Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(c) (with art. 292)

Sch. 11 amended (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40) s. 98, Sch. 18 Pt. II para. 10; S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Sch. 11 para. 28: power to transfer functions exercised, and certain functions transferred, by S.R. 1987/228, arts. 2, 3

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(2)(3) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 para. 28 inserted (1.4.1991) by Companies Act 1989 (c. 40, SIF 27), s. 193(4); S.I. 1991/488, art. 2(4)(with art. 4)

Word in Sch. 11 para. 28(6) substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para.17 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Sch. 11 para. 29 substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 37

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(2)(3) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 para. 29(1)(a)(b) substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para.18 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(2)(3) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 38

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 39

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(2)(3) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(2)(3) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

1868 c. 100.

Sch. 11 para. 34 substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 40

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(2)(3) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 41

Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 41

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(2)(3) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Words in Sch. 11 para. 37(1) substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 20(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Sch. 11 para. 37(1A) inserted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 20(2) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

Sch. 11 para. 31A inserted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para.19 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.

http://www.legislation.gov.uk/ukpga/1986/60/schedule/11/part/IVFinancial Services Act 1986 (Repealed)An Act to regulate the carrying on of investment business; to make related provision with respect to insurance business and business carried on by friendly societies; to make new provision with respect to the official listing of securities, offers of unlisted securities, takeover offers and insider dealing; to make provision as to the disclosure of information obtained under enactments relating to fair trading, banking, companies and insurance; to make provision for securing reciprocity with other countries in respect of facilities for the provision of financial services; and for connected purposes.1986-11-07texttext/xmlenStatute Law Database2012-06-222001-12-01 SCHEDULESSCHEDULE 11 Friendly SocietiesPart IV Transfer of Registrar’s Functions281

If it appears to the Commission

a

that a body corporate has been established which is able and willing to discharge all or any of the functions to which this paragraph applies; and

b

that the requirements of Schedule 7 to this Act (as it has effect by virtue of sub-paragraph (3) below) are satisfied in the case of that body,

the Commission may, with the consent of the Secretary of State and subject to the following provisions of this paragraph and paragraphs 29 and 30 below, make an order transferring all or any of those functions to that body.

2

The body to which functions are transferred by the first order made under sub-paragraph (1) above shall be the body known as The Securities and Investments Board Limited if the Secretary of State consents to the making of the order and it appears to the Commission that that body is able and willing to discharge those functions, that the requirements mentioned in paragraph (b) of that sub-paragraph are satisfied in the case of that body and that the Commission is not precluded from making the order by the following provisions of this paragraph or paragraph 29 or 30 below.

3

For the purposes of sub-paragraph (1) above Schedule 7 shall have effect as if—

a

for references to a designated agency there were substituted references to a transferee body; and

b

for the reference to complaints in paragraph 4 there were substituted a reference to complaints arising out of the conduct by regulated friendly societies of regulated business.

4

An order under sub-paragraph (1) above is in this Act referred to as a transfer order and a body to which functions are transferred by a transfer order is in this Act referred to as a transferee body.

5

Subject to sub-paragraphs (6) and (8) below, this paragraph applies to the functions of the Commission under section 113(3) of this Act and paragraph 38 below and any functions conferred on the Commission by virtue of paragraphs 2 to 25 (except paragraph 22A) above other than the powers under sections 66 and 68 of this Act and, so far as applicable to assets belonging to a regulated friendly society, the power under section 67 of this Act.

6

If the Commission transfers its functions under Chapter VI of Part I of this Act they shall not be exercisable by the transferee body if the only reasons by virtue of which it appears to the body as mentioned in paragraph 23(2) above relate to the sufficiency of the funds of the society to meet existing claims or of the rates of contribution to cover benefits assured.

7

Any function may be transferred by an order under this paragraph either wholly or in part and a function may be transferred in respect of all societies or only in respect of such societies as are specified in the order.

8

A transfer order—

a

may reserve to the Commission the function of revoking a recognition order in respect of a self-regulating organisation for friendly societies on the ground that the requirement mentioned in paragraph 4(2) above is not satisfied; and

b

shall not transfer to a transferee body the function of revoking any such recognition order on the ground that the organisation has contravened the provisions of paragraph 9 above.

9

No transfer order shall be made unless a draft of it has been laid before and approved by a resolution of each House of Parliament.

291

The Commission shall not make a transfer order transferring any legislative functions to a transferee body unless—

a

the body has furnished the Commission and the Secretary of State with a copy of the instruments the body proposes to issue or make in the exercise of those functions, and

b

the Commission and the Secretary of State are both satisfied that those instruments will—

i

afford investors an adequate level of protection,

ii

in the case of provisions corresponding to those mentioned in Schedule 8 to this Act, comply with the principles set out in that Schedule, and

iii

take proper account of the supervision of friendly societies by the Commission under the enactments relating to friendly societies.

2

In this paragraph “legislative functions” means the functions of issuing or making statements of principle, rules, regulations or codes of practice.

301

The Commission shall also before making a transfer order transferring any functions to a transferee body require it to furnish the Commission and the Secretary of State with a copy of any guidance intended to have continuing effect which it proposes to issue in writing or other legible form and they may take such guidance into account in determining whether they are satisfied as mentioned in paragraph 29(b) above.

2

In this Act references to guidance issued by a transferee body are references to guidance issued or any recommendation made by it which is issued or made to regulated friendly societies or self-regulating organisations for friendly societies generally or to any class of regulated friendly societies or self-regulating organisations for friendly societies, being societies which are or may be subject to statements of principle, rules, regulations or codes of practice issued or made by it or organisations which are or may be recognised by it in the exercise of its functions under a transfer order.

311

Subject to the provisions of this paragraph, sections 115, 116, 117(3) to (5) and 118 of this Act shall apply in relation to the transfer of functions under paragraph 28 above as they apply in relation to the transfer of functions under section 114 of this Act.

2

Subject to sub-paragraphs (5) and (6)(b) below, for references in those provisions to the Secretary of State, a designated agency and a delegation order there shall be substituted respectively references to the Commission, a transferee body and a transfer order.

3

The Commission may not exercise the powers conferred by subsections (1) and (2) of section 115 except with the consent of the Secretary of State.

