OpenLegislation

Friendly Societies Act 1992

1992 c. 40 · Enacted 16 March 1992 · Extends to United Kingdom

Not fully up to date. 1 change made by later legislation has not yet been written into this text, which is revised to 31 December 2020.

See the changes not yet applied
ProvisionChangeMade by
s. 20(6)words repealedBudget (Scotland) Act 2005 Sch. 4 para. 12(6)(h)(iii)

An Act to make further provision for friendly societies; to provide for the cessation of registration under the Friendly Societies Act 1974; to make provision about disputes involving friendly societies or other bodies registered under the Friendly Societies Act 1974 and about the functions of the Chief Registrar of friendly societies; and for connected purposes.

[16th March 1992]

C1C2Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—C3

Annotations to the whole text

Modifications

C1

Act: functions transferred (18.11.1998) by S.I. 1998/2842, art. 2, Sch. Pt. II para. 65

C2

Power to amend conferred (E.W.S.) (7.2.1994) by 1993 c. 48,s.162, (with s. 6(8), 164); S.I. 1994/86, art. 2

C3

Act: power to amend conferred (24.1.2013) by Financial Services Act 2012 (c. 21), ss. 50(2)(i), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(a), Sch. Pt. 1

Contents

  1. Part I: Functions of the Financial Conduct Authority and the Prudential Regulation Authority
  2. 1Functions of the Financial Conduct Authority and the Prudential Regulation Authority in relation to friendly societies
  3. 2Financial provision for Commission.
  4. 3Accounts of Commission and audit.
  5. 4Annual and other reports.
  6. Part II: Incorporated Friendly Societies
  7. Constitution and purposes of incorporated friendly societies
  8. 5Establishment of incorporated friendly societies.
  9. 6Incorporation of registered friendly societies.
  10. 7Purposes and powers of an incorporated friendly society.
  11. 8Effect of the memorandum of an incorporated society.
  12. 9Effect of the rules of an incorporated society.
  13. 10Social and benevolent activities.
  14. 11Group insurance.
  15. 12Reinsurance.
  16. 13Control of subsidiaries and other bodies corporate.
  17. Powers of incorporated friendly societies
  18. 14Investment of funds.
  19. 15Holding of land for purposes other than investment.
  20. 16Assistance to subsidiaries and jointly controlled bodies.
  21. 17Loans to assured members.
  22. Benefit terms
  23. 18Terms on which benefits are available.
  24. Dissolution and winding up
  25. 19Modes of dissolution and winding up.
  26. 20Dissolution by consent.
  27. 21Voluntary winding up.
  28. 22Winding up by court: grounds and petitioners.
  29. 23Application of winding up legislation to incorporated friendly societies.
  30. 24Continuation of long term business.
  31. 25Power of court to declare dissolution void.
  32. 26Cancellation of registration.
  33. Part III: Management and Administration
  34. Committee of management and other officers
  35. 27Committee of management.
  36. 28Chief executive and secretary.
  37. 29Notification of officers to FCA.
  38. Meetings and resolutions
  39. 30Meetings and resolutions.
  40. Part IV: Authorisation of Friendly Societies’ Business
  41. Restriction on carrying on unauthorised business
  42. 31Restriction on carrying on unauthorised insurance or non-insurance business. Repealed
  43. Authorisation to carry on business
  44. 32Grant of authorisation by Commission: general. Repealed
  45. 33Applications from certain existing friendly societies. Repealed
  46. 34Grant of unconditional or conditional authorisation. Repealed
  47. 35Extension of current authorisation. Repealed
  48. 36Imposition of conditions on current authorisation. Repealed
  49. 36A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  50. Restrictions on business of certain authorised societies
  51. 37Restriction on combinations of business.
  52. 38Restriction on commercial business. Repealed
  53. Powers of Commission in relation to authorised societies
  54. 39Power to direct application for fresh authorisation. Repealed
