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The Friendly Societies Act 1992 (Amendment) Regulations 1994

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  1. Introductory Text

  2. PART I GENERAL

    1. 1.Citation, commencement and extent

    2. 2.Interpretation

  3. PART II FRIENDLY SOCIETIES COMMISSION

    1. 3.Functions of Commission

  4. PART III AUTHORISATION OF FRIENDLY SOCIETIES

    1. Authorisation to carry on business

      1. 4.Grant of authorisation by Commission: general

      2. 5.Grant of unconditional or conditional authorisation

    2. Powers of Commission in relation to authorised societies

      1. 6.Withdrawal of authorisation in respect of new business

      2. 7.Withdrawal of authorisation to carry on insurance business

  5. PART IV REGULATION OF BUSINESS

    1. Financial resources

      1. 8.Margins of solvency

      2. 9.Adequacy of assets

      3. 10.Adequacy of premiums in respect of long term insurance

    2. Criteria of prudent management

      1. 11.Criteria of prudent management

    3. Powers of Commission

      1. 12.Application to court

      2. 13.Prohibition on disposal of assets

      3. 14.Supervision of controllers

    4. Business etc. in other EEA States

      1. 15.Recognition of societies in accordance with insurance Directives

      2. 16.Notification by Commission of measures taken by it

    5. Information

      1. 17.Powers to obtain information and documents etc.

      2. 18.Exceptions from restrictions on disclosure

    6. Inspections etc.

      1. 19.Investigations on behalf of Commission

      2. 20.Inspections: supplementary provision

  6. PART V CONDUCT OF BUSINESS

    1. 21.Information for members

    2. 22.Statutory notice

    3. 23.Right to withdraw from transaction

    4. 24.Service of notice of cancellation

  7. PART VI TRANSFERS OF ENGAGEMENTS

    1. 25.Confirmation by Commission

    2. 26.Actuary’s report as to margin of solvency

    3. 27.Actuary’s report on transfer of long term business

    4. 28.Issue of certificates by Commission

  8. PART VII SUPPLEMENTAL

    1. 29.Insurance business etc.

    2. 30.General interpretation

    3. 31.Meaning of “associate”

    4. 32.Meaning of “main agent”

  9. Signature

  10. SCHEDULES

    1. SCHEDULE 1

      SUPERVISION OF CONTROLLERS OF FRIENDLY SOCIETIES TO WHICH SECTION 37(2) OR (3) APPLIES

    2. SCHEDULE 2

      RECOGNITION IN OTHER EEA STATES OF FRIENDLY SOCIETIES TO WHICH SECTION 37(2) OR (3) APPLIES

    3. SCHEDULE 3

      INFORMATION FOR MEMBERS OF FRIENDLY SOCIETIES TO WHICH SECTION 37(2) OR (3) APPLIES

    4. SCHEDULE 4

      CONFIRMATION BY COMMISSION OF TRANSFERS OF ENGAGEMENTS

  11. Explanatory Note

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