Regulation 3 Interpretation of the Principal Regulations

Regulation 2 of the Principal Regulations is amended as follows.

At the appropriate place insert—

• ““the 1965 Act” means the Industrial and Provident Societies Act 1965^f1;”;

• ““the 1969 Northern Ireland Act” means the Industrial and Provident Societies Act (Northern Ireland) 1969^f2;”;

• ““the Authority” means the Financial Services Authority;”;

• ““permitted industrial and provident society” means an industrial and provident society which has a restriction on the use of its assets in accordance with regulation 4 of the Community Benefit Societies (Restriction on Use of Assets) Regulations 2006^f3 or regulation 4 of the Community Benefit Societies (Restriction on Use of Assets) Regulations (Northern Ireland) 2006^f4;”.

Omit the definitions of “the 1985 Act” and “the 1986 Order”^f5.

In sub-paragraph (a) of the definition of “asset-locked body” for “or a charity” substitute “a charity or a permitted industrial and provident society”^f6.

For the definition of “governmental authority” substitute—

• ““governmental authority” includes—

  1. (a)

     any national, regional or local government in the United Kingdom or elsewhere;

  2. (b)

     the European Community;

  3. (c)

     any inter-governmental organisation; and

  4. (d)

     any organisation which is able to make rules or adopt decisions which are legally binding on any governmental authority falling within sub‑paragraph (a), (b) or (c);

  or any of their organs, institutions or agencies;^f7.”.

For the definition of “public authority” substitute—

• ““public authority” includes—

  1. (a)

     a court or tribunal; and

  2. (b)

     any person certain of whose functions are functions of a public nature,

  whether in the United Kingdom or elsewhere;.”.

In the definition of “subsidiary” for “given to it in section 736 of the 1985 Act or Article 4 of the 1986 Order” substitute “given to it by section 1159 of the 2006 Act”^f8.