F1Part I Functions of the F7Financial Conduct Authority and the Prudential Regulation Authority

Annotations:
Amendments (Textual)
F1

Pt. 1 (s. 1) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) for Pt. 1 (ss. 1-4) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 Pt. 1 para. 54 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F11F3Functions of the Financial Conduct Authority and the Prudential Regulation Authority in relation to friendly societies

1

The F4Financial Conduct Authority (“the FCA”) has the following functions under this Act and the 1974 Act in relation to friendly societies—

a

to secure that the purposes of each friendly society are inconformity with this Act and any other enactment regulating the purposes of friendly societies;

b

to administer the system of regulation of the activities of friendly societies provided for by or under this Act and the 1974 Act; and

c

to advise and make recommendations to the Treasury and other government departments on any matter relating to friendly societies.

F21A

The function in subsection (1)(c) is also a function of the Prudential Regulation Authority (“the PRA”).

2

The F5FCA and the PRA also have, in relation to such societies, the other functions conferred on F6them respectively by or under this Act or any other enactment.