Friendly Societies Act 1992

36 Imposition of conditions on current authorisation

(1) If the Commission considers it expedient to do so, it may (in accordance with Part II of Schedule 13 to this Act)—

(a) impose conditions on a friendly society’s authorisation, or

(b) where an authorisation is subject to conditions, impose conditions which vary the current conditions (whether by adding to, amending or replacing any of them);

and the conditions that may be so imposed include any condition that might be imposed on the grant of authorisation.

(2) Without prejudice to the generality of subsection (1) above, conditions so imposed may require—

(a) the submission to the Commission of a plan for the restoration of a sound financial position or a short-term financial scheme;

(b) modification of the plan or scheme (or the plan or scheme as previously modified) if the Commission considers it inadequate; and

(c) the implementation of the plan or scheme if the Commission consider it adequate.

(3) Subsection (7) of section 34 above applies to conditions imposed under this section as it applies to conditions imposed under that section.