (7) above shall be available for inspection on reasonable notice by members of the public.

(9) The Commission shall provide to the central office a copy of—

(a) any direction made by it under subsection (4) above, and

(b) any revocation or variation of any such direction,

and the central office shall keep the copy in the public file of the society to which it relates.

Section 7 Name of incorporated collecting society

Paragraph 9(2) of Schedule 3 to the 1992 Act is repealed.

Section 8 Confirmation by the Friendly Societies Commission

In Schedule 15 to the 1992 Act (supplementary provisions about amalgamations, transfers of engagements and conversion) in paragraph 5 (applications to the Commission for confirmation), after sub-paragraph (2) there are inserted the following sub-paragraphs—

(3) The Commission may, on the application or with the consent of a friendly society, direct in relation to any provision of regulations made for the purposes of sub-paragraph (1) above that the provisions shall not apply to the society, or shall apply to it with such modifications as may be specified in the direction.

(4) A direction under sub-paragraph (3) above may be subject to conditions.

(5) A direction under sub-paragraph (3) above may be revoked by the Commission at any time; and the Commission may at any time vary any such direction on the application or with the consent of the society to which it applies.

(6) Where the Commission—

(a) makes a direction under subsection (3) above, or

(b) revokes or varies such a direction,

it shall cause the direction, variation or revocation to be entered on a register kept by it for the purposes of this subsection.

(7) The register kept for the purposes of subsection (6) above shall be available for inspection on reasonable notice by members of the public.

(8) The Commission shall provide to the central office a copy of—

(a) any direction made by it under subsection (3) above, and

(b) any revocation or variation of any such direction,

and the central office shall keep the copy in the public file of the society to which it relates.