4

In subsection (3) of section 115 for the reference to Schedule 7 to this Act there shall be substituted a reference to that Schedule as it has effect by virtue of paragraph 28(3) above and in subsection (5) of that section for the reference to section 114(9)(b) of this Act there shall be substituted a reference to paragraph 29(b) above.

5

Section 118(3)(b) shall have effect as if the reference to any provision applying to the Secretary of State were a reference to any provision applying to the Secretary of State or the Commission.

6

In Schedule 9 to this Act—

a

paragraph 1(2) and (3) shall be omitted;

b

paragraph 4 shall have effect as if the references to the Secretary of State were references to the Secretary of State and the Commission;

c

paragraph 5 shall have effect as if the reference to section 205A were a reference to paragraph 45(1) and (3) below;

d

paragraph 12(3) shall have effect as if the reference to section 114(9) were a reference to paragraph 29 above.

7

The power mentioned in paragraph 2(3) of Schedule 9 to this Act shall not be exercisable on the ground that the company has ceased to be a designated agency or, as the case may be, a transferee body if the company remains a transferee body or, as the case may be, a designated agency.

31A1

Where any functions under this Act are for the time being exercisable by a transferee body the Commission shall, before issuing an authorisation under section 32 of the Friendly Societies Act 1992 to a friendly society which is carrying on or proposes to carry on in the United Kingdom insurance business or non-insurance business which is investment business—

a

seek the advice of the transferee body with respect to any matters which are relevant to those functions of the body and relate to the society, its proposed business or persons who are or will be, within the meaning of the Friendly Societies Act 1992, members of the committee of management or other officers of the society; and

b

take into account any advice on those matters given to the Commission by the transferee body before the application is decided.

2

In sub-paragraph (1) above—

a

insurance business” has the meaning given by section 117(1) of the Friendly Societies Act 1992; and

b

non-insurance business” has the meaning given by section 119(1) of that Act.

3

The Commission may for the purpose of obtaining the advice of a transferee body under sub-paragraph (1) above furnish it with any information obtained by the Commission in connection with the application.

32

A transferee body shall at least once in each year for which the transfer order is in force make a report to the Commission on the discharge of the functions transferred to it by the order and on such other matters as the order may require and the Commission shall send a copy of each report received by the Commission under this paragraph to the Secretary of State who shall lay copies of the report before Parliament.

331

This paragraph applies where the function of making or revoking a recognition order in respect of a self-regulating organisation for friendly societies is exercisable by a transferee body.

2

Paragraph 3(2) above shall have effect as if the first reference to the Secretary of State included a reference to the Commission.

3

The transferee body shall not regard the requirement mentioned in paragraph 4(2) as satisfied unless the Commission has certified that the Commission also regards it as satisfied.

4

A transferee body shall send the Commission and the Secretary of State a copy of any notice received by it under paragraph 8(6) above.

5

Where the Secretary of State exercises any of the powers conferred by paragraph 10(2) above in relation to an organisation the Commission shall direct the transferee body to take the appropriate action in relation to that organisation and such a direction shall, on the application of the Commission, be enforceable by mandamus or, in Scotland, by an order for specific performance under section 91 of the Court of Session Act 1868.

341

A transferee body to which the Commission has transferred any legislative functions may exercise those functions without the consent of the Secretary of State.

2

In this paragraph “legislative functions” means the functions of issuing or making statements of principle, rules, regulations or codes of practice.

351

A transferee body shall not impose any prohibition or requirement under section 65 or 67 of this Act on a regulated friendly society or vary any such prohibition or requirement unless it has given reasonable notice of its intention to do so to the Commission and informed the Commission

a

of the manner in which and the date on or after which it intends to exercise the power; and

b

in the case of a proposal to impose a prohibition or requirement, on which of the grounds specified in paragraph 23(2) above it proposes to act and its reasons for considering that the ground in question exists and that it is necessary to impose the prohibition or requirement.

2

A transferee body shall not exercise any power to which sub-paragraph (1) above applies if before the date given in the notice in pursuance of sub-paragraph (1)(a) above the Commission has served on it a notice in writing directing it not to do so; and the Commission may serve such a notice if the Commission considers it is desirable for protecting members or potential members of the regulated friendly society against the risk that it may be unable to meet its liabilities or to fulfil the reasonable expectations of its members or potential members.

361

The Secretary of State shall not consent to the making of an order by the Commission under paragraph 28 above transferring any functions to a transferee body unless he is satisfied that any statements of principle, rules, regulations, codes of practice, guidance and recommendations of which copies are furnished to him under paragraphs 29(a) and 30(1) above do not have, and are not intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition or, if they have or are intended or likely to have that effect to any significant extent, that the effect is not greater than is necessary for the protection of investors.

2

Section 121(2) and (4) and sections 122 to 128 above shall have effect in relation to transferee bodies and transfer orders as they have effect in relation to designated agencies and designation orders but subject to the following modifications.

3

Those provisions shall have effect as if the powers exercisable under section 121(3) were—

a

to make an order transferring back to the Commission all or any of the functions transferred to the transferee body by a transfer order; or

b

to direct the Commission to direct the transferee body to take specified steps for the purpose of securing that the statements of principle, rules, regulations, codes of practice, guidance or practices in question do not have the effect mentioned in sub-paragraph (1) above.

4

No order shall be made by virtue of sub-paragraph (3) above unless a draft of it has been laid before and approved by a resolution of each House of Parliament.

5

For the decisions referred to in section 122(1) there shall be substituted a reference to the Secretary of State’s decision whether he is precluded by sub-paragraph (1) above from giving his consent to the making of a transfer order.

6

Section 128 shall apply as if—

a

the powers referred to in subsection (1) of that section included the power conferred by sub-paragraph (3)(b) above; and

b

the references to Chapter XIV of Part I included references to this paragraph.

371

If a transferee body has reasonable grounds for believing that any regulated friendly society has failed to comply with an obligation to which it is subject by virtue of this Act it shall forthwith give notice of that fact to the Commission so that the Commission can take it into consideration in deciding whether to exercise in relation to the society any of the relevant powers.

1A

In sub-paragraph (1) above “the relevant powers” means those powers specified in paragraph 26(2).

2

A notice under sub-paragraph (1) above shall contain particulars of the obligation in question and of the transferee body’s reasons for considering that the society has failed to satisfy that obligation.

