Statutory Instruments
1993 No.2518
FRIENDLY SOCIETIES
The Friendly Societies (Qualifications of Actuaries No.2) Regulations 1993
Made
4th October 1993
Laid before Parliament
21st October 1993
Coming into force
1st January 1994
The Friendly Societies Commission, in exercise of the powers conferred upon it by section 44(8) and 121(3) of the Friendly Societies Act 1992( 1 ) and of all other powers enabling it in that behalf, hereby makes the following Regulations:
Citation, commencement and interpretation
1. —(1) These Regulations may be cited as the Friendly Societies (Qualifications of Actuaries No. 2) Regulations 1993, and shall come into force on 1st January 1994.
(2) In these Regulations—
“the 1974 Act” means the Friendly Societies Act 1974 ( 2 );
“the 1992 Act” means the Friendly Societies Act 1992 .
Prescribed qualifications
2. —(1) The qualifications set out in paragraph (2) below are prescribed under section 44(8) of the 1992 Act.
(2) A person must possess the qualifications set out in subparagraph (a) and, where applicable, (b) below
(a) a fellowship of the Institute of Actuaries or of the Faculty of Actuaries; and
(b) attainment of the age of 30 years, except in the case of an actuary of a registered friendly society who carried out the last valuation of the society under section 41 of the 1974 Act prior to the coming into force of these Regulations.
Revocation
3. These Regulations revoke the Friendly Societies (Qualifications of Actuaries) Regulations 1993( 3 ).
In witness whereof the common seal of the Friendly Societies Commission is hereunto fixed, and is authenticated by me, a person authorised under paragraph 13 of Schedule 1 to the Friendly Societies Act 1992, on 4th October 1993.
Michael Cook
Secretary to the Commission
4th October 1993
992 c.40 ; section 119(1) contains a definition of “the Commission”.
S.I. 1993/60 .