# The Friendly Societies (Insurance Business) (Amendment) Regulations 1996, Regulation 20: Rates of interest


In paragraph (3) of regulation 43 of the 1994 Regulations (rates of interest) for sub-paragraph (b) substitute—
“(b) the future income from the asset required to be taken into account (whether interest, dividends or repayment of capital) shall be reduced by a proportion corresponding to such part of any excess exposure to assets of that description, calculated in accordance with paragraph 13 of Schedule 5 to these Regulations, as may reasonably be attributed to such assets.”.

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Source: https://www.legislation.gov.uk/uksi/1996/3008/regulation/20 (the official version)
Page: https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/regulation-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.