3

A transferee body need not give a notice under sub-paragraph (1) above in respect of any matter unless it considers that that matter (either alone or in conjunction with other matters) would justify the withdrawal of authorisation under section 28 of this Act in the case of a person to whom that provision applies.

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<destination href="#schedule-11-paragraph-31-5"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51161">
<source href="#c1521572"/>
<destination href="#schedule-11-paragraph-31-6-b"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51171">
<source href="#c1521576"/>
<destination href="#schedule-11-paragraph-31-6-c"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51755">
<source href="#c1521577"/>
<destination href="#schedule-11-paragraph-31A"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51211">
<source href="#c1521578"/>
<destination href="#schedule-11-paragraph-32"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51215">
<source href="#c1521578"/>
<destination href="#schedule-11-paragraph-32"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51219">
<source href="#c1521580"/>
<destination href="#schedule-11-paragraph-32"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51287">
<source href="#c1521582"/>
<destination href="#schedule-11-paragraph-33-2"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51297">
<source href="#c1521582"/>
<destination href="#schedule-11-paragraph-33-3"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51301">
<source href="#c1521584"/>
<destination href="#schedule-11-paragraph-33-3"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51311">
<source href="#c1521582"/>
<destination href="#schedule-11-paragraph-33-4"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51321">
<source href="#c1521582"/>
<destination href="#schedule-11-paragraph-33-5"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51325">
<source href="#c1521582"/>
<destination href="#schedule-11-paragraph-33-5"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51366">
<source href="#c1521590"/>
<destination href="#schedule-11-paragraph-34"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51376">
<source href="#c1521591"/>
<destination href="#schedule-11-paragraph-34-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51440">
<source href="#c1521592"/>
<destination href="#schedule-11-paragraph-35-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51444">
<source href="#c1521593"/>
<destination href="#schedule-11-paragraph-35-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51466">
<source href="#c1521592"/>
<destination href="#schedule-11-paragraph-35-2"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51470">
<source href="#c1521592"/>
<destination href="#schedule-11-paragraph-35-2"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51474">
<source href="#c1521593"/>
<destination href="#schedule-11-paragraph-35-2"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51572">
<source href="#c1521599"/>
<destination href="#schedule-11-paragraph-36-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51576">
<source href="#c1521600"/>
<destination href="#schedule-11-paragraph-36-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51598">
<source href="#c1521599"/>
<destination href="#schedule-11-paragraph-36-3-a"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51608">
<source href="#c1521599"/>
<destination href="#schedule-11-paragraph-36-3-b"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51612">
<source href="#c1521603"/>
<destination href="#schedule-11-paragraph-36-3-b"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51694">
<source href="#c1521606"/>
<destination href="#schedule-11-paragraph-37-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51698">
<source href="#c1521607"/>
<destination href="#schedule-11-paragraph-37-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51702">
<source href="#c1521608"/>
<destination href="#schedule-11-paragraph-37-1"/>
</textualMod>
<textualMod type="insertion" eId="mod-d30p51706">
<source href="#c1521609"/>
<destination href="#schedule-11-paragraph-37-1A"/>
</textualMod>
</passiveModifications>
<restrictions source="#source">
<restriction refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#d4e100" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-28" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-29" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-30" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-31" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-31A" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-32" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-33" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-34" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-35" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-36" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-paragraph-37" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11" refersTo="#e+w+s+ni" type="jurisdiction"/>
<restriction href="#schedule-11-part-IV" refersTo="#e+w+s+ni" type="jurisdiction"/>
</restrictions>
</analysis>
<temporalData source="#source">
<temporalGroup eId="period1">
<timeInterval end="#effective-date-3" refersTo="#period-concept1"/>
</temporalGroup>
<temporalGroup eId="period2">
<timeInterval start="#effective-date-1" end="#effective-date-3" refersTo="#period-concept2"/>
</temporalGroup>
<temporalGroup eId="period3">
<timeInterval start="#effective-date-2" end="#effective-date-3" refersTo="#period-concept3"/>
</temporalGroup>
<temporalGroup eId="period4">
<timeInterval start="#effective-date-3" refersTo="#period-concept4"/>
</temporalGroup>
</temporalData>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/StatuteLawDatabase" showAs="Statute Law Database"/>
<passiveRef href="http://www.legislation.gov.uk/id/ssi/2003/74" showAs="The Ethical Standards in Public Life etc. (Scotland) Act 2000 (Commencement No. 3) Order 2003"/>
<passiveRef href="http://www.legislation.gov.uk/id/uksi/2003/708" showAs="The Criminal Justice and Police Act 2001 (Commencement No. 9) Order 2003"/>
<TLCLocation eId="e+w+s+ni" href="/ontology/jurisdictions/uk.EnglandWalesScotlandNorthernIreland" showAs="England, Wales, Scotland, Northern Ireland"/>
<TLCTerm eId="term-legislative-functions" href="/ontology/term/uk.legislative-functions" showAs="legislative functions"/>
<TLCTerm eId="term-insurance-business" href="/ontology/term/uk.insurance-business" showAs="insurance business"/>
<TLCTerm eId="term-non-insurance-business" href="/ontology/term/uk.non-insurance-business" showAs="non-insurance business"/>
<TLCTerm eId="term-the-relevant-powers" href="/ontology/term/uk.the-relevant-powers" showAs="the relevant powers"/>
<TLCConcept eId="period-concept1" href="/ontology/time/1993.02.01-2001.12.01" showAs="from 1993-02-01 until 2001-12-01"/>
<TLCConcept eId="period-concept2" href="/ontology/time/1995.06.19-2001.12.01" showAs="from 1995-06-19 until 2001-12-01"/>
<TLCConcept eId="period-concept3" href="/ontology/time/2001.12.01" showAs="since 2001-12-01"/>
</references>
<notes source="#source">
<note class="commentary F" eId="c1519669">
<p>
Act repealed (1.12.2001) by
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3649">S.I. 2001/3649</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3649/article/1">arts. 1</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3649/article/3/1/c">3(1)(c)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/uksi/2001/3649/article/292">art. 292</ref>
