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Regulation 5 Transitional Provisions

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

An incorporated friendly society to which section 47(1)(b) of the 1992 Act applies and which was formerly a registered friendly society shall be subject, as if it were registered friendly society, to section 41 of the 1974 Act for the purposes of any quinquennial valuation due to be carried out at a date preceding the 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.