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Financial Services Act 1986
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- UK Public General Acts
- 1986 c. 60
- PART III
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PART IIIFriendly Societies
140Friendly societies
Schedule 11 to this Act shall have effect as respects the regulation of friendly societies.
141Indemnity schemes
(1)Any two or more registered 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 the Chief Registrar of friendly societies or, as the case may be, the Registrar of Friendly Societies for Northern Ireland.
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