Regulation 4 Transitional Provisions
An incorporated friendly society to which section 46(2)(c) or section 47(1)(a) of the 1992 Act applies and which was formerly a registered friendly society shall be subject, as if it were a registered friendly society, to section 41 of the 1974 Act as modified by the Friendly Societies (Valuation) Regulations 1985f1 for the purposes of any triennial valuation due to be carried out at a date preceding its date of incorporation, and shall continue to be so subject until such time as the relevant valuation has been completed and a report sent to the registrar in accordance with section 41.