The Financial Services Act 2012 (Mutual Societies) Order 2013 No. 496

SCHEDULE 5 Amendments of the Friendly Societies Act 1974

18.—(1) Section 95(1) (dissolution by award) is amended as follows.

(2) In subsections (1), (3), (4) and (6), for “Authority”, in each place, substitute “appropriate authority”.

(3) After subsection (3), insert—

“(3A) The PRA must consult the FCA before making an award and direction under subsection (3).”.

(1)

Section 95 was amended by paragraph 39 of Schedule 16 to the Friendly Societies Act 1992 and S.I. 2001/2617.