The Financial Services Act 2012 (Mutual Societies) Order 2013

37.—(1) Section 93(1) (amalgamations) is amended as follows.

(2) In subsection (2)(d), for “Authority”—

(a) in the first place, substitute “appropriate authority”; and

(b) in the second place, substitute “FCA and, if the society is a PRA-authorised person, the PRA”.

(3) In subsection (3)—

(a) for “Authority” substitute “appropriate authority”;

(b) before “is satisfied” insert “the FCA”; and

(c) for “it shall” substitute “the FCA must”.

(4) In subsection (4), for “Authority” substitute “appropriate authority”.

(5) In subsection (6)—

(a) for “Authority”, in each place, substitute “appropriate authority”; and

(b) for “Part IV” substitute “Part 4A”.

(6) In subsection (6A), for “subsection (9) of section 52 of that Act by virtue of paragraph (a) of that subsection” substitute “subsection (5) of section 55V of that Act by virtue of paragraph (a) or (b) of that subsection”.

(7) In subsection (6B)—

(a) for “section 55” substitute “section 55Z3”; and

(b) for “Part IV” substitute “Part 4A”.

(8) In subsection (6C)—

(a) omit “the Authority from taking”; and

(b) after “decision notice” insert “from being taken”.

(1)

Section 93 was amended by S.I. 2001/2617 and S.I. 2010/22. There are other amending instruments, but none is relevant.