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Financial Services Act 1986 (Repealed)
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Changes over time for: Paragraph 19
Version Superseded: 01/12/2001
Alternative versions:
- 01/02/1991- Amendment
- 01/02/1993- Amendment
- 01/06/1998
Point in time - Stop date 01/12/2001- Amendment
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Point in time view as at 01/06/1998. This version of this provision has been superseded.
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Financial Services Act 1986 (Repealed), Paragraph 19 is up to date with all changes known to be in force on or before 14 November 2024. 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.
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19(1)Regulations under section 55 of this Act shall not apply to money held by regulated friendly societies but [F1the Commission] may, with the consent of the Secretary of State, make regulations with respect to money held by a regulated friendly society in such circumstances as may be specified in the regulations.
(2)Regulations under this paragraph shall not provide that money held by a regulated friendly society shall be held as mentioned in paragraph (a) of subsection (2) of that section but paragraphs (b) to (f) of that subsection and subsections (3) and (4) of that section shall apply in relation to regulations made under this paragraph as they apply in relation to regulations under that section [F2(but with the substitution for the reference in paragraph (e) of subsection (2) to the Secretary of State of a reference to [F1the Commission])].
[F3(3)Paragraph 22B below has effect as regards the application of regulations under this paragraph to member societies in respect of investment business in the carrying on of which they are subject to the rules of a recognised self-regulating organisation for friendly societies.]
Textual Amendments
F1Words in Sch. 11 substituted (1.2.1993 for specified purposes and 1.1.1994 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. II para. 10(1) (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.
F2Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 34(2)
F3Sch. 11 para. 19(3) inserted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 Pt. II para. 34(3)
Modifications etc. (not altering text)
C1Sch. 11 para. 19: certain functions conferred by provisions contained in paras. 2–25 and 38 of Schedule 11 transferred as mentioned in S.I. 1990/354, art. 5(2)
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