{
  "url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1998/regulation-3",
  "json_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1998/regulation-3.json",
  "legislation": "uksi/1998/3034",
  "legislation_title": "The Friendly Societies (Insurance Business) (Amendment) Regulations 1998",
  "legislation_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1998",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Amendment of the 1994 Regulations",
  "text": "The 1994 Regulations are hereby amended as follows:\n(a) regulation 16 shall be replaced by the following regulation:\n“16 A society need not cover its liabilities by assets in a particular currency if those assets would amount to 7 per cent. or less of the remainder of its assets in other currencies.”; and\n(b) in regulation 19(1), in the definition of “approved financial institution”, there shall be inserted, before “the central bank of an EEA State”, “the European Central Bank”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 3 in force at 1.1.1999, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/3034/regulation/3",
    "retrieved_at": "2026-10-29T11:14:02.728261+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."
}