The Friendly Societies (General Charge and Fees) Regulations 1993

Regulation 3

SCHEDULE 1 GENERAL CHARGE PAYABLE BY SOCIETIES

1.  The sum determined in accordance with this Schedule is the sum resultant from the formula:

A × B,

where

• A = 0.22/100, and

• B = the specified income for the relevant year as determined in accordance with paragraphs 2 to 11 below, except that:

  (a)

  where the resultant sum exceeds £14,000.00, the sum determined is £14,000.00; and

  (b)

  where the resultant sum is less than £150.00, the sum determined is £150.00.

Specified income for the relevant year

2.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form R/FS/AR1, the value of the specified income for that relevant year is the sum of the amounts required to be entered at the following entries of Form R/FS/AR1:

(a) in form B (“BENEFIT AND BENEFIT RESERVE FUNDS”), the entry at line 1 for “Contributions (including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(b) in form D (“MANAGEMENT FUNDS”), the entry at line 1 for “Contributions for management”; and

(c) in form E (“RENT AND INTEREST ACCOUNT”), the entries at:

(i) line 1 for “Rents from land and buildings”; and

(ii) line 7 for “Total interest on investment (2 to 6)”.

3.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.1, the value of the specified income for that relevant year is the sum of the amounts required to be entered at the following entries of Form A.R.1:

(a) in form A (“ ... ... ... ... FUND”), the entry for “Contributions (including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(b) in form C (“ ... ... ... ... FUND”), which is used for a benefit fund, the entry for “Contributions (including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(c) in form D (“MANAGEMENT FUND”), the entry for “Contributions for management”; and

(d) in form E (“RENT AND INTEREST ALLOCATION ACCOUNT”), the entries for:

(i) “Total”;

(ii) “Savings Bank Interest”; and

(iii) “Other income (to be specified)”,

less any amounts entered in form E (“RENT AND INTEREST ALLOCATION ACCOUNT”) at the entry for “Other Income (to be specified)” that are not income from interest on investments.

4.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.1A, the value of the specified income for that relevant year is the sum of the amounts required to be entered at the following entries of Form A.R.1A:

(a) in form A (“ ... ... ... ... FUND”), the entry for “Contributions (including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(b) in form C (“ ... ... ... ... FUND”), which is used for a benefit fund, the entry for “Contributions (including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(c) in form D (“MANAGEMENT FUND”), the entry for “Contributions for management”; and

(d) in form E (“RENT AND INTEREST ALLOCATION ACCOUNT”), the entry at the last line,

less any amounts required to be entered in form E (“RENT AND INTEREST ALLOCATION ACCOUNT”) at the entry for “Other Income (to be specified)” that are not income from interest on investments.

5.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.1B, the value of the specified income for that relevant year is the sum of the following amounts required to be entered at the following entries in Form A.R.1B:

(a) in form A (“SICK AND DEATH FUNDS”), the entry for “Total Contributions and Levies for Benefits (£ )”;

(b) in forms D (“DISTRESS RELIEF FUND”), E (“ ... ... ... ... FUND”), and F (“ ... ... ... ... FUND”), which are used for a benefit fund, the entries for “Contributions”;

(c) in form H (“MANAGEMENT FUND”), the entry for “Contributions for Management”; and

(d) in form K (“RENT AND INTEREST ALLOCATION ACCOUNT”), the entries for:

(i) “Total”;

(ii) “Savings Bank Interest”; and

(iii) “Other Income (to be specified)”,

less the amounts required to be entered at the following entries:

(e) in form A (“SICK AND DEATH FUNDS”), the entry for “Levies for Benefits (£ )”; and

(f) in form K (“RENT AND INTEREST ALLOCATION ACCOUNT”), the entry for “Other Income (to be specified)” that is not income from interest on investments.

6.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.1C, the value of the specified income for that relevant year is the sum of the following amounts required to be entered at the following entries in Form A.R.1C:

(a) in form A (“ ... ... ... ... FUND”), the entry for “Contributions (Including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(b) in form C (“ ... ... ... ... FUND”), which is used for a benefit fund, the entry for “Contributions (Including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(c) in form D (“MANAGEMENT FUND”), the entry for “Contributions for Management”; and

(d) in form E (“RENT AND INTEREST ALLOCATION ACCOUNT”), the entries for:

(i) “Total”;

(ii) “Savings Bank Interest”; and

(iii) “Other income (to be specified)”,

less any amounts in form E (“RENT AND INTEREST ALLOCATION ACCOUNT”) entered at the entry for “Other Income (to be specified)” that are not income from interest on investments.

7.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.5, the value of the specified income for that relevant year is the sum of the following amounts required to be entered at the following entries in form A (“GENERAL ACCOUNT”) of Form A.R.5:

(a) the entry for “Contributions For Management”;

(b) the entry for “Contributions For Benefits (if for various benefits, each to be stated separately)”;

(c) the entry for “interest on Investments (gross)”; and

(d) the entry for “Other Income (to be specified)”,

less any amounts entered at the entry for “Other Income (to be specified)” that is not income from interest on investments.

8.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.10, the value of the specified income for that relevant year is the sum of the amounts required to be entered at the following entries in Form A.R.10:

(a) in form A (“INDUSTRIAL ASSURANCE FUND”), the entry for “Totals” of the gross amount of premiums of assurance income;

(b) in form B (“OTHER ASSURANCE FUNDS”), the entry for “Totals” of the gross amount of premiums of assurance income; and

(c) in form D (“RENT AND INTEREST ALLOCATION ACCOUNT”), the entries for:

(i) “Total”; and

(ii) “Other Income (to be specified)”,

less any amounts required to be entered in form D (“RENT AND INTEREST ALLOCATION ACCOUNT”) at the entry for “Other Income (to be specified)” that are not income from interest on investments.

9.  In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.10A, the value of the specified income for that relevant year is the sum of the amounts required to be entered at the following entries in Form A.R.10A:

(a) in form A (“INDUSTRIAL ASSURANCE FUND”), the entry for “Totals” of the gross amount of premiums of assurance income;

(b) in form B (“OTHER ASSURANCE FUNDS”), the entry for “Totals” of the gross amount of premiums of assurance income; and

(c) in form D (“RENT AND INTEREST ALLOCATION ACCOUNT”), the entry at the last line,

less any amounts in form D (“RENT AND INTEREST ALLOCATION ACCOUNT”) entered at the entry for “Other Income (to be specified)” that are not income from interest on investments.

10.  Where a friendly society, in respect of a relevant year, sends more than one of any of the forms referred to paragraphs (2) to (7) above to the Chief Registrar, in respect of that friendly society the value of the specified income for that relevant year is the sum of the amounts entered in all the forms so sent and specified in paragraphs (2) to (7) above.

11.  Notwithstanding paragraphs (2) to (7) above, any amount which is an amount transferred from another fund or account shall not be included in the specified income of a friendly society.