The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 No. 3649

PART 6 ENACTMENTS RELATING TO MUTUAL SOCIETIES

CHAPTER I primary legislation

Friendly Societies Act 1974 (c. 46)

Power of societies to disapply obligation to appoint auditors

186.—(1) Section 32A of the Friendly Societies Act 1974(1) (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(2) In subsection (3) the words “within the meaning of the Banking Act 1987” are repealed.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.”.

(1)

Section 32A was inserted by S.I. 1996/1738 article 10(1) and amended by S.I. 2001/2617, Schedule 3, paragraph 13.