SCHEDULE 9Amendments of the Friendly Societies Act 1992
38.
(1)
Section 89226 (power to alter requirements for transfer by friendly society) is amended as follows.
(2)
Except as provided in sub-paragraph (5), for “Authority”, in each place, substitute “appropriate authority”.
(3)
After subsection (1), insert—
“(1A)
The PRA must consult the FCA before giving a direction under this section.”.
(4)
After subsection (6), insert—
“(6A)
The PRA must send to the FCA a copy of any direction it issues under this section.”.
(5)
In subsection (7), for “Authority” substitute “FCA”.
(6)
In the heading, for “Authority” substitute “appropriate authority”.