)
</p>
</note>
<note class="commentary C" eId="c1521339">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
amended (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
s. 98, Sch. 18 Pt. II para. 10;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary C" eId="c1521549">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/28">Sch. 11 para. 28</ref>
: power to transfer functions exercised, and certain functions transferred, by
<ref href="http://www.legislation.gov.uk/id/nisr/1987/228">S.R. 1987/228</ref>
,
<ref href="http://www.legislation.gov.uk/id/nisr/1987/228/article/2">arts. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/nisr/1987/228/article/3">3</ref>
</p>
</note>
<note class="commentary F" eId="c1521550">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521551">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/2/3">Sch. 18 Pt. II para. 10(2)(3)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521556">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/28">Sch. 11 para. 28</ref>
inserted (1.4.1991) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40">Companies Act 1989 (c. 40, SIF 27)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/section/193/4">s. 193(4)</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1991/488">S.I. 1991/488</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1991/488/article/2/4">art. 2(4)</ref>
(with art. 4)
</p>
</note>
<note class="commentary F" eId="c1521558">
<p>
Word in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/28/6">Sch. 11 para. 28(6)</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/17">Sch. 18 Pt. II para.17</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521561">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/29">Sch. 11 para. 29</ref>
substituted by
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40">Companies Act 1989 (c. 40, SIF 27)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/section/206/1">s. 206(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/schedule/23/paragraph/37">Sch. 23 para. 37</ref>
</p>
</note>
<note class="commentary F" eId="c1521562">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521563">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/2/3">Sch. 18 Pt. II para. 10(2)(3)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521564">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/29/1/a/b">Sch. 11 para. 29(1)(a)(b)</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/18">Sch. 18 Pt. II para.18</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521568">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521569">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/2/3">Sch. 18 Pt. II para. 10(2)(3)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521570">
<p>
Words substituted by
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40">Companies Act 1989 (c. 40, SIF 27)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/section/206/1">s. 206(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/schedule/23/paragraph/38">Sch. 23 para. 38</ref>
</p>
</note>
<note class="commentary F" eId="c1521572">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521576">
<p>
Words substituted by
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40">Companies Act 1989 (c. 40, SIF 27)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/section/206/1">s. 206(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/schedule/23/paragraph/39">Sch. 23 para. 39</ref>
</p>
</note>
<note class="commentary F" eId="c1521578">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521580">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/2/3">Sch. 18 Pt. II para. 10(2)(3)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521582">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521584">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/2/3">Sch. 18 Pt. II para. 10(2)(3)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary M" eId="c1521588">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1868/100">1868 c. 100</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521590">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/34">Sch. 11 para. 34</ref>
substituted by
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40">Companies Act 1989 (c. 40, SIF 27)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/section/206/1">s. 206(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/schedule/23/paragraph/40">Sch. 23 para. 40</ref>
</p>
</note>
<note class="commentary F" eId="c1521591">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521592">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521593">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/2/3">Sch. 18 Pt. II para. 10(2)(3)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521599">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521600">
<p>
Words substituted by
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40">Companies Act 1989 (c. 40, SIF 27)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/section/206/1">s. 206(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/schedule/23/paragraph/41">Sch. 23 para. 41</ref>
</p>
</note>
<note class="commentary F" eId="c1521603">
<p>
Words substituted by
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40">Companies Act 1989 (c. 40, SIF 27)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/section/206/1">s. 206(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1989/40/schedule/23/paragraph/41">Sch. 23 para. 41</ref>
</p>
</note>
<note class="commentary F" eId="c1521606">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/1">Sch. 18 Pt. II para. 10(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521607">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11">Sch. 11</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/10/2/3">Sch. 18 Pt. II para. 10(2)(3)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521608">
<p>
Words in
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/37/1">Sch. 11 para. 37(1)</ref>
substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/20/1">Sch. 18 Pt. II para. 20(1)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521609">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/37/1A">Sch. 11 para. 37(1A)</ref>
inserted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/20/2">Sch. 18 Pt. II para. 20(2)</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
<note class="commentary F" eId="c1521577">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/11/paragraph/31A">Sch. 11 para. 31A</ref>
inserted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40">Friendly Societies Act 1992 (c. 40)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/98">s. 98</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/18/part/II/paragraph/19">Sch. 18 Pt. II para.19</ref>
(with
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/7/5">ss. 7(5)</ref>
,
<ref href="http://www.legislation.gov.uk/id/ukpga/1992/40/section/93/4">93(4)</ref>
);
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16">S.I. 1993/16</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/article/2">art. 2</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/16/schedule/4">Sch.4</ref>
;
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213">S.I. 1993/2213</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/article/2/1">art. 2(1)</ref>
,
<ref href="http://www.legislation.gov.uk/id/uksi/1993/2213/schedule/5">Sch.5</ref>
.
</p>
</note>
</notes>
