The Life Assurance Consolidation Directive (Consequential Amendments) Regulations 2004

3.—(1) The Friendly Societies Act 1992 is amended as follows.

(2) In subsection(2)(c)(i) of section 52 (applications to court) for “life Directives” substitute “the life assurance consolidation Directive”.

(3) In subsection (1) of section 119 (general interpretation)—

(a) after the definition of “committee of management” insert—

““the life assurance consolidation Directive” means Directive 2002/83/EC of the European Parliament and of the Council of 5th November 2002 concerning life assurance;”;

(b) the definitions of “the first life Directive”, “the second life Directive”, “the third life Directive” and “the life Directives”(1) are omitted.

(4) In subsection (1A) of section 119(2)—

(a) the words “, or to the first or third life Directive,” are omitted; and

(b) for “Directives 72/239/EEC and 92/96/EEC in the field of non-life insurance, Directives 79/267/EEC and 92/49/EEC in the field of life insurance” substitute “Directives 72/239/EEC and 92/49/EEC in the field of non-life insurance”.

(5) In sub-paragraph (1)(c)(v) of paragraph 15A(3) of Schedule 15 (amalgamations, transfers of engagements and conversion: supplementary), for “Article 29 or 30 of the first life Directive” substitute “Article 55 or 56 of the life assurance consolidation Directive”.

(1)

The definition of “the third life directive” was inserted by S.I. 1994/1984, regulation 30(f).

(2)

Section 119(1A) was inserted by S.I. 1996/1669 regulation 23 and Schedule 5 paragraph 6 and amended by S.I. 2001/3649 article 205(2) and (4).

(3)

Paragraph 15A of Schedule 15 was inserted by S.I. 1993/2519, regulation 5 and substituted by S.I. 1994/1984, regulation 25 and Schedule 4, paragraph 4.