2006 No. 265
The Friendly and Industrial and Provident Societies Act 1968 (Audit Exemption) (Amendment) Order 2006
Made
Coming into force
This Order is made in exercise of the powers conferred by section 2 of the Industrial and Provident Societies Act 20021.
There has been a modification of the statutory provisions in force in Great Britain relating to companies2.
It appears to the Treasury to be expedient to modify the relevant statutory provisions3 for the purpose of assimilating the law relating to companies and the law relating to industrial and provident societies.
A draft of this instrument has been laid before Parliament in accordance with section 2(5) of that Act and approved by a resolution of each House of Parliament.
Accordingly the Treasury make the following Order:
Citation and commencement1
This Order may be cited as the Friendly and Industrial and Provident Societies Act 1968 (Audit Exemption) (Amendment) Order 2006 and comes into force on 6th April 2006.
Amendment of the Friendly and Industrial and Provident Societies Act 19682
1
Section 4A of the Friendly and Industrial and Provident Societies Act 19684 (power of societies to disapply section 4) is amended as follows.
2
In subsection (1)(a), for “£1,400,000” substitute “£2,800,000”.
3
In subsection (1)(b), for “£350,000” substitute “£5,600,000”.
Transitional provision3
Article 2 has effect in relation to any year of account ending two months or more after the date on which this Order comes into force.
Signatory text
(This note is not part of the Order)