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<dc:description>An Act to regulate the carrying on of investment business; to make related provision with respect to insurance business and business carried on by friendly societies; to make new provision with respect to the official listing of securities, offers of unlisted securities, takeover offers and insider dealing; to make provision as to the disclosure of information obtained under enactments relating to fair trading, banking, companies and insurance; to make provision for securing reciprocity with other countries in respect of facilities for the provision of financial services; and for connected purposes.</dc:description>
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<heading> SCHEDULES</heading>
<hcontainer name="schedule" eId="schedule-11" period="#period1">
<num>
<noteRef href="#c1521339" marker="C1" class="commentary C"/>
SCHEDULE 11
</num>
<heading> Friendly Societies</heading>
<part eId="schedule-11-part-IV" period="#period2">
<num>Part IV</num>
<heading> Transfer of Registrar’s Functions</heading>
<paragraph eId="schedule-11-paragraph-28" period="#period2">
<num>
<noteRef href="#c1521549" marker="C2" class="commentary C"/>
28
</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-28-1">
<num>1</num>
<intro>
<p>
If it appears to
<ins class="d30p50695 first last">
<noteRef href="#c1521550" marker="F2" class="commentary attribute F"/>
the Commission
</ins>
</p>
</intro>
<paragraph eId="schedule-11-paragraph-28-1-a">
<num>a</num>
<content>
<p>that a body corporate has been established which is able and willing to discharge all or any of the functions to which this paragraph applies; and</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-28-1-b">
<num>b</num>
<content>
<p>that the requirements of Schedule 7 to this Act (as it has effect by virtue of sub-paragraph (3) below) are satisfied in the case of that body,</p>
</content>
</paragraph>
<wrapUp>
<p>
<ins class="d30p50712 first last">
<noteRef href="#c1521551" marker="F3" class="commentary attribute F"/>
the Commission
</ins>
may, with the consent of the Secretary of State and subject to the following provisions of this paragraph and paragraphs 29 and 30 below, make an order transferring all or any of those functions to that body.
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-2">
<num>2</num>
<content>
<p>
The body to which functions are transferred by the first order made under sub-paragraph (1) above shall be the body known as The Securities and Investments Board Limited if the Secretary of State consents to the making of the order and it appears to
<ins class="d30p50722 first last">
<noteRef href="#c1521550" marker="F2" class="commentary attribute F"/>
the Commission
</ins>
that that body is able and willing to discharge those functions, that the requirements mentioned in paragraph (b) of that sub-paragraph are satisfied in the case of that body and that
<ins class="d30p50726 first last">
<noteRef href="#c1521551" marker="F3" class="commentary attribute F"/>
the Commission
</ins>
is not precluded from making the order by the following provisions of this paragraph or paragraph 29 or 30 below.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-3">
<num>3</num>
<intro>
<p>For the purposes of sub-paragraph (1) above Schedule 7 shall have effect as if—</p>
</intro>
<paragraph eId="schedule-11-paragraph-28-3-a">
<num>a</num>
<content>
<p>for references to a designated agency there were substituted references to a transferee body; and</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-28-3-b">
<num>b</num>
<content>
<p>for the reference to complaints in paragraph 4 there were substituted a reference to complaints arising out of the conduct by regulated friendly societies of regulated business.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-4">
<num>4</num>
<content>
<p>An order under sub-paragraph (1) above is in this Act referred to as a transfer order and a body to which functions are transferred by a transfer order is in this Act referred to as a transferee body.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-5">
<num>5</num>
<content>
<p>
Subject to sub-paragraphs (6) and (8) below, this paragraph applies to the functions of
<ins class="d30p50760 first last">
<noteRef href="#c1521550" marker="F2" class="commentary attribute F"/>
the Commission
</ins>
under section 113(3) of this Act and paragraph 38 below and any functions conferred on
<ins class="d30p50764 first last">
<noteRef href="#c1521551" marker="F3" class="commentary attribute F"/>
the Commission
</ins>
by virtue of paragraphs 2 to 25
<ins class="d30p50768 first last">
<noteRef href="#c1521556" marker="F4" class="commentary attribute F"/>
(except paragraph 22A)
</ins>
above other than the powers under sections 66 and 68 of this Act and, so far as applicable to assets belonging to a regulated friendly society, the power under section 67 of this Act.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-6">
<num>6</num>
<content>
<p>
If
<ins class="d30p50778 first last">
<noteRef href="#c1521550" marker="F2" class="commentary attribute F"/>
the Commission
</ins>
transfers
<ins class="d30p50782 first last">
<noteRef href="#c1521558" marker="F5" class="commentary attribute F"/>
its
</ins>
functions under Chapter
<abbr class="Acronym" title="6">VI</abbr>
of Part I of this Act they shall not be exercisable by the transferee body if the only reasons by virtue of which it appears to the body as mentioned in paragraph 23(2) above relate to the sufficiency of the funds of the society to meet existing claims or of the rates of contribution to cover benefits assured.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-7">
<num>7</num>
<content>
<p>Any function may be transferred by an order under this paragraph either wholly or in part and a function may be transferred in respect of all societies or only in respect of such societies as are specified in the order.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-8">
<num>8</num>
<intro>
<p>A transfer order—</p>
</intro>
<paragraph eId="schedule-11-paragraph-28-8-a">
<num>a</num>
<content>
<p>
may reserve to
<ins class="d30p50804 first last">
<noteRef href="#c1521550" marker="F2" class="commentary attribute F"/>
the Commission
</ins>
the function of revoking a recognition order in respect of a self-regulating organisation for friendly societies on the ground that the requirement mentioned in paragraph 4(2) above is not satisfied; and
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-28-8-b">
<num>b</num>
<content>
<p>shall not transfer to a transferee body the function of revoking any such recognition order on the ground that the organisation has contravened the provisions of paragraph 9 above.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-28-9">
<num>9</num>
<content>
<p>No transfer order shall be made unless a draft of it has been laid before and approved by a resolution of each House of Parliament.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-29" period="#period2">
<num>
<ins class="d30p50885 first">
<noteRef href="#c1521561" marker="F6" class="commentary attribute F"/>
29
</ins>
</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-29-1">
<num>
<ins class="d30p50885">1</ins>
</num>
<intro>
<p>
<ins class="d30p50885">
<ins class="d30p50894 first last">
<noteRef href="#c1521562" marker="F7" class="commentary attribute F"/>
The Commission
</ins>
</ins>
<ins class="d30p50885"> shall not make a transfer order transferring any legislative functions to a transferee body unless—</ins>
