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Friendly Societies Act 1992
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12U.K.The [F1appropriate authority] shall not confirm a transfer unless it is satisfied—
(a)that all the engagements included in the transfer may be transferred under section 86 above to the transferee;
(b)that the transfer is in the interests of the members of each friendly society participating in the transfer; and
(c)where the transfer is not of all the engagements of the transferor, that the purposes of each friendly society participating in the transfer will, after the transfer, continue to include the carrying on of one or more activities falling within Schedule 2 to this Act.
Textual Amendments
F1Words in Sch. 15 para. 12 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(12) (with Sch. 12)
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