Regulation 27 Actuary’s report on transfer of long term business

In subsection (1) of section 88 of the 1992 Act (actuary’s report on transfer of long term business), for paragraph (a) substitute–

“(a)

a friendly society (“a transferor society”) proposes to transfer to any person engagements the fulfilment of which will constitute–

(i)

in the case of a society to which subsection (2) or (3) of section 37 above applies, the carrying on of long term business in one of more member States; or

(ii)

in the case of a society to which neither of those subsections applies, the carrying on of long term business in the United Kingdom; or”.