The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

Amendments consequential on dissolution of Registrar of Friendly Societies

178.—(1) The Superannuation and other Trust Funds (Validation) Act 1927 is amended as follows.

(2) In the following sections for the word “registrar” (wherever it appears), substitute “Authority”; for the word “he” (wherever it appears) substitute “it” and for the word “his” (wherever it appears) substitute “its”—

(a) section 3(1), 3(2), 3(3), 3(4) and 3(5);

(b) section 4(1) and 4(2);

(c) section 5(2);

(d) the side heading to section 6 and section 6(1).

(3) Section 3(6) is repealed.

(4) In section 6(2) (supplementary provisions as to powers of registrar) for the words “Chief Registrar, or in Scotland the assistant registrar for Scotland” substitute “Authority” and for the word “he” substitute “it”.

(5) In section 7 (penalties for default) for the word “registrar” (wherever it appears) substitute “Authority”.

(6) In section 8 (interpretation)—

(a) for the definition of “actuary”(1) substitute—

““Actuary” means a person who satisfies the requirements which are specified by the Authority for the purposes of section 340(6) of the Financial Services and Markets Act 2000 in so far as that subsection relates to actuaries;”;

(b) the definition of “Chief Registrar” and “Registrar” is repealed; and

(c) after the definition of “auditor” insert—

““Authority” means the Financial Services Authority;”.

(7) Section 10 (reports to Parliament) is repealed.

(1)

The definition of “actuary” was amended by the Friendly and Industrial and Provident Societies Act 1968 (c. 55), Schedule 1 paragraph 9.