Paragraph 38

(1)

Section 89^f1 (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”.

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