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Citation and commencement

1.  This Order may be cited as the Friendly and Industrial and Provident Societies Act 1968 (Audit Exemption) (Amendment) Order 2006 and comes into force on 6th April 2006.

Amendment of the Friendly and Industrial and Provident Societies Act 1968

2.—(1) Section 4A of the Friendly and Industrial and Provident Societies Act 1968(1) (power of societies to disapply section 4) is amended as follows.

(2) In subsection (1)(a), for “£1,400,000” substitute “£2,800,000”.

(3) In subsection (1)(b), for “£350,000” substitute “£5,600,000”.

Transitional provision

3.  Article 2 has effect in relation to any year of account ending two months or more after the date on which this Order comes into force.

Signatory text

Gillian Merron

Tom Watson

Two of the Lords Commissioners of Her Majesty’s Treasury

7th February 2006