# The Friendly Societies (General Charge and Fees) Regulations 1996, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations provide for a general charge to be paid by friendly societies towards the expenses of the Friendly Societies Commission. The charge is levied with respect to the Commission’s accounting year beginning 1st April 1996 and is expected to raise £0.775 million (an increase of 19.2 per cent from that raised for the accounting year beginning 1st April 1995). Each friendly society (subject to a requirement to pay a minimum of £215 and a maximum of £24,000) is required to pay a sum equal to 0.295% of its specified income, as identified in its annual accounts for the year ended 31st December 1995.
These Regulations also, by regulation 5 and 6 and the respective schedules, increase the fees to be paid for matters transacted under the Friendly Societies Act 1974 or the Friendly Societies Act 1992.
A detailed review of the cost of supplying services and of the structure of fees has been undertaken in order to ensure that transaction charges relate more closely to the cost of delivering the service and as the next step towards ensuring full cost recovery. As a result some fees have been increased substantially and some fees have been reduced.
The Regulations also revoke the Friendly Societies (General Charge and Fees) Regulations 1995.

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Source: https://www.legislation.gov.uk/uksi/1996/614/note (the official version)
Page: https://openlegislation.uk/friendly-societies-general-charge-and-fees-regulations-1996/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.