SCHEDULES

SCHEDULE 23

Part II Amendments Relating to Friendly Societies

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(1)

Paragraph 14 (conduct of business rules) is amended as follows.

(2)

In sub-paragraph (1), omit the words “other than a member society”.

(3)

After sub-paragraph (2) insert—

“(2A)

Paragraph 22B below has effect as regards the application of rules 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.”.

(4)

In sub-paragraph (3), omit the word “and” after paragraph (a); and after paragraph (b) insert—

“; and

(c)

for the references in subsection (4) to section 63B and a recognised self-regulating organisation there shall be substituted references to paragraph 13B and a recognised self-regulating organisation for friendly societies.”.