(1)Subsection (2) below applies where—
(a)it appears to the Commission that there has been or is, on the part of an authorised friendly society to which section 37(2) or (3) below applies or its committee of management, a failure to satisfy the 8th criterion in section 50(3) below; and
(b)the Commission proposes, on that ground, to impose conditions under section 36 above on the society’s authorisation.
(2)If the Commission considers it expedient to do so in order to protect the interests of members of the society, the Commission may direct that, for the period—
(a)beginning with service of notice of the proposal underparagraph 7(1) or 8(2) of Schedule 13 to this Act, and
(b)ending with service of the Commission’s decision notice,
the proposed conditions shall be deemed to have been imposed under section 36 above on the society’s authorisation.
(3)In subsection (2) above “the Commission’s decision notice" means—
(a)in relation to a notice of the proposal under paragraph 7(1) of Schedule 13 to this Act, notice of the Commission’s decision under paragraph 7(5) of that Schedule or notice of an alternative proposal under paragraph 8(2) of that Schedule;
(b)in relation to a notice of the proposal under paragraph 8(2) of that Schedule, notice of the Commission’s decision under paragraph 8(6) of that Schedule or notice of an alternative proposal under the said paragraph 8(2).
(4)The Commission may revoke a direction under this section if it is satisfied that the direction is no longer needed for the purpose for which it was imposed.
(5)The provisions of this Act (so far as applicable)—
(a)apply in relation to a decision of the Commission to give a direction under this section as they apply in relation to a decision of the Commission to impose conditions under section 36 above, and
(b)apply to conditions which, by virtue of such a direction, are deemed to have been imposed under that section as they apply to conditions so imposed.]
Textual Amendments
F1S. 36A inserted (1.1.1994) by S.I. 1993/2519, reg. 2(1)
Modifications etc. (not altering text)
C1S.36A(2) excluded (20.7.2001) by S.I. 2001/2636 , art. 45(3)