{
  "url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/schedule-1/part-II",
  "json_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/schedule-1/part-II.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/part/II",
  "kind": "part",
  "number": "II",
  "heading": "DESCRIPTION OF ASSET AND CORRESPONDING BUSINESS AMOUNT",
  "text": "19 A piece of land or a number of pieces of land (or an interest in such pieces of land) to which in the most recent proper valuation of such pieces of land an aggregate value is ascribed which is greater than the aggregate of the value of each of such pieces of land valued separately\n5%\n20 A reversionary interest or a remainder not falling within paragraph 19 above\n1%\n21 All debts due or to become due from any one individual (other than an individual who is connected with the society within the meaning of section 31(5) of the 1982 Act, being debts which are fully secured on any dwelling or any land appurtenant (or in Scotland, appertaining) thereto owned or to be purchased by the individual and used or to be used by him for his own residence\n1%\n22 All debts due or to become due from any one individual, other than debts specified in paragraph 21 above\n¼%\n23 All unsecured debts (other than debts arising under the terms of debt securities or debts from a regulated institution) due or to become due from any one counterparty other than an individual, body corporate or group\n1%\n24 All unsecured debts (other than debts arising under the terms of debt securities or debts from a regulated institution) due or to become due from any one company, taken together with all such debts due or to become due from a connected company of that company\n1%\n25 All unsecured debts (other than debts arising under the terms of debt securities or debts from an approved counterparty) due or to become due from any one regulated institution, taken together with (where that institution is a company) all such debts due or to become due from a connected company of that institution\n2½%\n26 All debts, other than debts arising under the terms of debt securities, due or to become due from any one counterparty which is not an approved counterparty taken together with all such debts due or to become due from any connected company (other than an approved counterparty) of that counterparty\n5%\n27 All debts, other than short-term deposits with an approved credit institution or debts arising under the terms of debt securities, due or to become due from any one approved counterparty, taken together with all such debts due or to become due from any connected company of that approved counterparty\n10%\n28 All debts due or to become due from an approved credit institution (or a connected company of that institution) taken together\n20%\n29 The aggregate of debts of the descriptions in paragraphs 22, 23 and 24 above\n5%\n30 All investments of a kind which may be valued in accordance with regulation 26 of these Regulations (other than secured debt securities, debt securities issued by a regulated institution or investments which are listed and readily realisable) issued by any one issuer taken together with—\n(a) all units or other beneficial interests in a collective investment scheme falling within regulation 27(1)(c) above issued by that issuer; and with\n(b) all investments of the kinds mentioned in this paragraph issued by a connected company of that issuer\n1%\n31 The aggregate of assets of any of the descriptions in paragraphs 20 and 30 above\n10%\n32 All shares issued by any one issuer taken together with all such securities issued by a connected company of that issuer\n2½%\n33 All securities issued by any one issuer which is not an approved counterparty taken together with (where that issuer is a company) all securities issued by a connected company, other than an approved counterparty, of that issuer\n5%\n34 All securities issued by any one counterparty\n10%\n35 All holdings in any one authorised unit trust scheme or recognised scheme\n5%\n36 All cash\n3%\n37 All computer equipment\n5%\n38 All office machinery (other than computer equipment) taken together with all furniture, motor vehicles and other equipment\n2½%",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 31(5) was amended by regulation 5 of the Insurance Companies (Amendment) Regulations 1994 (S.I. 1994/3132)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/3008/schedule/1/part/II",
    "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."
}