PART 6ENACTMENTS RELATING TO MUTUAL SOCIETIES

CHAPTER Iprimary legislation

Friendly Societies Act 1974 (c. 46)

Power of societies to disapply obligation to appoint auditors186

1

Section 32A of the Friendly Societies Act 1974130 (power of societies to disapply section 31) is amended as follows.

2

In subsection (3) the words “within the meaning of the Banking Act 1987” are repealed.

3

After that subsection, insert—

3A

In subsection (3) the reference to a deposit must be read with—

a

section 22 of the Financial Services and Markets Act 2000;

b

any relevant order under that section;

c

Schedule 2 to that Act.