There are currently no known outstanding effects for the Friendly Societies Act 1992, Section 21.
(1)An incorporated friendly society may be wound up voluntarily under the applicable winding up legislation if it resolves by special resolution that it be wound up voluntarily.
(2)A copy of any special resolution passed for the voluntary winding up of an incorporated friendly society shall be sent by the society to the [F1FCA and, if the society is a PRA-authorised person, the PRA] within 15 days after it is passed; and the [F2FCA] shall keep the copy in the public file of the society.
(3)A copy of any such resolution shall be annexed to every copy of the memorandum or of the rules issued after the passing of the resolution.
(4)If an incorporated friendly society fails to comply with subsection (2) or (3) above, the society shall be guilty of an offence and liable on summary conviction to a fine not exceeding level 3 on the standard scale.
(5)For the purposes of this section, a liquidator of the society shall be treated as an officer of it.
Textual Amendments
F1Words in s. 21(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 9(a) (with Sch. 12)
F2Word in s. 21(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 9(b) (with Sch. 12)
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
