Friendly Societies Act 1992

Requirements for establishment and incorporation U.K.

1 (1) Any 7 or more persons may establish a society under this Act by taking the following steps— U.K.

(a) agreeing upon the purposes of the society and upon the extent of its powers in a memorandum the provisions of which comply with the requirements of this Schedule;

(b) agreeing upon rules for the regulation of the society which comply with the requirements of this Schedule; and

(c) sending to the [F1 FCA] 3 copies of the memorandum and the rules, each copy signed by at least 7 of those persons (or, if there are only 7, by all of them) and (unless the secretary is to be elected) by the intended secretary.

(2) Where two or more friendly societies propose to amalgamate under section 85 above, they shall establish their successor society by—

(a) agreeing upon the purposes of their successor and upon the extent of its powers in a memorandum the provisions of which comply with the requirements of this Schedule;

(b) agreeing upon rules for the regulation of their successor which comply with the requirements of this Schedule;

(c) each approving the memorandum and the rules by special resolution; and

(d) sending to the [F1 FCA] 3 copies of the rules and of the memorandum, each copy signed by the secretary of each of the societies participating in the amalgamation.

(3) Where copies of the memorandum and the rules are sent to the [F1 FCA] in accordance with sub-paragraph (1)(c) or (2)(d) above, the [F1 FCA], if satisfied that—

(a) the memorandum and the rules are in conformity with this Act; and

(b) the intended name of the society is not, in its opinion, undesirable,

shall register the society and issue it with a certificate of incorporation.

(4) The [F1 FCA] shall not register a society as the successor society to any friendly societies proposing to amalgamate unless [F2 the appropriate authority] F3 . . . has confirmed the proposed amalgamation under section 85 above.

[F4 (5) The [F1 FCA] shall not register a society which, if it were registered F5 . . ., would be a society to which section 37(2) or (3) above applies if the [F1 FCA] is satisfied that the principal place of business of the society is to be situated outside the United Kingdom; F5 . . ..]

Textual Amendments

F1 Word in Sch. 3 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 51(2) (with Sch. 12)

F2 Words in Sch. 3 para. 1(4) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 51(3) (with Sch. 12)

F3 Words in Sch. 3 para. 1(4) repealed (1.12.2001) by S.I. 2001/2617, art. 2(b), 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F4 Sch. 3 para. 1(5) inserted (18.7.1996) by S.I. 1996/1669, reg. 14(2)

F5 Words in Sch. 3 para. 1(5) repealed (1.12.2001) by S.I. 2001/2617, art. 2(b), 13(2), Sch. 4 (with art. 13(2), Sch. 5); S.I. 2001/3538, art. 2(1)

Commencement Information

I1 Sch. 3 para. 1 wholly in force; Sch. 3 para. 1 not in force at Royal Assent see s. 126(2); Sch. 3 para. 1 in force at 1.2.1993 by S.I. 1993/16, art. 2, Sch. 3

2 (1) A registered friendly society may be incorporated under this Act only if the following steps are taken— U.K.

(a) the proposal to apply for incorporation is submitted to the members of the society for their consent by the procedure required for a proposal to amend the rules (or, in the case of a society with branches, the general rules) of the society;

(b) consent to the application is given in accordance with that procedure;

(c) the society agrees, in accordance with that procedure—

(i) upon the purposes of the society after incorporation, and upon the extent of its powers, in a memorandum the provisions of which comply with the requirements of this Schedule; and

(ii) upon rules for the regulation of the society after incorporation which comply with the requirements of this Schedule; and

(d) there are sent to the [F1 FCA]—

(i) 3 copies of the memorandum and the rules, each signed by at least 7 members and by the secretary of the society; and

(ii) a statutory declaration by the secretary that the steps mentioned in paragraphs (a) and (b) above were taken.

(2) Where copies of the memorandum, the rules and the statutory declaration are sent to the [F1 FCA] in accordance with paragraph (c) of sub-paragraph (1) above, the [F1 FCA], if satisfied that—

(a) the steps mentioned in sub-paragraph (1)(a) and (b) were taken;

(b) the provisions of the memorandum and the rules are in conformity with this Act; F6 . . .

(c) the name proposed for the society after incorporation is not, in its opinion, undesirable,

shall register the society and issue it with a certificate of incorporation.

F6 [F7 and

(d) in the case of a society to which section 37(2) or (3) above applies, the principal place of business of the society is situated in the United Kingdom.]

Textual Amendments

F1 Word in Sch. 3 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 51(2) (with Sch. 12)

F6 Word in Sch. 3 para. 2(2)(b) omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 14(3)

F7 Sch. 3 para. 2(2)(d) and the word “and" immediately preceding it inserted (18.7.1996) by S.I. 1996/1669, reg. 14(3)

Commencement Information

I2 Sch. 3 para. 2 wholly in force; Sch. 3 para. 2 not in force at Royal Assent see s. 126(2); Sch. 3 para. 2 in force at 1.2.1993 by S.I. 1993/16, art. 2, Sch. 3

3 U.K. On registering a society under paragraph 1 or 2 above, the [F1 FCA] shall—

(a) retain and register one copy of the memorandum and of the rules;

(b) return another copy to the secretary of the society, together with a certificate of registration; and

(c) keep another copy, a copy of the certificate of incorporation and a copy of the certificate of registration of the memorandum and the rules, in the public file of the society.

Textual Amendments

F1 Word in Sch. 3 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 51(2) (with Sch. 12)

Commencement Information

I3 Sch. 3 para. 3 wholly in force; Sch. 3 para. 3 not in force at Royal Assent see s. 126(2); Sch. 3 para. 3 in force at 1.2.1993 by S.I. 1993/16, art. 2, Sch. 3