7.—(1) Section 41(1) (valuations) is amended as follows.U.K.
(2) In subsection (1)—
(a)in paragraph (b), for “Authority” substitute “FCA and, if the registered society or branch is a PRA-authorised person, the PRA”; and
(b)in the closing words of that subsection, for “Authority” substitute “appropriate authority”.
(3) In subsection (3)—
(a)in the opening words of that subsection, omit “to the Authority”; and
(b)in paragraph (b), for “Authority” substitute “appropriate authority”.
(4) In subsection (5), for “Authority” substitute “appropriate authority”.
(5) In subsection (6)—
(a)in the opening words of that subsection—
(i)for “Authority” substitute “appropriate authority”; and
(ii)for “Authority’s” substitute “its”; and
(b)in paragraph (b), omit “to the Authority”.
Commencement Information
I1Sch. 5 para. 7 in force at 1.4.2013, see art. 1(1)
Section 41 was amended by paragraph 12 of Schedule 16 to the Friendly Societies Act 1992 and S.I. 2001/2617.