SCHEDULES

SCHEDULE 18 Mutuals

Part II Friendly Societies: Subsidiaries and Controlled Bodies

Consequential amendments

15

1

Section 52 of the 1992 Act is amended as follows.

2

In subsection (2), omit paragraph (d).

3

In subsection (3), for “(4) below” substitute “ (2) ”.

4

For subsection (4) substitute—

4

A court may not make an order under subsection (5) unless it is satisfied that one or more of the conditions mentioned in subsection (2) are satisfied.

5

In subsection (5), omit the words from “or, where” to the end.