  55. 40Withdrawal of authorisation in respect of new business. Repealed
  56. 41Withdrawal of authorisation to carry on insurance business. Repealed
  57. Supplementary
  58. 42Contracts effected in contravention of section 31(1). Repealed
  59. 43Interpretation of Part IV. Repealed
  60. Part V: Regulation of Friendly Societies’ Business
  61. Preliminary
  62. 44Appointment of actuary by societies with long term business. Repealed
  63. 45Valuation of assets and liabilities. Repealed
  64. Actuarial investigations
  65. 46Annual investigation into condition of certain societies. Repealed
  66. 47Triennial investigations into condition of certain societies. Repealed
  67. Margins of solvency
  68. 48Margins of solvency in relation to insurance business of certain societies. Repealed
  69. 49Failure to maintain prescribed margin of solvency. Repealed
  70. Adequacy of assets and premiums
  71. 49AAdequacy of assets. Repealed
  72. 49BAdequacy of premiums in respect of long term insurance. Repealed
  73. Criteria of prudent management
  74. 50The criteria of prudent management. Repealed
  75. Powers of FCA and PRA
  76. 51Power to forbid acceptance of new members.
  77. 52Applications to court.
  78. 52A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  79. 53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  80. 54Supervision of activities of subsidiaries etc.
  81. 55Supervision of group insurance business.
  82. 55ASupervision of controllers.
  83. 56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  84. Covering of risks situated in another member State
  85. 57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  86. 57A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  87. Notices, hearings and appeals
  88. 58Rights of appeal.
  89. 58ANotices, hearings and appeals.
  90. 59Determination of appeals.
  91. 60Costs, procedure and evidence.
  92. 61Further appeals on points of law.
  93. Information
  94. 62Powers to obtain information and documents etc.
  95. 62AEntry of premises under warrant under section 176 of the Financial Services and Markets Act 2000.
  96. 63Confidentiality of certain information.
  97. 63ADisclosure of information.
  98. 63Confidentiality of certain information.
  99. 64Exceptions from restrictions on disclosure.
  100. Inspections etc.
  101. 65Investigations on behalf of FCA or PRA.
  102. 65AProtection of supplies
  103. 66Inspections and special meetings: general.
  104. 67Inspections: supplementary provision.
  105. 67A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  106. 67B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  107. 67C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  108. 67D. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  109. Part VI: Accounts and Audit
  110. Records . . .
  111. 68Accounting records ...
  112. Annual accounts of friendly societies and registered branches
  113. 69Duty to prepare accounts. Repealed
  114. 69ADuty to prepare individual accounts
  115. 69BFriendly Societies Act individual accounts
  116. 69CForm and contents of Friendly Societies Act individual accounts
  117. 69DIAS individual accounts
  118. 69EDuty to prepare group accounts
  119. 69FFriendly Societies Act group accounts
  120. 69GForm and content of Friendly Societies Act group accounts
  121. 69HIAS group accounts
  122. 69IConsistency of accounts
  123. 69JDisclosures relating to members of the committee of management and employees of the society
  124. 69KDisclosures about related undertakings
  125. 69LDisclosures relating to off-balance-sheet arrangements
  126. 69MDisclosure of auditor remuneration
  127. 70Contents and form of annual accounts. Repealed
  128. Committee of management’s annual report
  129. 71Report on a friendly society’s affairs by the committee of management.
  130. 71ABusiness review
  131. Auditors
  132. 72Auditors’ appointment, tenure, qualifications, etc.
  133. Auditors’ report on annual accounts
  134. 73Auditor’s report.
  135. 74Signature of auditor’s report
  136. 74ASenior statutory auditor
