Direction under section 53 of the Friendly Societies Act
49.—(1) This article applies where—
(a)immediately before commencement a friendly society was subject to a direction given under section 53 of the Friendly Societies Act; and
(b)that friendly society has, at commencement, a Part IV permission.
(2) The direction has effect after commencement as if it were a requirement imposed by the Authority under section 43.