[F1(1) Subject to the following provisions of this section, the [F2FCA , having consulted the PRA if the society is a PRA -authorised person,] may by notice in writing cancel the registration of a society—
(a) at the request of the society, if the [F3FCA] thinks fit; or
(b) if the [F3FCA] is satisfied that—
(i)an acknowledgement of registration has been obtained by fraud or mistake;
(ii)the society exists for an unlawful purpose;
(iii) the society has wilfully and after notice from the [F3FCA] violated any provision of this Act;
(iv)the society has ceased to exist; or
(v)in the case of a society to which section 37(2) or (3) of the 1992 Act applies, the principal place of business of the society is outside the British Islands.
(1A) The request mentioned in subsection (1)(a) must be evidenced in such way as the [F4FCA] may direct.]
(2)Subject to the following provisions of this section, in any case falling within [F5any of sub-paragraphs (i) to (iv) of subsection (1)(b) above in which the [F6FCA] might cancel the registration of a society, it may by notice in writing],—
(a)suspend the registration of the society for a term not exceeding three months; and
(b)from time to time renew any such suspension for the like period.
(3)Subject to subsection (4) below, not less than two months’ previous notice in writing specifying briefly the ground of the proposed cancellation or suspension shall be given to a society by the [F7[F8FCA] before the society’s] registration is cancelled or suspended.
(4)Subsection (3) above shall not apply where the registration of a society is cancelled at its own request or under section 82(5), section 84(3) or section 85(4) above [F9or under any provision of the 1992 Act]; and if before the expiry of the period of notice under subsection (3) above a society duly lodges an appeal under section 92 below, the society’s registration shall not be cancelled before the date of determination or abandonment of the appeal.
(5)Where before the expiry of the period of notice under subsection (3) above of the proposed cancellation of a society’s registration the society duly lodges an appeal against the proposed cancellation under section 92 below, the [F10[F11FCA] may by notice in writing] suspend the society’s registration from the expiry of that period until the date of the determination or abandonment of the appeal.
(6)Where the registration of a society has been cancelled or suspended, notice shall forthwith be published in the Gazette and in some newspaper in general circulation in the neighbourhood of the society’s registered office.
(7)Where the registration of a society has been cancelled under subsection (1) above or suspended under subsection (2) or subsection (5) above, then, as the case may require,—
(a)from the time of the cancellation, or
(b)from the time of the suspension until the period of that suspension and any renewal of it under subsection (2)(b) above ends (whether on the expiry of that period or on a successful appeal under section 92 below against such a renewal),
the society shall not be entitled to any of the privileges of this Act as a registered society, but without prejudice to any liability actually incurred by the society (which liability may be enforced against it as if the cancellation or suspension had not taken place).
Textual Amendments
F1S. 91(1)(1A) substituted for s. 91(1) (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 35(a) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F2Words in s. 91(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 5 para. 15(a) (with Sch. 12)
F3Words in s. 91(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 5 para. 15(b) (with Sch. 12)
F4Words in s. 91(1A) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 5 para. 2(1)(a)(2)(p) (with Sch. 12)
F5Words in s. 91(2) substituted (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 35(b) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F6Words in s. 91(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 5 para. 2(1)(a)(2)(p) (with Sch. 12)
F7Words in s. 91(3) substituted (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 35(c) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F8Words in s. 91(3) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 5 para. 2(1)(a)(2)(p) (with Sch. 12)
F9Words in s. 91(4) inserted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 95, Sch. 16 para. 37 (with ss. 7(5) and 93(4)); S.I. 1993/16, art. 2, Sch. 3.
F10Words in s. 91(5) substituted (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8, 13(1), Sch. 3 Pt. I para. 35(d) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F11Words in s. 91(5) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 5 para. 2(1)(a)(2)(p) (with Sch. 12)
Modifications etc. (not altering text)
C1Ss. 87,91 applied by Financial Services Act 1986 (c. 60, SIF 69), ss. 140, 211(1), Sch. 11 para. 26(2)(3)
C2S. 91(1)(2) extended (1.2.1993 for the purpose of application of Financial Services Act 1986 to incorporated friendly societies and 1.1.1994 for all other purposes) by 1986 c. 60, Sch. 11 para. 26(2) as substituted (1.2.1993) by 1992 c. 40, s. 98, Sch. 18, Pt. II para. 16 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2 Sch. 4; S.I. 1993/2213, art. 2, Sch. 5.