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Friendly Societies Act 1992
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- UK Public General Acts
- 1992 c. 40
- SCHEDULE 17
- Paragraph 1
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Changes over time for: Paragraph 1
No longer has effect: 01/12/2001
Alternative versions:
- Prospective- Amendment
- Stop date 01/12/2001- Amendment
- 14/04/2000
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Point in time view as at 14/04/2000. This version of this provision never came into effect.
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Prospective
1(1)In section 1 (the Policyholders Protection Board), in subsection (2), after paragraph (a) there shall be inserted the following paragraph—
“(aa)to take the measures provided for by sections 8A to 16 below for the purpose of indemnifying (in whole or in part) or otherwise assisting or protecting—
[F2(i)members of friendly societies who have entered into contracts of insurance with societies of which they are members;]
(ii)others who have been or may be prejudiced in consequence of the inability of friendly societies to meet their liabilities under such contracts; and
(iii)persons who have entered into contracts of insurance with friendly societies for the provision of group insurance benefits to the members of a group scheme (within the meaning of section 11 of the Friendly Societies Act 1992);
but, in relation to benefits provided by a friendly society in pursuance of such a scheme, a person falling within sub-paragraph (iii) above is not entitled to be indemnified, assisted or protected if the members of the scheme are required to be members of the society. ”
(2)In paragraph (b) of that subsection, after the word “companies" there shall be inserted “ friendly societies ”.
Textual Amendments
F2Sch. 17 para. 1(1) words substituted (19.3.1997) by 1997 c. 18, ss. 20, 23(2), Sch. 4 para. 1
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