{
  "url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/schedule-1/paragraph-4",
  "json_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/schedule-1/paragraph-4.json",
  "legislation": "uksi/1996/3008",
  "legislation_title": "The Friendly Societies (Insurance Business) (Amendment) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996",
  "path": "schedule/1/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "The permitted counterparty exposure limit is—\n(a) where the counterparty is an individual or an unincorporated body of persons, 5 per cent. of the business amount;\n(b) where the counterparty is a counterparty of the type mentioned in sub-paragraph (e) in the definition of counterparty, 5 per cent. of the business amount;\n(c) where the counterparty is a body corporate or group, each of—\n(i) 20 per cent. of the business amount;\n(ii) 10 per cent. of the business amount where the exposure arises otherwise than by reason that debts are due, or are to become due, as a result of short term deposits made with an approved credit institution; and\n(iii) 5 per cent. of the business amount where the exposure is other than to bodies which are approved counterparties.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/3008/schedule/1/paragraph/4",
    "retrieved_at": "2026-10-29T12:31:09.195562+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}