The Financial Services and Markets Act 2000 (Mutual Societies) Order 2001

76.  In section 62(1)

(a) in subsection (1), for the word “Commission”, there is substituted “Authority”,

(b) in subsection (3), for the word “Commission”, wherever it appears, there is substituted “Authority”,

(c) after subsection (3) there is inserted—

“(3A) Subject to subsection (2) above, any person authorised for the purpose by the Authority (“an authorised officer”) may, on producing evidence of his authority, require a friendly society or a subsidiary of, or body jointly controlled by, an incorporated friendly society—

(a) to furnish to him forthwith such specified information as the Authority considers it needs for the purposes of its supervisory functions;

(b) to produce to him forthwith such documents or other material as the Authority considers it needs for those purposes;

(c) to provide to him forthwith such explanations of specified matters as the Authority considers it needs for those purposes.”,

(d) in subsection (4)—

(i) for the words “Commission has power” there is substituted “Authority has power, or by virtue of subsection (3A) above an authorised officer has power,”, and

(ii) for the word “Commission”, the second and third time it appears, there is substituted “Authority or authorised officer”,

(e) in subsection (5)—

(i) for the words “Commission has power” there is substituted “Authority has power, or by virtue of subsection (3A) above an authorised officer has power,” and

(ii) for the word “Commission”, the second and third time it appears, there is substituted “Authority or authorised officer”,

(f) subsection (5A) is omitted, and

(g) in subsection (8)—

(i) after the words “subsection (3),” there is inserted “(3A),”,

(ii) for the word “Commission”, the first time it appears, there is substituted “Authority or an authorised officer”, and

(iii) for the word “Commission”, the second time it appears, there is substituted “Authority or authorised officer”.

(1)

Section 62(4) was amended and section 62(5A) inserted by S.I. 1994/1984. Section 62 was extended by the Financial Services Act 1986 (c. 60), Schedule 11 paragraph 26(2).