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

SCHEDULE 5 Amendments of the Friendly Societies Act 1974

25.  In section 111(1)(1) (interpretation)—

(a) omit the definition of “the Authority”; and

(b) at the appropriate places, insert—

““the appropriate authority” means—

(a)

in relation to a society which is a PRA-authorised person, the PRA; and

(b)

in relation to a society which is not a PRA-authorised person, the FCA;”;

““the FCA” means the Financial Conduct Authority;”;

““the PRA” means the Prudential Regulation Authority;”; and

““PRA-authorised person” has the meaning in section 2B of the Financial Services and Markets Act 2000;”.

(1)

Section 111 was amended by Schedule 16 to the Friendly Societies Act 1992 and S.I. 2001/2617.