http://www.legislation.gov.uk/id/uksi/1993/2213

http://www.legislation.gov.uk/uksi/1993/2213/schedule/2/made

The Friendly Societies Act 1992 (Commencement No.6 and Transitional Provisions) Order 1993

Friendly societies

Business awards and grants

Income

King's Printer of Acts of Parliament

2019-07-09

FRIENDLY SOCIETIES

Article 2 of this Order brings into force for all remaining purposes the provisions of the Friendly Societies Act 1992 listed in Schedules 2 and 5 on 13th September 1993 and 1st January 1994 respectively, brings into force generally the provisions of the Act listed in Schedules 3 and 6 on 13th September 1993 and 1st January 1994 respectively and brings into force the provisions of the Act listed in Schedule 4 for specified purposes on 13th September 1993.The provisions listed in Schedule 2 concern the management and administration of friendly societies and the regulation of their business.The provisions listed in Schedule 3 concern amalgamations, transfers of engagements and the conversion of friendly societies into companies.Schedule 4 lists various regulation-making powers and Schedule 5 lists provisions on the appointment of actuaries, investigations into the financial position of friendly societies and accounts and audit.Schedule 6 comprises a number of miscellaneous provisions.The provisions of Schedules 2 and 5 were brought into force for friendly societies incorporated under the 1992 Act by the Friendly Societies Act 1992 (Commencement No.3 and Transitional Provisions) Order 1993 (S.I. 1993/16) (C.1) and will now come into force for friendly societies registered under the Friendly Societies Act 1974.Article 2 also brings into force section 31 of the Act which requires friendly societies to be authorised to carry on business in the UK in relation to registered friendly societies whose specified income determined in accordance with Schedule 1 to the Order exceeded £3,000 for 1991 or for the last preceding year for which an annual return was submitted.Section 31 is brought into force on 1st January 1994 for such societies which do not apply for authorisation before that date and is also brought into force on that date in respect of the insurance business for which a society is deemed to be authorised under section 32(7).Section 31 is brought into force on 1st July 1994 for such societies which do apply for authorisation before 1st January 1994.

SCHEDULE 2PROVISIONS OF THE 1992 ACT COMING INTO FORCE FOR ALL REMAINING PURPOSES ON 13TH SEPTEMBER 1993

Article 2(1)

(1)	(2)
Provisions of the Act	Subject matter of provisions
Section 27(5), to the extent that it relates to the provision of Part II of Schedule 11 specified in this Schedule	Dealings with members of committees of management
Section 30, to the extent that it relates to the provision of Schedule 12 specified in this Schedule	Meetings and resolutions
Section 32, except subsection (7)	Grant of authorisation by Commission: general
Section 33	Applications from certain existing friendly societies
Sections 34 and 35	Grant of unconditional or conditional authorisation and extension of current authorisation
Sections 36 to 43	Imposition of conditions on current authorisation, restriction on combinations of business, restriction on commercial business, power to direct application for fresh authorisation, withdrawal of authorisation in respect of new business, withdrawal of authorisation to carry on insurance business, contracts effected in contravention of section 31(1) and interpretation of Part IV
Section 44(8)	Power to make regulations prescribing qualifications for appointment of actuaries by societies with long term business
Section 45	Valuation of assets and liabilities
Section 46, subsections (1), (3) and (8)	Annual investigation into condition of certain societies
Section 49(1)	Failure to maintain margin of solvency in accordance with regulations
Section 50	Criteria of prudent management
Section 70, subsections (5), (6) and (7)	Power to make regulations concerning contents and form of annual accounts
Section 72(2), to the extent that it relates to the provision of Schedule 14 specified in this Schedule	Auditors
Section 95, to the extent that it relates to the provision of Schedule 16 specified in this Schedule	Amendments of Friendly Societies Act 1974
Section 100, to the extent that it relates to the provision of Part I of Schedule 19 specified in this Schedule	Industrial assurance
In Part II of Schedule 11, paragraph 16	Power to prescribe series of monetary amounts by order
In Schedule 12, paragraph 7	Special resolutions
Schedule 13	Authorisation: supplementary provisions
In Schedule 14, paragraph 17	Remuneration of auditors and their associates for non-audit work
In Schedule 16, paragraph 32 (except subsection (8) of section 84A)	Amendment of Friendly Societies Act 1974
In Part I of Schedule 19, paragraph 14	Amendment of Industrial Assurance and Friendly Societies Act 1948