SCHEDULE 3ENACTMENTS AMENDED

PART IFRIENDLY SOCIETIES

Amendments to the Friendly Societies Act 1992

71

In section 54—

a

in subsections (2), (3) and (7) for the word “Commission”, wherever it appears, there is substituted “Authority”,

b

in subsection (4) for the words from “when” to the end there is substituted—

that the society is to comply with it—

a

immediately on receipt of a final notice in relation to the direction;

b

before the end of such period as may be specified in the direction, beginning with the giving of a final notice in relation to the direction; or

c

on the happening of an event subsequent to the giving of such a notice.

c

for subsection (6) there is substituted—

6

The Authority may by written notice to the society—

a

vary a direction under this section at the request of the society; or

b

revoke a direction under this section.

d

subsection (8) is omitted,

e

in subsection (9)—

i

for the words “Commission shall send to the central office” there is substituted “Authority shall keep”,

ii

at the end of paragraph (b) there is inserted—

ba

of a final notice varying a direction under this section;

iii

the words “and the central office shall keep a copy” are omitted, and

f

at the end of subsection (9) there is inserted—

10

“Final notice” means a final notice given under section 390 of the Financial Services and Markets Act 2000, as applied by section 58A(6) below.