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The Financial Services Act 2012 (Mutual Societies) Order 2018

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The Community Benefit Societies (Restriction on Use of Assets) Regulations (Northern Ireland) 2006

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8.—(1) The Community Benefit Societies (Restriction on Use of Assets) Regulations (Northern Ireland) 2006(1) are amended as follows.

(2) In regulation 2(2) (interpretation) for the definition of “Registrar” substitute—

“the Registrar” means the Financial Conduct Authority;.

(3) In the following provisions for “he” substitute “the Registrar”—

(a)in regulation 9 (enforcement notification), paragraph (1);

(b)in regulation 10 (restitution), paragraph (3);

(c)in regulation 11 (removal of officers), paragraph (2);

(d)in regulation 12 (warning notice), paragraph (1); and

(e)in regulation 13 (decision notice), paragraph (1).

(4) In regulations 10(3) and 11(2) for “him” substitute “it”.

(5) In Schedule 2 (application of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 with modifications), in paragraph 2(a), which modifies section 15(1)(c) of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, in the sub-paragraph which is treated as inserted in that section for “on proof to the his” substitute “it is proved to the Registrar’s”.

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