  137. 74BNames to be stated in copies of auditor’s report filed or published
  138. 74CCircumstances in which names may be omitted
  139. 75Auditor’s rights to information and to attend meetings.
  140. 76Approval and signing of accounts.
  141. 77Information on appointed actuary to be annexed to balance sheet.
  142. Laying and furnishing of accounts and reports
  143. 78Laying and furnishing of accounts and reports.
  144. 78AInterpretation of Part 6
  145. 79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  146. Part VII: Disputes
  147. Disputes relating to friendly societies
  148. 80Determination of certain disputes by arbitration.
  149. 81Complaints by members of friendly societies.
  150. 82Disputes arising out of loans of surplus funds to societies of different description.
  151. Disputes relating to industrial and provident societies
  152. 83Disputes relating to industrial and provident societies. Repealed
  153. Disputes under National Savings Bank Act 1971 and National Debt Act 1972
  154. 84Disputes under the National Savings Bank Act 1971 and National Debt Act 1972. Repealed
  155. Part VIII: Amalgamations, Transfers of Engagements and Conversion of Friendly Societies into Companies
  156. Amalgamations
  157. 85Amalgamation of friendly societies.
  158. Transfers of engagements
  159. 86Transfer of engagements by or to friendly society.
  160. 87Actuary’s report as to margin of solvency.
  161. 88Actuary’s report on transfer of long term business.
  162. 89Power of appropriate authority to alter requirements for transfer by friendly society.
  163. 90Power of appropriate authority to effect transfer of engagements.
  164. 90A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  165. Conversions
  166. 91Conversion of friendly society into company.
  167. Supplementary
  168. 92Compensation for loss of office.
  169. Part IX: Miscellaneous
  170. Societies registered under 1974 Act
  171. 93Registration of societies under 1974 Act.
  172. 94Registered friendly societies and branches: validation and ratification by members.
  173. 95Amendments of 1974 Act.
  174. Societies registered in Northern Ireland
  175. 96Extension of 1974 Act to Northern Ireland.
  176. Other miscellaneous provisions
  177. 97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  178. 98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  179. 99Insurance of lives of children under 10.
  180. 100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  181. 101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  182. Part X: General and Supplementary
  183. General
  184. 102Power to amend, etc. to assimilate to company law or law relating to persons carrying on insurance business.
  185. 103Power to modify Part VI in relation to particular friendly societies.
  186. 104Public file of a friendly society.
  187. 105Exemptions from stamp duty.
  188. 105AStamp duty land tax
  189. 106Officers and auditors not to be exempted from liability.
  190. 107Time limit for commencing proceedings.
  191. 108Offences by bodies corporate, partnerships and unincorporated associations.
  192. 109Defence of due diligence.
  193. 110Jurisdiction of magistrates' courts in Northern Ireland.
  194. 111Evidence.
  195. 112Records of friendly societies.
  196. 113Service of notices.
  197. 114Form of documents.
  198. 115Provision as to information supplied for purposes of social security.
  199. Interpretation
  200. 116Friendly societies etc.
  201. 117Insurance business etc.
  202. 118Financial year of friendly societies.
  203. 119General interpretation.
  204. 119AMeaning of “associate".
  205. 119AAMeaning of electronic form, electronic means etc.
  206. 119ABCommunications by means of a website
  207. 119B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  208. Supplementary
  209. 120Amendments and repeals.
  210. 121Orders and regulations.
  211. 122. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  212. 123Power to make transitional, consequential etc. provisions.
  213. 124Northern Ireland.
