1997 No. 2849
The Friendly Societies (Amendment) Regulations 1997
Made
Laid before Parliament
Coming into force
The Friendly Societies Commission, being a Department designated1 for the purposes of section 2(2) of the European Communities Act 19722 in relation to the authorisation of the carrying on by friendly societies of insurance business and the regulation of such business and its conduct and in relation to anything supplementary or incidental to such matters, in exercise of the powers conferred on it by that section, hereby makes the following Regulations:—
Citation, commencement and extent1
1
These Regulations may be cited as the Friendly Societies (Amendment) Regulations 1997 and shall come into force on 1st January 1998.
2
These Regulations extend to Northern Ireland.
Interpretation2
1
In these Regulations—
“the 1992 Act” means the Friendly Societies Act 19923;
“the commencement date” means 1st January 1998.
2
In these Regulations expressions which are also used in the 1992 Act have the same meanings as in that Act.
AMENDMENTS OF THE 1992 ACT
Substitution of “EEA State” for “Member State”3
In subsection (7)(c)of section 67B4 (statutory notice), subsection (2)(a)(i) of section 875 (actuary’s report as to margain of solvency), subsection (1)(a)(i) of section 886 (actuary’s report on transfer of long term business) and section 119B7 (meaning of “main agent”) of, and Schedules 13B8 (recognition in other EEA States of friendly societies), 13C9 (information for members of friendly societies) and 15, Part II10 (amalgamations, transfers of engagements and conversions) to the 1992 Act for the words “member State” and “a member State,” wherever they occur, there shall be substituted “EEA State” and “an EEA State” respectively.
Substitution of “EEA States” for “European Community”4
Consequential Repeals of the 1992 Act5
The provisions of the 1992 Act specified in the Schedule to these Regulations are repealed to the extent specified in the Schedule.
MISCELLANEOUS AND SUPPLEMENTAL
Amendment of the Friendly Societies (Insurance Business) Regulations 19946
In the Friendly Societies (Insurance Business) Regulations 199413, regulation 55 is revoked and, in regulations 56 and 58, for the words “member State” and “a member State”, wherever they occur there shall be substituted “EEA State” and “an EEA State” respectively and, in regulation 58(2), the words “or EEA State” shall be omitted.
Transitional Provisions7
1
If a friendly society to which section 37(2) or (3) of the 1992 Act applies was immediately before the commencement date lawfully providing insurance of any class or part of a class in an EEA State which is not a member State, it shall be treated for the purposes of the 1992 Act as if the requirements of paragraph 5 of Schedule 13B to that Act have been complied with in relation to insurance business of that class or part of a class provided in that State.
2
If a friendly society to which section 37(2) or (3) of the 1992 Act applies was immediately before the commencement date lawfully carrying on direct insurance business of a class or part of a class through an overseas branch in an EEA State which is not a member State, it shall be treated for the purposes of the 1992 Act as if the requirements of paragraph 1 of Schedule 13B to that Act have been complied with in relation to insurance business of that class or part of a class carried on in that State.
In witness whereof the common seal of the Friendly Societies Commission is hereunto fixed, and is authenticated by me, a person authorised under paragraph 13 of Schedule 1 to the Friendly Societies Act 1992, on
SCHEDULEREPEALS
Chapter | Short title | Extent of Repeal |
---|---|---|
Friendly Societies Act 1992. | In Schedule 13B, Part II, paragraphs 9 and 10. In Schedule 13B, Part III, paragraph 11(3). In Schedule 13B, Part IV, paragraphs 13(1)(b), 13(1)(c)(ii), and paragraph 13(2) and the word “or” in paragraph 13(1)(c)(i). In Schedule 15, Part II, in paragraph 6(1A), the word “either”, in sub-paragraph (a), “(a)” and the word “or” and sub-paragraph (b), in paragraph 15, in sub-paragraph (3), the words “(other than an EFTA policy)” and sub-paragraphs (4) and (5), in paragraph 15A, in sub-paragraph (3), the words “(other than an EFTA policy)” and sub-paragraphs (4) and (5), in paragraph 16A(1), the word “either”, in sub-paragraph (a), “(a)” and the word “or” and sub-paragraph (b), in paragraph 16A(2)(a) and (3), the words “or, as the case may be, the EEA State in which the risk is situated”, in paragraph 16B(1), the word “either”, in sub-paragraph (a), “(a)” and the word “or” and sub-paragraph (b), in paragraph 16B(2)(a) and (3) the words “or, as the case may be, the EEA State”, in paragraph 18, sub-paragraph (3). |
(This note is not part of the Regulations)