The Financial Services and Markets Act 2000 (Consequential Amendments and Savings) (Industrial Assurance) Order 2001

3.—(1) This paragraph applies where—

(a) before commencement a certificate of exemption had been granted under section 96 of the Companies Act 1967 (power of the Friendly Societies Commission to exempt Northern Irish collecting societies from the provisions of the Industrial Assurance Acts 1923 to 1958) in relation to a collecting society;

(b) that certificate remained in force in relation to that society immediately before commencement; and

(c) one or more exemptions conferred by that certificate related to a provision which continues to have effect after commencement (with or without modification) by virtue of this Order.

(2) An exemption conferred by that certificate has effect after commencement, but can be revoked or varied as if it were a direction under section 148(2) of the Act.