  214. 125Channel Islands and Isle of Man.
  215. 126Short title and commencement.
  216. Schedule 1
  217. Status
  218. 1Paragraph 1
  219. Tenure of office of member
  220. 2Paragraph 2
  221. 3Paragraph 3
  222. Remuneration and pensions, etc. for part-time members
  223. 4Paragraph 4
  224. 5Paragraph 5
  225. Parliamentary disqualification
  226. 6Paragraph 6
  227. Staff
  228. 7Paragraph 7
  229. Proceedings
  230. 8Paragraph 8
  231. 9Paragraph 9
  232. Performance of functions
  233. 10Paragraph 10
  234. 11Paragraph 11
  235. 12Paragraph 12
  236. Instruments
  237. 13Paragraph 13
  238. 14Paragraph 14
  239. Execution of documents in Scotland
  240. 15Paragraph 15
  241. Schedule 2The Activities of a Friendly Society
  242. Schedule 3: Establishment, Incorporation and Constitution of Incorporated Friendly Societies
  243. Requirements for establishment and incorporation
  244. 1Paragraph 1
  245. 2Paragraph 2
  246. 3Paragraph 3
  247. The memorandum
  248. 4Paragraph 4
  249. The rules
  250. 5Paragraph 5
  251. Requirements for alteration of memorandum and rules
  252. 6Paragraph 6
  253. Membership
  254. 7Paragraph 7
  255. Liability of members
  256. 8Paragraph 8
  257. Name
  258. 9Paragraph 9
  259. 10Paragraph 10
  260. Offences relating to society’s name
  261. 11Paragraph 11
  262. Change of registered office
  263. 12Paragraph 12
  264. Societies to supply copies of rules etc
  265. 13Paragraph 13
  266. Register of members
  267. 14Paragraph 14
  268. Inspection of records by members
  269. 15Paragraph 15
  270. Schedule 4: Incorporation of Registered Friendly Societies: Supplementary
  271. Preliminary
  272. 1Paragraph 1
  273. Schemes under section 6(5)
  274. 2Paragraph 2
  275. Effect of incorporation on registered society
  276. 3Paragraph 3
  277. 4Paragraph 4
  278. 5Paragraph 5
  279. 6Paragraph 6
  280. 7Paragraph 7
  281. Effect of incorporation on branches of registered society
  282. 8Paragraph 8
  283. 9Paragraph 9
  284. 10Paragraph 10
  285. Consequences of transfer
  286. 11Paragraph 11
  287. 12Paragraph 12
  288. Schedule 5: Additional Activities of Incorporated Societies
  289. Introductory
  290. 1Paragraph 1
  291. Loans out of separate loan fund
  292. 2Paragraph 2
  293. Power to set up funds for purchasing Government Securities
  294. 3Paragraph 3
  295. Investment of funds in housing association
  296. 4Paragraph 4
  297. Accumulation of members’ surplus contributions
  298. 5Paragraph 5
  299. Subscriptions to other bodies
  300. 6Paragraph 6
  301. 7Paragraph 7
  302. Schedule 6: Making of Contracts and Execution of Documents by Incorporated Friendly Societies
  303. England and Wales and Northern Ireland
  304. 1Paragraph 1
  305. 2Paragraph 2
  306. Scotland
  307. 3Paragraph 3
  308. Schedule 7
  309. Activities
  310. 1Paragraph 1
  311. 1AParagraph 1A
  312. 2Paragraph 2
  313. 3Paragraph 3
  314. 4Paragraph 4
  315. 5Paragraph 5
  316. 6Paragraph 6
  317. 7Paragraph 7
  318. 8Paragraph 8
  319. 9Paragraph 9
  320. 10Paragraph 10
  321. 11Paragraph 11
  322. 12Paragraph 12
  323. 13Paragraph 13
  324. 14Paragraph 14
  325. 15Paragraph 15
  326. Schedule 8: Provisions supplementary to Section 13
  327. 1Paragraph 1
  328. 2Paragraph 2
  329. 3Paragraph 3
  330. 3AParagraph 3A
  331. 4Paragraph 4
  332. 5Paragraph 5
  333. 6Paragraph 6
  334. 7Paragraph 7
  335. 8Paragraph 8
  336. 9Paragraph 9
  337. 10Paragraph 10
  338. 11Paragraph 11
  339. Schedule 9: Nominations by Members of Incorporated Friendly Societies and Related Matters
  340. 1Paragraph 1
  341. 2Paragraph 2
  342. 3Paragraph 3
  343. Schedule 10: Application of Companies Winding Up Legislation to Incorporated Friendly Societies
  344. Part I: General Mode of Application
  345. 1Paragraph 1
  346. 2Paragraph 2
  347. 3Paragraph 3
  348. 4Paragraph 4
  349. 5Paragraph 5
  350. Part II: Modified Application of Insolvency Act 1986 Parts IV , 6, 7, 12 and 13 and Schedule 10
  351. Preliminary
  352. 6Paragraph 6
  353. 6AParagraph 6A
  354. Members of a friendly society as contributories in winding up
