Schedule 11 to this Act shall have effect as respects the regulation of friendly societies.
(1)Any two or more registered friendly societies [F1or, until the date on which section 97 of the Friendly Societies Act 1992 comes into force, any two or more friendly societies] may, notwithstanding any provision to the contrary in their rules, enter into arrangements for the purpose of making funds available to meet losses incurred by any society which is a party to the arrangements or by the members of any such society by virtue of their membership of it.
(2)No such arrangements shall come into force unless they have been approved by [F2the Friendly Societies Commission].
Textual Amendments
F1Words in s. 141(1) inserted (1.5.1993) by S.I. 1993/932, reg.6.
F2Words in s. 141(2) substituted (1.2.1993 for specified purposes and 28.4.1993 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. I para. 3 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 4; S.I. 1993/1186, art. 2(2), Sch. 2.