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

58.  In section 14—

(a) the words “or (4)”, wherever they appear, are omitted,

(b) in subsection (3)(a) for the words “section 48 below applies” there is substituted “rules in respect of margins of solvency, made by the Authority under section 138 of the Financial Services and Markets Act 2000, apply”,

(c) in subsection (3)(b) for the words “that section” there is substituted “such rules”,

(d) subsection (4) is omitted,

(e) for the word “Commission” in subsections (5), (6) and (10) there is substituted “Authority”,

(f) subsection (11) is omitted, and

(g) in subsection (12)—

(i) for the words “central office” there is substituted “Authority”, and

(ii) for the words “such a notice” there is substituted “any notice served on a society under subsection (6) or (10) above”.