  355. 7Paragraph 7
  356. 8Paragraph 8
  357. 9Paragraph 9
  358. Voluntary winding up
  359. 10Paragraph 10
  360. 11Paragraph 11
  361. 12Paragraph 12
  362. 13Paragraph 13
  363. 14Paragraph 14
  364. 15Paragraph 15
  365. 16Paragraph 16
  366. 17Paragraph 17
  367. Winding up by the court
  368. 18Paragraph 18
  369. 19Paragraph 19
  370. 20Paragraph 20
  371. 21Paragraph 21
  372. 22Paragraph 22 Repealed
  373. 23Paragraph 23
  374. 24Paragraph 24
  375. 25Paragraph 25
  376. 26Paragraph 26
  377. 27Paragraph 27
  378. 28Paragraph 28
  379. 29Paragraph 29 Repealed
  380. Winding up: general
  381. 30Paragraph 30
  382. 31Paragraph 31
  383. 32Paragraph 32
  384. Penal provisions
  385. 33Paragraph 33
  386. 34Paragraph 34
  387. 35Paragraph 35
  388. Protection of supplies
  389. 35AParagraph 35A
  390. Preferential debts
  391. 36Paragraph 36
  392. Insolvency practitioners: their qualification and regulation
  393. 36AParagraph 36A
  394. 36BParagraph 36B
  395. Part III: Modified Application of Insolvency (Northern Ireland) Order 1989
  396. Preliminary
  397. 37Paragraph 37
  398. Members of a friendly society as contributories in winding up
  399. 38Paragraph 38
  400. 39Paragraph 39
  401. 40Paragraph 40
  402. Voluntary winding up
  403. 41Paragraph 41
  404. 42Paragraph 42
  405. 43Paragraph 43
  406. 44Paragraph 44
  407. 45Paragraph 45
  408. 46Paragraph 46
  409. 47Paragraph 47
  410. 48Paragraph 48
  411. Winding up by the High Court
  412. 49Paragraph 49
  413. 50Paragraph 50
  414. 51Paragraph 51
  415. 52Paragraph 52
  416. 53Paragraph 53
  417. 54Paragraph 54
  418. 55Paragraph 55
  419. 56Paragraph 56
  420. 57Paragraph 57
  421. 58Paragraph 58
  422. 59Paragraph 59 Repealed
  423. Winding up: general
  424. 60Paragraph 60
  425. 61Paragraph 61
  426. 62Paragraph 62
  427. Penal provisions
  428. 63Paragraph 63
  429. 64Paragraph 64
  430. 65Paragraph 65
  431. Preferential debts
  432. 66Paragraph 66
  433. Insolvency practitioners: their qualification and regulation
  434. 66AParagraph 66A
  435. 66BParagraph 66B
  436. Part IV: Supplementary
  437. Dissolution of incorporated friendly society after winding up
  438. 67Paragraph 67
  439. 68Paragraph 68
  440. Insolvency rules and fees
  441. 69Paragraph 69
  442. Schedule 11: Committee of Management: Supplementary
  443. Part I: Eligibility and Retirement of Committee Members
  444. Preliminary
  445. 1Paragraph 1
  446. Eligibility to be elected committee member
  447. 2Paragraph 2
  448. 3Paragraph 3
  449. Eligibility to be co-opted committee member
  450. 4Paragraph 4
  451. Notice to society of age of committee member
  452. 5Paragraph 5
  453. Retirement of elected committee members
  454. 6Paragraph 6
  455. Retirement of co-opted members
  456. 7Paragraph 7
  457. Part II: Dealings with Members of Committee of Management
  458. 8Paragraph 8
  459. 9Paragraph 9
  460. Requisite particulars where no adoption of this Part
  461. 10Paragraph 10
  462. 11Paragraph 11
  463. 12Paragraph 12
  464. Requisite particulars on adoption of this Part
  465. 13Paragraph 13
  466. 14Paragraph 14
  467. 15Paragraph 15
  468. Power to prescribe bands
  469. 16Paragraph 16
  470. Schedule 12: Meetings and Resolutions
  471. Annual general meeting
  472. 1Paragraph 1
  473. 2Paragraph 2
  474. 3Paragraph 3
  475. Notice for calling meetings
  476. 4Paragraph 4
  477. Members’ entitlement to vote on resolutions
  478. 5Paragraph 5
  479. Right to demand a poll
  480. 6Paragraph 6
  481. Special resolutions
  482. 7Paragraph 7
  483. Postal ballots
  484. 8Paragraph 8
  485. Electronic ballots
  486. 8AParagraph 8A
  487. Combined ballots
  488. 8BParagraph 8B
  489. Resolutions requiring special notice
  490. 9Paragraph 9
  491. Schedule 13
  492. Part I: Applications for Authorisation
  493. Preliminary
  494. 1Paragraph 1
  495. Procedure for granting authorisation
  496. 2Paragraph 2
  497. 3Paragraph 3
  498. Offences in connection with application
  499. 4Paragraph 4
  500. Terms of authorisation: supplementary