</p>
</intro>
<paragraph eId="schedule-11-paragraph-29-1-a">
<num>
<ins class="d30p50885">a</ins>
</num>
<content>
<p>
<ins class="d30p50885">the body has furnished </ins>
<ins class="d30p50885">
<ins class="d30p50904 first last">
<noteRef href="#c1521563" marker="F8" class="commentary attribute F"/>
the Commission
</ins>
</ins>
<ins class="d30p50885"> and the Secretary of State with a copy of the instruments </ins>
<ins class="d30p50885">
<ins class="d30p50908 first last">
<noteRef href="#c1521564" marker="F9" class="commentary attribute F"/>
the body
</ins>
</ins>
<ins class="d30p50885"> proposes to issue or make in the exercise of those functions, and</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-29-1-b">
<num>
<ins class="d30p50885">b</ins>
</num>
<intro>
<p>
<ins class="d30p50885">
<ins class="d30p50917 first last">
<noteRef href="#c1521564" marker="F9" class="commentary attribute F"/>
the Commission and the Secretary of State
</ins>
</ins>
<ins class="d30p50885"> are both satisfied that those instruments will—</ins>
</p>
</intro>
<subparagraph eId="schedule-11-paragraph-29-1-b-i">
<num>
<ins class="d30p50885">i</ins>
</num>
<content>
<p>
<ins class="d30p50885">afford investors an adequate level of protection,</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-29-1-b-ii">
<num>
<ins class="d30p50885">ii</ins>
</num>
<content>
<p>
<ins class="d30p50885">in the case of provisions corresponding to those mentioned in Schedule 8 to this Act, comply with the principles set out in that Schedule, and</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-29-1-b-iii">
<num>
<ins class="d30p50885">iii</ins>
</num>
<content>
<p>
<ins class="d30p50885">take proper account of the supervision of friendly societies by </ins>
<ins class="d30p50885">
<ins class="d30p50939 first last">
<noteRef href="#c1521562" marker="F7" class="commentary attribute F"/>
the Commission
</ins>
</ins>
<ins class="d30p50885"> under the enactments relating to friendly societies.</ins>
</p>
</content>
</subparagraph>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-29-2">
<num>
<ins class="d30p50885">2</ins>
</num>
<content>
<p>
<ins class="d30p50885">In this paragraph “</ins>
<term refersTo="#term-legislative-functions">
<ins class="d30p50885">legislative functions</ins>
</term>
<ins class="d30p50885 last">” means the functions of issuing or making statements of principle, rules, regulations or codes of practice.</ins>
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-30" period="#period2">
<num>30</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-30-1">
<num>1</num>
<content>
<p>
<ins class="d30p50994 first last">
<noteRef href="#c1521568" marker="F10" class="commentary attribute F"/>
The Commission
</ins>
shall also before making a transfer order transferring any functions to a transferee body require it to furnish
<ins class="d30p50998 first last">
<noteRef href="#c1521569" marker="F11" class="commentary attribute F"/>
the Commission
</ins>
and the Secretary of State with a copy of any guidance intended to have continuing effect which it proposes to issue in writing or other legible form and they may take such guidance into account in determining whether they are satisfied as mentioned in paragraph 29(b) above.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-30-2">
<num>2</num>
<content>
<p>
In this Act references to guidance issued by a transferee body are references to guidance issued or any recommendation made by it which is issued or made to regulated friendly societies or self-regulating organisations for friendly societies generally or to any class of regulated friendly societies or self-regulating organisations for friendly societies, being societies which are or may be subject to
<ins class="d30p51008 first last">
<noteRef href="#c1521570" marker="F12" class="commentary attribute F"/>
statements of principle, rules, regulations or codes of practice issued or made
</ins>
by it or organisations which are or may be recognised by it in the exercise of its functions under a transfer order.
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-31" period="#period2">
<num>31</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-31-1">
<num>1</num>
<content>
<p>Subject to the provisions of this paragraph, sections 115, 116, 117(3) to (5) and 118 of this Act shall apply in relation to the transfer of functions under paragraph 28 above as they apply in relation to the transfer of functions under section 114 of this Act.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31-2">
<num>2</num>
<content>
<p>
Subject to sub-paragraphs (5) and (6)(b) below, for references in those provisions to the Secretary of State, a designated agency and a delegation order there shall be substituted respectively references to
<ins class="d30p51114 first last">
<noteRef href="#c1521572" marker="F13" class="commentary attribute F"/>
the Commission
</ins>
, a transferee body and a transfer order.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31-3">
<num>3</num>
<content>
<p>
<ins class="d30p51123 first last">
<noteRef href="#c1521572" marker="F13" class="commentary attribute F"/>
The Commission
</ins>
may not exercise the powers conferred by subsections (1) and (2) of section 115 except with the consent of the Secretary of State.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31-4">
<num>4</num>
<content>
<p>In subsection (3) of section 115 for the reference to Schedule 7 to this Act there shall be substituted a reference to that Schedule as it has effect by virtue of paragraph 28(3) above and in subsection (5) of that section for the reference to section 114(9)(b) of this Act there shall be substituted a reference to paragraph 29(b) above.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31-5">
<num>5</num>
<content>
<p>
Section 118(3)(b) shall have effect as if the reference to any provision applying to the Secretary of State were a reference to any provision applying to the Secretary of State or
<ins class="d30p51139 first last">
<noteRef href="#c1521572" marker="F13" class="commentary attribute F"/>
the Commission
</ins>
.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31-6">
<num>6</num>
<intro>
<p>In Schedule 9 to this Act—</p>
</intro>
<paragraph eId="schedule-11-paragraph-31-6-a">
<num>a</num>
<content>
<p>paragraph 1(2) and (3) shall be omitted;</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-31-6-b">
<num>b</num>
<content>
<p>
paragraph 4 shall have effect as if the references to the Secretary of State were references to the Secretary of State and
<ins class="d30p51161 first last">
<noteRef href="#c1521572" marker="F13" class="commentary attribute F"/>
the Commission
</ins>
;
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-31-6-c">
<num>c</num>
<content>
<p>
paragraph 5 shall have effect
<ins class="d30p51171 first last">
<noteRef href="#c1521576" marker="F14" class="commentary attribute F"/>
as if the reference to section 205A were a reference to paragraph 45(1) and (3) below
</ins>
;
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-31-6-d">
<num>d</num>
<content>
<p>paragraph 12(3) shall have effect as if the reference to section 114(9) were a reference to paragraph 29 above.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31-7">
<num>7</num>
<content>
<p>The power mentioned in paragraph 2(3) of Schedule 9 to this Act shall not be exercisable on the ground that the company has ceased to be a designated agency or, as the case may be, a transferee body if the company remains a transferee body or, as the case may be, a designated agency.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-31A" period="#period2">
