Version Superseded: 01/02/1993
Point in time view as at 01/02/1991. This version of this provision has been superseded.
Financial Services Act 1986 (Repealed), Paragraph 12 is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
12(1)Subject to the following provisions of this paragraph, sections 44(7), 102(1)(c), 124, 125, 126, 180(1)(n), 181, 187, 192 and 200(4) of this Act shall apply in relation to recognised self-regulating organisations for friendly societies as they apply in relation to recognised self-regulating organisations.
(2)In its application by virtue of sub-paragraph (1) above section 126(1) of this Act shall have effect as if the reference to section 119(2) were a reference to paragraph 10(1) above.
(3)In its application by virtue of sub-paragraph (1) above subsection (2) of section 187 of this Act shall have effect as if—
(a)the reference in paragraph (a) to paragraphs 1 to 6 of Schedule 2 were to paragraphs 2 to 6 of that Schedule (as they apply by virtue of paragraph 4 above) and to sub-paragraph (2) of paragraph 4 above; and
(b)paragraph (d) referred to the powers of the organisation under paragraph 23(4) below.
(4)A direction under subsection (1) of section 192 of this Act as it applies by virtue of sub-paragraph (1) above shall direct the Registrar to direct the organisation not to take or, as the case may be, to take the action in question; and where the function of making or revoking a recognition order in respect of a self-regulating organisation for friendly societies is exercisable by a transferee body any direction under that subsection as it applies as aforesaid shall be a direction requiring the Registrar to direct the transferee body to give the organisation such a direction as is specified in the direction given by the Secretary of State.
(5)Subsection (5) of that section shall not apply to a direction given to the Registrar by virtue of this paragraph.
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