{
  "url": "https://openlegislation.uk/friendly-societies-act-1992-amendment-regulations-1994/regulation-10",
  "json_url": "https://openlegislation.uk/friendly-societies-act-1992-amendment-regulations-1994/regulation-10.json",
  "legislation": "uksi/1994/1984",
  "legislation_title": "The Friendly Societies Act 1992 (Amendment) Regulations 1994",
  "legislation_url": "https://openlegislation.uk/friendly-societies-act-1992-amendment-regulations-1994",
  "path": "regulation/10",
  "kind": "regulation",
  "number": "10",
  "heading": "Adequacy of premiums in respect of long term insurance",
  "text": "After section 49A of the 1992 Act insert—\n“Adequacy of premiums in respect of long term insurance.\n49B (1) Before entering into a contract the effecting of which constitutes the carrying on of long term business, a friendly society to which section 37(2) above applies shall satisfy itself that the aggregate of–\n(a) the premiums payable under the contract and the income which will be derived from them; and\n(b) any other resources of the society which are available for the purpose,\nwill be sufficient, on reasonable actuarial assumptions, to meet all commitments arising under or in connection with the contract.\n(2) A friendly society to which section 37(2) above applies shall not rely on other resources for the purposes of subsection (1) above in such a way as to jeopardise the solvency of the society in the long term.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/1984/regulation/10",
    "retrieved_at": "2026-10-29T13:28:40.485904+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}