SCHEDULEConsequential amendments to secondary legislation

Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 200820

1

The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 200825 are amended as follows.

2

In regulation 2(1) (interpretation)—

a

omit the definition of “industrial and provident society”; and

b

after the definition of “insurance undertaking” insert—

  • “registered society” means—

    1. a

      a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014; or

    2. b

      a society registered or deemed to be registered under the Industrial and Provident Societies Act (Northern Ireland) 1969;

3

In regulations 2(6)(a) and 14(4) (industrial and provident societies) for “an industrial and provident society” substitute “a registered society”.

4

In the following provisions for “industrial and provident societies”, except where these words appear in a reference to an enactment, substitute “registered societies”—

a

regulation 4(2) (publication of accounts);

b

regulation 6(4) (appointment of auditors);

c

regulation 7(3) (functions of auditor);

d

regulation 14(1), (2) and (3);

e

paragraph 1 of Schedule 1 (modification of the Friendly and Industrial and Provident Societies Act 1968);

f

section 3A(4)(d)(ii) of that Act as applied by paragraph 3 of Schedule 1;

g

paragraph 1 of Schedule 2 (modification of the Industrial and Provident Societies Act (Northern Ireland) 1969); and

h

section 37A(4)(d)(ii) of that Act as applied by paragraph 3 of Schedule 2.

5

In regulation 14—

a

for the heading substitute “Registered societies”; and

b

for “Industrial and Provident Societies (Group Accounts) Regulations 1969” substitute “Co-operative and Community Benefit Societies (Group Accounts) Regulations 1969”.