Friendly Societies Act 1992

Applications for confirmation U.K.

5 (1) An application by a friendly society for confirmation by the [F1 appropriate authority]— U.K.

(a) of an amalgamation under section 85 above,

(b) of a transfer of engagements of a friendly society under section 86 above, or

(c) of the conversion of a friendly society into a company under section 91 above,

shall be made in such manner as [F2 the [F1 appropriate authority] may direct].

(2) An application for confirmation of an amalgamation shall be made jointly by the friendly societies concerned.

[F3 (3) The [F4 appropriate authority] may, on the application or with the consent of a friendly society, direct in relation to any provision of regulations made for the purposes of sub-paragraph (1) above that the provisions shall not apply to the society, or shall apply to it with such modifications as may be specified in the direction.

F3 (4) A direction under sub-paragraph (3) above may be subject to conditions.

F3 (5) A direction under sub-paragraph (3) above may be revoked by the [F5 appropriate authority] at any time; and the [F5 appropriate authority] may at any time vary any such direction on the application or with the consent of the society to which it applies.

[F6 (5A) The PRA must send the FCA a copy of any direction, variation or revocation it makes under this paragraph.]

F3 (6) Where the [F7 appropriate authority]—

(a) makes a direction under subsection (3) above, or

(b) revokes or varies such a direction,

[F8 the FCA must] cause the direction, variation or revocation to be entered on a register kept by it for the purposes of this subsection.

F3 (7) The register kept for the purposes of subsection (6) above shall be available for inspection on reasonable notice by members of the public.

F3 (8) The [F9 [F10 FCA] shall keep] a copy of—

(a) any direction made F11 ... under subsection (3) above, and

(b) any revocation or variation of any such direction,

F12 . . . in the public file of the society to which it relates.]

Textual Amendments

F1 Words in Sch. 15 para. 5(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(a) (with Sch. 12)

F2 Words in Sch. 15 para. 5(1) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 128(e)(ii) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F3 Sch. 15 para. 5(3)-(8) inserted (1.8.1996) by S.I. 1996/1188, art. 8

F4 Words in Sch. 15 para. 5(3) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(a) (with Sch. 12)

F5 Words in Sch. 15 para. 5(5) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(a) (with Sch. 12)

F6 Sch. 15 para. 5(5A) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(b) (with Sch. 12)

F7 Words in Sch. 15 para. 5(6) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(c)(i) (with Sch. 12)

F8 Words in Sch. 15 para. 5(6) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(c)(ii) (with Sch. 12)

F9 Words in Sch. 15 para. 5(8) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 128(g)(i) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F10 Word in Sch. 15 para. 5(8) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(d)(i) (with Sch. 12)

F11 Words in Sch. 15 para. 5(8) omitted (1.4.2013) by virtue of The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(d)(ii) (with Sch. 12)

F12 Words in Sch. 15 para. 5(8) repealed (1.12.2001) by S.I. 2001/2617, arts. 2, 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

6 (1) Where a friendly society applies for confirmation of an amalgamation, transfer or conversion, it shall publish a notice of the application— U.K.

(a) in one or more of the London Gazette, the Edinburgh Gazette or the Belfast Gazette, as the Commission directs, and,

(b) if it so directs, in one or more newspapers.

[F13 (1A) Where an application for confirmation of a transfer is made by a friendly society to which section 37(2) or (3) above applies and F14 . . .-

F15 . . .as regards any policy included in the proposed transfer, [F16 an EEA State] other than the United Kingdom is the State in which the risk or commitment is situated; F15 . . .

F17 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . ..the society shall also; if the [F18 appropriate authority] so directs publish the notice in two national newspapers in that State.]

(2) The notice shall—

(a) state that any interested party has the right to make representations to the [F18 appropriate authority] with respect to the application;

(b) specify a date determined by the [F18 appropriate authority] before which any written representations or notice of a person’s intention to make oral representation must be received by the [F18 appropriate authority]; and

(c) specify a date determined by the [F18 appropriate authority] as the day on which it intends to hear any oral representations.

(3) Where a friendly society participating in a transfer is required under section 88 above to furnish an actuary’s report, the society shall publish a notice in the manner required by sub-paragraph (1) above—

(a) stating that such a report has been obtained;

[F19 (b) stating–

(i) the addresses of the offices of the society, and

(ii) where the society is directed in accordance with sub–paragraph (1A) above to publish a notice of the application in two national newspapers in a State other than the United Kingdom, the address of such place in that State as the [F18 appropriate authority] directs,

at which copies of the report shall be available for inspection for a period of not less than 21 days beginning with the date of the first publication of the notice; and]

(c)

containing such particulars of any other matter relating to the report which the [F18 appropriate authority] requires in the case of the transfer in question;

and such a society may include the notice required by this sub-paragraph in the notice required by sub-paragraph (1) above.

Textual Amendments

F13 Sch. 15 para.6(1A) inserted (1.9.1994) by S.I. 1994/1984, reg. 25, Sch. 4 para. 1(1)

F14 Word in Sch. 15 Pt. II para. 6(1A) repealed (1.1.1998) by S.I. 1997/2849, reg. 5, Sch.

F15 Words in Sch. 15 Pt. II para. 6(1A)(a) repealed (1.1.1998) by S.I. 1997/2849, reg. 5, Sch.

F16 Words in Sch. 15 Pt. II para. 6 substituted (1.1.1998) by S.I. 1997/2849, reg. 3

F17 Sch. 15 Pt. II para. 6(1A)(b) repealed (1.1.1998) by S.I. 1997/2849, reg. 5, Sch

F18 Words in Sch. 15 para. 6 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(7) (with Sch. 12)

F19 Sch. 15 para. 6(3)(b) substituted (1.9.1994) by S.I. 1994/1984, reg. 25, Sch. 4 para. 1(2)

7 U.K. After the date specified in the notice in pursuance of paragraph 6(2)(b) above, the [F20 appropriate authority] shall—

(a) determine the time and place at which oral representations may be made;

(b) give notice of that determination to the friendly society applying for confirmation and to any persons who have give notice of their intention to make oral representations; and

(c) send copies of any written representations received by the [F20 appropriate authority] to that society;

and the [F20 appropriate authority] shall allow that society an opportunity to comment on the written representations (whether at a hearing or in writing) before the expiration of such period as the [F20 appropriate authority] specifies in a notice to the society.

Textual Amendments

F20 Words in Sch. 15 para. 7 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(7) (with Sch. 12)