# The Friendly Societies (Authorisation) Regulations 1994, Regulation 2: Interpretation


(1) In these Regulations, unless the context otherwise requires—
“the 1992 Act” means the Friendly Societies Act 1992;
“class”, in relation to insurance business, has the meaning given in section 43 of the 1992 Act;
“deposit back arrangement”, in relation to any contract of reinsurance, means an arrangement whereby an amount is deposited by the reinsurer with the cedant;
“expected date of authorisation” means the date which is 6 months after the date of submission of an application for authorisation under section 32 of the 1992 Act, or, such earlier date as the Commission may, at the request of a society, determine;
“information” includes proposal and financial forecast;
“mathematical reserves” means the provision made by the society to cover liabilities (excluding liabilities which have fallen due and liabilities arising from deposit back arrangements) arising under or in connection with contracts for long term business;
“minimum guarantee fund” means the minimum guarantee fund referred to in Regulation 5 of the Friendly Societies (Insurance Business) Regulations 1994;
“premium” includes a contribution in respect of an insurance benefit and the consideration for the granting of an annuity;
“qualifying bodies” has the meaning given by section 13(2) of the 1992 Act;
“required margin of solvency” means the margin of solvency to be maintained by the society under section 48 of the 1992 Act;
“Schedule” means Schedule to these Regulations;
“society” means an incorporated friendly society or a registered friendly society;
“the valuation regulations” means Parts IV and V of the Friendly Societies (Insurance Business) Regulations 1994.
(2) In these Regulations, unless the context otherwise requires—
(a) references to an actuary, appointed actuary, appropriate actuary or controller shall have the same meaning as they have in section 119 of the 1992 Act;
(b) references to insurance business, direct insurance business, long term business, general business, or reinsurance business shall have the same meaning as they have in section 117 of the 1992 Act; and
(c) references to non-insurance business shall have the same meaning as they have in section 119 of the 1992 Act.

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Source: https://www.legislation.gov.uk/uksi/1994/1982/regulation/2 (the official version)
Page: https://openlegislation.uk/friendly-societies-authorisation-regulations-1994/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.