Paragraph 13 I1

United Kingdom

(1)

Section 87^f1 (power to apply for winding up of registered friendly societies) is amended as follows.

(2)

In subsection (1), for “Authority”—

(a)

in the first place, substitute “FCA or the PRA”; and

(b)

in the second place, substitute “FCA, after consulting the PRA, or the PRA, after consulting the FCA,”.

(3)

After subsection (2), insert—

“(3)
Subsection (1) does not require the FCA to consult the PRA if the society in question is not a PRA-authorised person.

(4)
The PRA may only present a petition under subsection (1) in respect of a society which is a PRA-authorised person.”.

(4)

In the heading, for “Authority” substitute “FCA and of PRA”.

Annotations

Commencement

I1: Sch. 5 para. 13 in force at 1.4.2013, see art. 1(1)

Footnotes

f1: Section 87 was amended by paragraph 34 of Schedule 16 to the Friendly Societies Act 1992 and S.I. 2001/2617.