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Financial Services Act 1986 (Repealed)
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- UK Public General Acts
- 1986 c. 60
- SCHEDULE 11
- Part IV
- Paragraph 31A
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Changes over time for: Paragraph 31A
Version Superseded: 01/12/2001
Alternative versions:
- 01/02/1993- Amendment
- 07/07/1997
Point in time - Stop date 01/12/2001- Amendment
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Point in time view as at 07/07/1997. This version of this provision has been superseded.
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Financial Services Act 1986 (Repealed), Paragraph 31A is up to date with all changes known to be in force on or before 01 December 2024.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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[F131A(1)Where any functions under this Act are for the time being exercisable by a transferee body the Commission shall, before issuing an authorisation under section 32 of the Friendly Societies Act 1992 to a friendly society which is carrying on or proposes to carry on in the United Kingdom insurance business or non-insurance business which is investment business—
(a)seek the advice of the transferee body with respect to any matters which are relevant to those functions of the body and relate to the society, its proposed business or persons who are or will be, within the meaning of the Friendly Societies Act 1992, members of the committee of management or other officers of the society; and
(b)take into account any advice on those matters given to the Commission by the transferee body before the application is decided.
(2)In sub-paragraph (1) above—
(a)“insurance business” has the meaning given by section 117(1) of the Friendly Societies Act 1992; and
(b)“non-insurance business” has the meaning given by section 119(1) of that Act.
(3)The Commission may for the purpose of obtaining the advice of a transferee body under sub-paragraph (1) above furnish it with any information obtained by the Commission in connection with the application.]
Textual Amendments
F1Sch. 11 para. 31A inserted (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.19 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch.4; S.I. 1993/2213, art. 2(1), Sch.5.
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