Article 49 Power of societies to disapply obligation to appoint auditors

Section 38A of the Industrial and Provident Societies Act (Northern Ireland) 1969^f1 is amended as follows.

In paragraph (3)(d) the words “within the meaning of the Banking Act 1987” are repealed.

After paragraph (3) insert—

“(3A)

In paragraph (3)(d), the reference to a deposit must be read with—

(a)

section 22 of the Financial Services and Markets Act 2000;

(b)

any relevant order under that section; and

(c)

Schedule 2 to that Act.”.