Section 141 Indemnity schemes.
United Kingdom
Any two or more registered friendly societies F1or, until the date on which section 97 of the Friendly Societies Act 1992 comes into force, any two or more friendly societies may, notwithstanding any provision to the contrary in their rules, enter into arrangements for the purpose of making funds available to meet losses incurred by any society which is a party to the arrangements or by the members of any such society by virtue of their membership of it.
No such arrangements shall come into force unless they have been approved by F2the Friendly Societies Commission.
Annotations
Textual amendments
- F1
-
Words in s. 141(1) inserted (1.5.1993) by S.I. 1993/932, reg.6.
- F2
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Words in s. 141(2) substituted (1.2.1993 for specified purposes and 28.4.1993 for all remaining purposes) by Friendly Societies Act 1992 (c. 40), s. 98, Sch. 18 Pt. I para. 3 (with ss. 7(5), 93(4)); S.I. 1993/16, art. 2, Sch. 4; S.I. 1993/1186, art. 2(2), Sch. 2.
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(c) (with savings in art. 292)