The Friendly Societies (Activities of a Subsidiary) Order 1998

• Citation: S.I. 1998/2328
• Sections: 2

Section 1 Citation and commencement

This Order may be cited as the Friendly Societies (Activities of a Subsidiary) Order 1998 and shall come into force on the 19th October 1998.

Section 2 Variation of Schedule 7

Schedule 7 to the Friendly Societies Act 1992 (which lists the activities which may be carried on by a subsidiary of, or a body jointly controlled by, an incorporated friendly society) is amended by inserting after paragraph 1 the following paragraph–

(1A) The establishment and management, or arranging for the establishment and management, of individual savings accounts; and in this paragraph “individual savings accounts” means plans of a kind referred to in section 333(1A) of the Income and Corporation Taxes Act 1988 .