  501. 5Paragraph 5
  502. Part II: Imposition of Conditions and Withdrawal of Authorisation
  503. Preliminary
  504. 6Paragraph 6
  505. Imposition of conditions
  506. 7Paragraph 7
  507. 8Paragraph 8
  508. Imposition of conditions on appeal
  509. 9Paragraph 9
  510. Procedure for withdrawing authorisation
  511. 10Paragraph 10
  512. 11Paragraph 11
  513. Non-receipt of notice by officer
  514. 12Paragraph 12
  515. Schedule 13A TO 1992 ACT
  516. Schedule 13B TO 1992 ACT
  517. Part III: FRIENDLY SOCIETIES PROVIDING INSURANCE IN THE UNITED KINGDOM THROUGH OVERSEAS BRANCHES IN OTHER EEA STATES
  518. Part IV: SUPPLEMENTAL
  519. Schedule 13C TO 1992 ACTSchedule 13C TO 1992 ACT
  520. Schedule 13D: Disclosures about members of the committee of management and employees
  521. Part 1: Emoluments of and dealings with members of the committee
  522. Aggregate amount of committee members' emoluments
  523. 1Paragraph 1
  524. Details of chairman’s and committee members' emoluments
  525. 2Paragraph 2
  526. Emoluments waived
  527. 3Paragraph 3
  528. Pensions of members of the committee and past members of the committee
  529. 4Paragraph 4
  530. Compensation to members of the committee for loss of office
  531. 5Paragraph 5
  532. Sums paid to third parties in respect of services of members of the committee
  533. 6Paragraph 6
  534. Supplementary provisions regarding committee members' emoluments
  535. 7Paragraph 7
  536. 8Paragraph 8
  537. 9Paragraph 9
  538. Interpretation of provisions regarding committee members' emoluments
  539. 10Paragraph 10
  540. Committee members' loans and transactions
  541. 11Paragraph 11
  542. Disclosure of auditors' remuneration
  543. 12Paragraph 12 Repealed
  544. Part 2: Information about employees
  545. 13Paragraph 13
  546. Interpretation: general
  547. 14Paragraph 14
  548. Schedule 13E: Disclosures about related undertakings
  549. Part 1: Societies not required to prepare consolidated group accounts
  550. Subsidiary undertakings
  551. 1Paragraph 1
  552. Holdings in subsidiary undertakings
  553. 2Paragraph 2
  554. Financial information about subsidiary undertakings
  555. 3Paragraph 3
  556. Financial years of subsidiary undertakings
  557. 4Paragraph 4
  558. Significant holdings in bodies corporate other than subsidiary undertakings
  559. 5Paragraph 5
  560. 6Paragraph 6
  561. 7Paragraph 7
  562. Construction of references to shares held by society
  563. 8Paragraph 8
  564. Part 2: Societies required to prepare consolidated accounts
  565. Subsidiary undertakings
  566. 9Paragraph 9
  567. Holdings in subsidiary undertakings
  568. 10Paragraph 10
  569. Financial information about subsidiary undertakings not included in the consolidation
  570. 11Paragraph 11
  571. Jointly controlled bodies
  572. 12Paragraph 12
  573. Other significant holdings of society or group
  574. 13Paragraph 13
  575. 14Paragraph 14
  576. 15Paragraph 15
  577. 16Paragraph 16
  578. 17Paragraph 17
  579. 18Paragraph 18
  580. Construction of references to shares held by society or group
  581. 19Paragraph 19
  582. Interpretation: general
  583. 20Paragraph 20
  584. Schedule 13F: Disclosure of auditor remuneration etc
  585. Disclosure required
  586. 1Paragraph 1
  587. Types of service
  588. 2Paragraph 2
  589. Disclosure not required of remuneration for certain services provided by distant associate
  590. 3Paragraph 3
  591. Duty of auditor to supply information
  592. 4Paragraph 4
  593. Meaning of “associate” and “distant associate” of auditor
  594. 5Paragraph 5
  595. Interpretation
  596. 6Paragraph 6
  597. Application to registered branches
  598. 7Paragraph 7
  599. Schedule 14: Auditors: Appointment, Tenure, Qualifications and Remuneration
  600. Appointment
  601. 1Paragraph 1
  602. 2Paragraph 2
  603. 3Paragraph 3
  604. Appointments in relation to friendly societies subject to special requirements
  605. 3AParagraph 3A
  606. Eligibility for appointment
  607. 4Paragraph 4
  608. 5Paragraph 5
  609. Appointment of partnerships
  610. 6Paragraph 6
