# The Friendly Societies (Activities of a Subsidiary) (No. 2) Order 1998, Article 2: Variation of Schedule 7


Schedule 7 to the Friendly Societies Act 1992 (which relates to the activities which may be carried on by a subsidiary of or a body jointly controlled by an incorporated friendly society) is amended by:
(a) substituting “11 to 15” for “11 to 14” in paragraph 10;
(b) inserting, after “1996” in paragraph 13, “or within regulation 3(2) of the Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations (Northern Ireland) 1997”; and
(c) inserting after paragraph 14 the following paragraph:
“15 Arranging for the provision of banking services by a UK institution or a European institution, and providing services in pursuance of such arrangements; and in this paragraph “UK institution” and “European institution” have the same meaning as in the Banking Co-ordination (Second Council Directive) Regulations 1992, and “banking services” means such services as are ordinarily provided in the course of or in connection with a business which is a deposit-taking business for the purposes of the Banking Act 1987.”

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Source: https://www.legislation.gov.uk/uksi/1998/2696/article/2 (the official version)
Page: https://openlegislation.uk/friendly-societies-activities-of-a-subsidiary-no-2-order-1998/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.