Statutory Instruments
1995 No. 3062
FRIENDLY SOCIETIES
The Friendly Societies (Activities of a Subsidiary) Order 1995
Made
28th November 1995
Laid before Parliament
1st December 1995
Coming into force
1st January 1996
The Friendly Societies Commission, with the consent of the Treasury, in exercise of the powers conferred upon it by section 13(8) of the Friendly Socities Act 1992( 1 ), hereby makes the following Order:
Citation and Commencement
1. This Order may be cited as the Friendly Societies (Activities of a Subsidiary) Order 1995 and shall come into force on 1st January 1996.
Variation of Schedule 7
2. Schedule 7 to the Friendly Societies Act 1992 (which relates to activities which may be carried on by a subsidiary of or body jointly controlled by an incorporated friendly society) is amended by inserting—
(a) at the end of paragraph 10, the words “or paragraph 11 or 12 below”; and
(b) after paragraph 10, the following paragraphs—
“ 11. The carrying on of a business which is a deposit-taking business within the meaning of the Banking Act 1987 ( 2 ) but only to the extent that money which is received as a deposit, or money which is lent, is received from, or lent to, an individual.
12. The carrying on of insurance business which is general business within the meaning of the Insurance Companies Act 1982 ( 3 ) but only to the extent that a contract of insurance which is effected or carried out is a contract which is effected with an individual. ”
In witness whereof the common seal of the Friendly Societies Commission is hereto fixed, and is authenticated by me, a person authorised under paragraph 13 of Schedule 1 to the Friendly Societies Act 1992 on
L.S.
Michael Cook
Secretary to the Commission
10th November 1995.
We consent to this Order.
S. Burns
B. Wells
Two of the Lords Commisoners of Her Majesty’s Treasury
28th November 1995