SCHEDULE 5Amendments of the Friendly Societies Act 1974
I125
In section 111(1)116 (interpretation)—
a
omit the definition of “the Authority”; and
b
at the appropriate places, insert—
“the appropriate authority” means—
- a
in relation to a society which is a PRA-authorised person, the PRA; and
- b
in relation to a society which is not a PRA-authorised person, the FCA;
“the FCA” means the Financial Conduct Authority;
“the PRA” means the Prudential Regulation Authority;
“PRA-authorised person” has the meaning in section 2B of the Financial Services and Markets Act 2000;