SCHEDULE 5Amendments of the Friendly Societies Act 1974
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1
Section 42101 (regulations and directions relating to valuations) is amended as follows.
2
In subsection (2), for “the Authority”, in each place, substitute “the FCA and, if the registered society or branch is a PRA-authorised person, the PRA”.
3
In subsection (4)—
a
in the opening words of that subsection, for “Authority”, in each place, substitute “appropriate authority”; and
b
in paragraph (b), for “Authority”, in each place, substitute “FCA and, if the registered society or branch is a PRA-authorised person, the PRA”.
4
In subsection (5), for “Authority” substitute “appropriate authority”.