  611. Cases in which auditor need not be a member of a recognised supervisory body
  612. 7Paragraph 7
  613. Effect of ineligibility
  614. 8Paragraph 8
  615. Power of appropriate authority to require second audit
  616. 9Paragraph 9
  617. Removal of auditors
  618. 10Paragraph 10
  619. Removal of auditor on improper grounds
  620. 10AParagraph 10A
  621. Rights of auditors who are removed or not re-appointed
  622. 11Paragraph 11
  623. Resignation of auditors
  624. 12Paragraph 12
  625. Rights of resigning auditors
  626. 13Paragraph 13
  627. Statement by person ceasing to hold office
  628. 14Paragraph 14
  629. Offences of failing to comply with paragraph 14
  630. 15Paragraph 15
  631. Duty of auditor to notify appropriate audit authority
  632. 15AParagraph 15A
  633. Duty of friendly society or registered branch to notify appropriate audit authority
  634. 15BParagraph 15B
  635. Meaning of “appropriate audit authority”
  636. 15CParagraph 15C
  637. Remuneration of auditors
  638. 16Paragraph 16
  639. Remuneration of auditors or their associates for non-audit work
  640. 17Paragraph 17 Repealed
  641. Schedule 14A: APPOINTMENT AND REMOVAL OF AUDITORS: SOCIETIES SUBJECT TO SPECIAL REQUIREMENTS
  642. Introductory
  643. 1Paragraph 1
  644. Appointment of auditor for society which has an audit committee
  645. 2Paragraph 2
  646. Appointment of auditor for society which does not have an audit committee
  647. 3Paragraph 3
  648. Restriction on appointment of auditor who holds office for maximum engagement period
  649. 4Paragraph 4
  650. 4AParagraph 4A
  651. The maximum engagement period
  652. 5Paragraph 5
  653. Application to court to remove auditor from office
  654. 6Paragraph 6
  655. Interpretation
  656. 7Paragraph 7
  657. Schedule 15: Amalgamations, Transfers of Engagements and Conversion: Supplementary
  658. Part I: Provision of Information to Members
  659. Statements relating to amalgamations and transfers
  660. 1Paragraph 1
  661. 2Paragraph 2
  662. Statements relating to conversion of society into company
  663. 3Paragraph 3
  664. 4Paragraph 4
  665. 4ZAParagraph 4ZA
  666. 4AParagraph 4A
  667. Part II: Confirmation by appropriate authority
  668. Applications for confirmation
  669. 5Paragraph 5
  670. 6Paragraph 6
  671. 7Paragraph 7
  672. Confirmation by appropriate authority: General
  673. 8Paragraph 8
  674. 9Paragraph 9
  675. 10Paragraph 10
  676. . . .
  677. 11Paragraph 11
  678. 11AParagraph 11A
  679. Confirmation of transfers of engagements
  680. 12Paragraph 12
  681. 13Paragraph 13
  682. 15Paragraph 15
  683. 15AParagraph 15A
  684. ...
  685. 16AParagraph 16A Repealed
  686. 16BParagraph 16B Repealed
  687. Effect of failure to comply with relevant requirements
  688. 17Paragraph 17
  689. Interpretation
  690. 18Paragraph 18
  691. Schedule 16: Amendments of 1974 Act
  692. 1Paragraph 1
  693. 2Paragraph 2
  694. 3Paragraph 3 Repealed
  695. 4Paragraph 4
  696. 5Paragraph 5
  697. 6Paragraph 6
  698. 7Paragraph 7
  699. 8Paragraph 8
  700. 9Paragraph 9
  701. 10Paragraph 10
  702. 11Paragraph 11
  703. 12Paragraph 12
  704. 13Paragraph 13
  705. 14Paragraph 14
  706. 15Paragraph 15
  707. 16Paragraph 16
  708. 17Paragraph 17
  709. 18Paragraph 18
  710. 19Paragraph 19
  711. 20Paragraph 20
  712. 21Paragraph 21
  713. 22Paragraph 22
  714. 23Paragraph 23
  715. 24Paragraph 24
  716. 25Paragraph 25
  717. 26Paragraph 26
  718. 27Paragraph 27
  719. 28Paragraph 28
  720. 29Paragraph 29
  721. 30Paragraph 30 Repealed
  722. 31Paragraph 31
  723. 32Paragraph 32
  724. 33Paragraph 33
  725. 34Paragraph 34
  726. 35Paragraph 35
  727. 36Paragraph 36
  728. 37Paragraph 37
  729. 38Paragraph 38
  730. 39Paragraph 39
  731. 40Paragraph 40
  732. 41Paragraph 41
  733. 42Paragraph 42
  734. 43Paragraph 43
  735. 44Paragraph 44 Repealed
  736. 45Paragraph 45
  737. 46Paragraph 46
  738. 47Paragraph 47 Repealed
  739. 48Paragraph 48
  740. 49Paragraph 49
  741. 50Paragraph 50
  742. 51Paragraph 51
  743. 52Paragraph 52
  744. Schedule 17Schedule 17