<num>
<ins class="d30p51755 first">
<noteRef href="#c1521577" marker="F30" class="commentary attribute F"/>
31A
</ins>
</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-31A-1">
<num>
<ins class="d30p51755">1</ins>
</num>
<intro>
<p>
<ins class="d30p51755">Where any functions under this Act are for the time being exercisable by a transferee body the Commission shall, before issuing an authorisation under section 32 of the Friendly Societies Act 1992 to a friendly society which is carrying on or proposes to carry on in the United Kingdom insurance business or non-insurance business which is investment business—</ins>
</p>
</intro>
<paragraph eId="schedule-11-paragraph-31A-1-a">
<num>
<ins class="d30p51755">a</ins>
</num>
<content>
<p>
<ins class="d30p51755">seek the advice of the transferee body with respect to any matters which are relevant to those functions of the body and relate to the society, its proposed business or persons who are or will be, within the meaning of the Friendly Societies Act 1992, members of the committee of management or other officers of the society; and</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-31A-1-b">
<num>
<ins class="d30p51755">b</ins>
</num>
<content>
<p>
<ins class="d30p51755">take into account any advice on those matters given to the Commission by the transferee body before the application is decided.</ins>
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31A-2">
<num>
<ins class="d30p51755">2</ins>
</num>
<intro>
<p>
<ins class="d30p51755">In sub-paragraph (1) above—</ins>
</p>
</intro>
<paragraph eId="schedule-11-paragraph-31A-2-a">
<num>
<ins class="d30p51755">a</ins>
</num>
<content>
<p>
<ins class="d30p51755"></ins>
<term refersTo="#term-insurance-business">
<ins class="d30p51755">insurance business</ins>
</term>
<ins class="d30p51755">” has the meaning given by section 117(1) of the Friendly Societies Act 1992; and</ins>
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-31A-2-b">
<num>
<ins class="d30p51755">b</ins>
</num>
<content>
<p>
<ins class="d30p51755"></ins>
<term refersTo="#term-non-insurance-business">
<ins class="d30p51755">non-insurance business</ins>
</term>
<ins class="d30p51755">” has the meaning given by section 119(1) of that Act.</ins>
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-31A-3">
<num>
<ins class="d30p51755">3</ins>
</num>
<content>
<p>
<ins class="d30p51755 last">The Commission may for the purpose of obtaining the advice of a transferee body under sub-paragraph (1) above furnish it with any information obtained by the Commission in connection with the application.</ins>
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-32" period="#period2">
<num>32</num>
<heading/>
<content>
<p>
A transferee body shall at least once in each year for which the transfer order is in force make a report to
<ins class="d30p51211 first last">
<noteRef href="#c1521578" marker="F15" class="commentary attribute F"/>
the Commission
</ins>
on the discharge of the functions transferred to it by the order and on such other matters as the order may require and
<ins class="d30p51215 first last">
<noteRef href="#c1521578" marker="F15" class="commentary attribute F"/>
the Commission
</ins>
shall send a copy of each report received by
<ins class="d30p51219 first last">
<noteRef href="#c1521580" marker="F16" class="commentary attribute F"/>
the Commission
</ins>
under this paragraph to the Secretary of State who shall lay copies of the report before Parliament.
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-33" period="#period2">
<num>33</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-33-1">
<num>1</num>
<content>
<p>This paragraph applies where the function of making or revoking a recognition order in respect of a self-regulating organisation for friendly societies is exercisable by a transferee body.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-33-2">
<num>2</num>
<content>
<p>
Paragraph 3(2) above shall have effect as if the first reference to the Secretary of State included a reference to
<ins class="d30p51287 first last">
<noteRef href="#c1521582" marker="F17" class="commentary attribute F"/>
the Commission
</ins>
.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-33-3">
<num>3</num>
<content>
<p>
The transferee body shall not regard the requirement mentioned in paragraph 4(2) as satisfied unless
<ins class="d30p51297 first last">
<noteRef href="#c1521582" marker="F17" class="commentary attribute F"/>
the Commission
</ins>
has certified that
<ins class="d30p51301 first last">
<noteRef href="#c1521584" marker="F18" class="commentary attribute F"/>
the Commission
</ins>
also regards it as satisfied.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-33-4">
<num>4</num>
<content>
<p>
A transferee body shall send
<ins class="d30p51311 first last">
<noteRef href="#c1521582" marker="F17" class="commentary attribute F"/>
the Commission
</ins>
and the Secretary of State a copy of any notice received by it under paragraph 8(6) above.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-33-5">
<num>5</num>
<content>
<p>
Where the Secretary of State exercises any of the powers conferred by paragraph 10(2) above in relation to an organisation
<ins class="d30p51321 first last">
<noteRef href="#c1521582" marker="F17" class="commentary attribute F"/>
the Commission
</ins>
shall direct the transferee body to take the appropriate action in relation to that organisation and such a direction shall, on the application of
<ins class="d30p51325 first last">
<noteRef href="#c1521582" marker="F17" class="commentary attribute F"/>
the Commission
</ins>
, be enforceable by mandamus or, in Scotland, by an order for specific performance under section 91 of the
<noteRef href="#c1521588" marker="M1" class="commentary M"/>
Court of Session Act 1868.
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-34" period="#period2">
<num>
<ins class="d30p51366 first">
<noteRef href="#c1521590" marker="F19" class="commentary attribute F"/>
34
</ins>
</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-34-1">
<num>
<ins class="d30p51366">1</ins>
</num>
<content>
<p>
<ins class="d30p51366">A transferee body to which </ins>
<ins class="d30p51366">
<ins class="d30p51376 first last">
<noteRef href="#c1521591" marker="F20" class="commentary attribute F"/>
the Commission
</ins>
</ins>
<ins class="d30p51366"> has transferred any legislative functions may exercise those functions without the consent of the Secretary of State.</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-34-2">
<num>
<ins class="d30p51366">2</ins>
</num>
<content>
<p>
<ins class="d30p51366">In this paragraph “</ins>
<term refersTo="#term-legislative-functions">
<ins class="d30p51366">legislative functions</ins>
</term>
<ins class="d30p51366 last">” means the functions of issuing or making statements of principle, rules, regulations or codes of practice.</ins>
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-35" period="#period2">
<num>35</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-35-1">
<num>1</num>
<intro>
<p>
A transferee body shall not impose any prohibition or requirement under section 65 or 67 of this Act on a regulated friendly society or vary any such prohibition or requirement unless it has given reasonable notice of its intention to do so to
<ins class="d30p51440 first last">
<noteRef href="#c1521592" marker="F21" class="commentary attribute F"/>
