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Social Security Act 1973

Changes over time for: Section 71

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Version Superseded: 07/02/1994

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[F171 Friendly societies. E+W+S

(1)The Secretary of State may, after consultation with the Chief Registrar of Friendly Societies or, in Northern Ireland, the Registrar of Friendly Societies for Northern Ireland, make such regulasions as he thinks appropriate for enabling a registered society to conduct approved group insurance business with a view to the establishment of occupational pension schemes . . . F2.

(2)The power to make regulations under this section shall extend to enabling registered societies to conduct such business as is mentioned in subsection (1) above freed from any restrictions of the relevant legislation as to the amounts which a member, or a person claiming through a member, is entitled to receive from any one or more societies or branches.

(3)Regulations under this section may include such adaptations and modifications of the relevant legislation, and such other supplementary and incidental provisions, as the Secretary of State considers to be necessary or expedient for achieving the purposes referred to in subsection (1) above.

(4)In this section—

(a)as it applies to Great Britain—

(i)“the relevant legislation” means the M1Friendly Societies Acts 1896 to 1971 and Part II of Schedule 8 to the Finance Act 1966,

(ii)“registered society” has the same meaning as in the said Acts of 1896 to 1971, and

(iii)“approved group insurance business” has the same meaning as in section 10 of the M2Friendly Societies Act 1971;

(b)as it applies to Northern Ireland—

(i)“the relevant legislation” means the M3Friendly Societies Act (Northern Ireland) 1970,

(ii)“registered society” has the same meaning as in that Act, and

(iii)“approved group insurance business” has the same meaning as in paragraph 11(5) of Schedule 2 to that Act.]

Textual Amendments

F2Words repealed by Social Security Amendment Act 1974 (c. 58), Sch. 2 w.e.f. 17.1.75.

Modifications etc. (not altering text)

C1S. 71 extended to personal pension schemes (1.5.87) by Social Security Act 1986 (c. 50), Sch. 10, para. 7.

C2The Interpretation Act 1987 (c. 30) s. 17(2)(a) applies to the references to the Friendly Societies Acts 1896 to 1971 and to Part II of Schedule 8 to the Finance Act 1966

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