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.