the Commission
</ins>
and informed
<ins class="d30p51444 first last">
<noteRef href="#c1521593" marker="F22" class="commentary attribute F"/>
the Commission
</ins>
</p>
</intro>
<paragraph eId="schedule-11-paragraph-35-1-a">
<num>a</num>
<content>
<p>of the manner in which and the date on or after which it intends to exercise the power; and</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-35-1-b">
<num>b</num>
<content>
<p>in the case of a proposal to impose a prohibition or requirement, on which of the grounds specified in paragraph 23(2) above it proposes to act and its reasons for considering that the ground in question exists and that it is necessary to impose the prohibition or requirement.</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-35-2">
<num>2</num>
<content>
<p>
A transferee body shall not exercise any power to which sub-paragraph (1) above applies if before the date given in the notice in pursuance of sub-paragraph (1)(a) above
<ins class="d30p51466 first last">
<noteRef href="#c1521592" marker="F21" class="commentary attribute F"/>
the Commission
</ins>
has served on it a notice in writing directing it not to do so; and
<ins class="d30p51470 first last">
<noteRef href="#c1521592" marker="F21" class="commentary attribute F"/>
the Commission
</ins>
may serve such a notice if
<ins class="d30p51474 first last">
<noteRef href="#c1521593" marker="F22" class="commentary attribute F"/>
the Commission
</ins>
considers it is desirable for protecting members or potential members of the regulated friendly society against the risk that it may be unable to meet its liabilities or to fulfil the reasonable expectations of its members or potential members.
</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-36" period="#period2">
<num>36</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-36-1">
<num>1</num>
<content>
<p>
The Secretary of State shall not consent to the making of an order by
<ins class="d30p51572 first last">
<noteRef href="#c1521599" marker="F23" class="commentary attribute F"/>
the Commission
</ins>
under paragraph 28 above transferring any functions to a transferee body unless he is satisfied that any
<ins class="d30p51576 first last">
<noteRef href="#c1521600" marker="F24" class="commentary attribute F"/>
statements of principle, rules, regulations, codes of practice
</ins>
, guidance and recommendations of which copies are furnished to him under paragraphs 29(a) and 30(1) above do not have, and are not intended or likely to have, to any significant extent the effect of restricting, distorting or preventing competition or, if they have or are intended or likely to have that effect to any significant extent, that the effect is not greater than is necessary for the protection of investors.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-36-2">
<num>2</num>
<content>
<p>Section 121(2) and (4) and sections 122 to 128 above shall have effect in relation to transferee bodies and transfer orders as they have effect in relation to designated agencies and designation orders but subject to the following modifications.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-36-3">
<num>3</num>
<intro>
<p>Those provisions shall have effect as if the powers exercisable under section 121(3) were—</p>
</intro>
<paragraph eId="schedule-11-paragraph-36-3-a">
<num>a</num>
<content>
<p>
to make an order transferring back to
<ins class="d30p51598 first last">
<noteRef href="#c1521599" marker="F23" class="commentary attribute F"/>
the Commission
</ins>
all or any of the functions transferred to the transferee body by a transfer order; or
</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-36-3-b">
<num>b</num>
<content>
<p>
to direct
<ins class="d30p51608 first last">
<noteRef href="#c1521599" marker="F23" class="commentary attribute F"/>
the Commission
</ins>
to direct the transferee body to take specified steps for the purpose of securing that the
<ins class="d30p51612 first last">
<noteRef href="#c1521603" marker="F25" class="commentary attribute F"/>
statements of principle, rules, regulations, codes of practice
</ins>
, guidance or practices in question do not have the effect mentioned in sub-paragraph (1) above.
</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-36-4">
<num>4</num>
<content>
<p>No order shall be made by virtue of sub-paragraph (3) above unless a draft of it has been laid before and approved by a resolution of each House of Parliament.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-36-5">
<num>5</num>
<content>
<p>For the decisions referred to in section 122(1) there shall be substituted a reference to the Secretary of State’s decision whether he is precluded by sub-paragraph (1) above from giving his consent to the making of a transfer order.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-36-6">
<num>6</num>
<intro>
<p>Section 128 shall apply as if—</p>
</intro>
<paragraph eId="schedule-11-paragraph-36-6-a">
<num>a</num>
<content>
<p>the powers referred to in subsection (1) of that section included the power conferred by sub-paragraph (3)(b) above; and</p>
</content>
</paragraph>
<paragraph eId="schedule-11-paragraph-36-6-b">
<num>b</num>
<content>
<p>
the references to Chapter
<abbr class="Acronym" title="14">XIV</abbr>
of Part I included references to this paragraph.
</p>
</content>
</paragraph>
</subparagraph>
</paragraph>
<paragraph eId="schedule-11-paragraph-37" period="#period2">
<num>37</num>
<heading/>
<subparagraph eId="schedule-11-paragraph-37-1">
<num>1</num>
<content>
<p>
If a transferee body has reasonable grounds for believing that any regulated friendly society has failed to comply with an obligation to which it is subject by virtue of this Act it shall forthwith give notice of that fact to
<ins class="d30p51694 first last">
<noteRef href="#c1521606" marker="F26" class="commentary attribute F"/>
the Commission
</ins>
so that
<ins class="d30p51698 first last">
<noteRef href="#c1521607" marker="F27" class="commentary attribute F"/>
the Commission
</ins>
can take it into consideration in deciding whether to exercise in relation to the society any of the
<ins class="d30p51702 first last">
<noteRef href="#c1521608" marker="F28" class="commentary attribute F"/>
relevant powers
</ins>
.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-37-1A">
<num>
<ins class="d30p51706 first">
<noteRef href="#c1521609" marker="F29" class="commentary attribute F"/>
1A
</ins>
</num>
<content>
<p>
<ins class="d30p51706">In sub-paragraph (1) above “</ins>
<term refersTo="#term-the-relevant-powers">
<ins class="d30p51706">the relevant powers</ins>
</term>
<ins class="d30p51706 last">” means those powers specified in paragraph 26(2).</ins>
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-37-2">
<num>2</num>
<content>
<p>A notice under sub-paragraph (1) above shall contain particulars of the obligation in question and of the transferee body’s reasons for considering that the society has failed to satisfy that obligation.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-11-paragraph-37-3">
<num>3</num>
<content>
<p>A transferee body need not give a notice under sub-paragraph (1) above in respect of any matter unless it considers that that matter (either alone or in conjunction with other matters) would justify the withdrawal of authorisation under section 28 of this Act in the case of a person to whom that provision applies.</p>
</content>
</subparagraph>
</paragraph>
</part>
</hcontainer>
</hcontainer>
</portionBody>
</portion>
</akomaNtoso>