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Financial Services and Markets Act 2000

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This is the original version (as it was originally enacted).

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15(1)Section 52 of the 1992 Act is amended as follows.

(2)In subsection (2), omit paragraph (d).

(3)In subsection (3), for “(4) below” substitute “(2)”.

(4)For subsection (4) substitute—

(4)A court may not make an order under subsection (5) unless it is satisfied that one or more of the conditions mentioned in subsection (2) are satisfied.

(5)In subsection (5), omit the words from “or, where” to the end.

References in other enactments

16References in any provision of, or made under, any enactment to subsidiaries of, or bodies jointly controlled by, an incorporated friendly society are to be read as including references to bodies which are such subsidiaries or bodies as a result of any provision of this Part of this Schedule.

Part IIIBuilding Societies
The Building Societies Act 1986 (c. 53)

17Omit section 9 (initial authorisation to raise funds and borrow money).

18Omit Schedule 3 (supplementary provisions about authorisation).

Part IVIndustrial and Provident Societies
The Industrial and Provident Societies Act 1965 (c. 12)

19Omit section 8 (provision for separate registration areas for Scotland and for England, Wales and the Channel Islands).

20Omit section 70 (scale of fees to be paid in respect of transactions and inspection of documents).

Part VCredit Unions
The Credit Unions Act 1979 (c. 34)

21In section 6 (minimum and maximum number of members), omit subsections (2) to (6).

22In section 11 (loans), omit subsections (2) and (6).

23Omit sections 11B (loans approved by credit unions), 11C (grant of certificates of approval) and 11D (withdrawal of certificates of approval).

24In section 12, omit subsections (4) and (5).

25In section 14, omit subsections (2), (3), (5) and (6).

26In section 28 (offences), omit subsection (2).

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