SCHEDULES
SCHEDULE 18 Mutuals
Part II Friendly Societies: Subsidiaries and Controlled Bodies
Amendment of Schedule 8 to the 1992 Act
14
1
Schedule 8 to the 1992 Act (provisions supplementing section 13) is amended as follows.
2
Omit paragraph 3(2).
3
After paragraph 3 insert—
3A
1
A body is to be treated for the purposes of section 13(9) as having the right to appoint to a directorship if—
a
a person’s appointment to the directorship follows necessarily from his appointment as an officer of that body; or
b
the directorship is held by the body itself.
2
A body (“B”) and some other person (“P”) together are to be treated, for the purposes of section 13(9), as having the right to appoint to a directorship if—
a
P is a body corporate which has directors and a person’s appointment to the directorship follows necessarily from his appointment both as an officer of B and a director of P;
b
P is a body corporate which does not have directors and a person’s appointment to the directorship follows necessarily from his appointment both as an officer of B and as a member of P’s managing body; or
c
the directorship is held jointly by B and P.
3
For the purposes of section 13(9), a right to appoint (or remove) which is exercisable only with the consent or agreement of another person must be left out of account unless no other person has a right to appoint (or remove) in relation to that directorship.
4
Nothing in this paragraph is to be read as restricting the effect of section 13(9).
4
In paragraph 9 (exercise of certain rights under instruction by, or in the interests of, incorporated friendly society) insert at the end “
or in the interests of any body over which the society has joint control
”
.