Friendly Societies Act 1992

2 (1) The matters of which a statement required by paragraph 1 above is to give particulars are the following, namely— U.K.

(a) the financial position of the society and that of every other society or person participating in the amalgamation or transfer;

(b) any interest of the members of the committee of management of the society in the amalgamation or transfer;

(c) the compensation or other consideration (if any) proposed to be paid to or in respect of—

(i) the members of the committee of management or other officers of the society; and

(ii) the officers of every other society or person participating in the amalgamation or transfer;

(d) in the case of a transfer, a summary of any actuary’s report which the society is directed to furnish to the [F1 appropriate authority] under section 88 above; and

(e) any other matter which the [F1 appropriate authority] requires in the case of the particular amalgamation or transfer.

(2) No statement shall be sent unless its contents, so far as they concern the matters specified in this paragraph, have been approved by the [F1 appropriate authority].

[F2 (3) The PRA must consult the FCA before approving a statement under sub-paragraph (2).]

Textual Amendments

F1 Words in Sch. 15 para. 2 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(2) (with Sch. 12)

F2 Sch. 15 para. 2(3) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(3) (with Sch. 12)