  745. Schedule 18
  746. Part I: Amendments of Provisions Other Than Schedule 11
  747. 1Paragraph 1
  748. 2Paragraph 2
  749. 3Paragraph 3
  750. 4Paragraph 4
  751. 5Paragraph 5
  752. 6Paragraph 6
  753. 7Paragraph 7
  754. 8Paragraph 8
  755. 9Paragraph 9
  756. Part II: Amendments of Schedule 11
  757. 10Paragraph 10
  758. 11Paragraph 11
  759. 12Paragraph 12
  760. 13Paragraph 13
  761. 14Paragraph 14
  762. 15Paragraph 15
  763. 16Paragraph 16
  764. 17Paragraph 17
  765. 18Paragraph 18
  766. 19Paragraph 19
  767. 20Paragraph 20
  768. 21Paragraph 21
  769. 22Paragraph 22
  770. Schedule 19
  771. Part I: Great Britain
  772. Industrial Assurance Act 1923
  773. 1Paragraph 1
  774. 2Paragraph 2
  775. 3Paragraph 3
  776. 4Paragraph 4
  777. 5Paragraph 5
  778. 6Paragraph 6
  779. 7Paragraph 7
  780. 8Paragraph 8
  781. 9Paragraph 9
  782. 10Paragraph 10
  783. 11Paragraph 11
  784. 12Paragraph 12
  785. Industrial Assurance and Friendly Societies Act 1948
  786. 13Paragraph 13
  787. 14Paragraph 14
  788. 15Paragraph 15
  789. 16Paragraph 16
  790. Part II: Northern Ireland
  791. 17Paragraph 17
  792. 18Paragraph 18
  793. 19Paragraph 19
  794. 20Paragraph 20
  795. 21Paragraph 21
  796. 22Paragraph 22
  797. 23Paragraph 23
  798. 24Paragraph 24
  799. 25Paragraph 25
  800. 26Paragraph 26
  801. 27Paragraph 27
  802. 28Paragraph 28
  803. 29Paragraph 29
  804. 30Paragraph 30
  805. 31Paragraph 31
  806. 32Paragraph 32
  807. Schedule 20
  808. Part I: General Mode of Application
  809. General rules as to applicable law
  810. 1Paragraph 1
  811. Applicable law in the absence of choice
  812. 2Paragraph 2
  813. Mandatory rules
  814. 3Paragraph 3
  815. Supplementary provisions
  816. 4Paragraph 4
  817. 5Paragraph 5
  818. Part II: Long Term Business by Societies to which Section 37(2) applies
  819. General rules as to applicable law
  820. 6Paragraph 6
  821. 7Paragraph 7
  822. Mandatory rules
  823. 8Paragraph 8
  824. Supplementary provisions
  825. 9Paragraph 9
  826. 10Paragraph 10
  827. Schedule 21: Amendments
  828. Part I: Amendments of Enactments
  829. Loan Societies Act 1840
  830. 1Paragraph 1
  831. National Savings Bank Act 1971
  832. 2Paragraph 2 Repealed
  833. 3Paragraph 3 Repealed
  834. National Debt Act 1972
  835. 4Paragraph 4 Repealed
  836. Solicitors Act 1974
  837. 5Paragraph 5 Repealed
  838. Insurance Companies Act 1982
  839. 6Paragraph 6
  840. Companies Act 1985
  841. 7Paragraph 7 Repealed
  842. Company Directors Disqualification Act 1986
  843. 8Paragraph 8
  844. Banking Act 1987
  845. 9Paragraph 9
  846. Income and Corporation Taxes Act 1988
  847. 10Paragraph 10 Repealed
  848. Companies Act 1989
  849. 11Paragraph 11
  850. Tribunals and Inquiries Act 1992
  851. 12Paragraph 12 Repealed
  852. 13Paragraph 13 Repealed
  853. 14Paragraph 14 Repealed
  854. 15Paragraph 15 Repealed
  855. 16Paragraph 16 Repealed
  856. Trade Union and Labour Relations (Consolidation) Act 1992
  857. 17Paragraph 17 Repealed
  858. Social Security Contributions and Benefits (Northern Ireland) Act 1992
  859. 18Paragraph 18
  860. 19Paragraph 19
  861. Part II: Amendments of Northern Ireland Legislation
  862. Parliamentary Commissioner Act (Northern Ireland) 1969
  863. 20Paragraph 20 Repealed
  864. Industrial and Provident Societies Act (Northern Ireland) 1969
  865. 21Paragraph 21
  866. Social Security Pensions (Northern Ireland) Order 1975
  867. 22Paragraph 22
  868. 23Paragraph 23
  869. Statutory Rules (Northern Ireland) Order 1979
  870. 24Paragraph 24
  871. 25Paragraph 25
  872. Housing (Northern Ireland) Order 1981
  873. 26Paragraph 26
  874. Property (Discharge of Mortgage by Receipt)(Northern Ireland) Order 1983
  875. 27Paragraph 27
  876. Credit Unions (Northern Ireland) Order 1985
  877. 28Paragraph 28
  878. 29Paragraph 29
  879. Companies (Northern Ireland) Order 1986
  880. 30Paragraph 30
  881. Companies (Northern Ireland) Order 1989
  882. 31Paragraph 31
  883. Schedule 22: Repeals
  884. IGeneral
  885. IINorthern Ireland Legislation