LegalizeReform history
Friendly Societies Act 1992
37 versions
· 1992-03-16
2020-12-31
Friendly Societies Act 1992
2020-10-01
Friendly Societies Act 1992
2020-06-26
Friendly Societies Act 1992
2018-03-13
Friendly Societies Act 1992
2018-01-03
Friendly Societies Act 1992
2018-01-01
Friendly Societies Act 1992
2017-10-03
Friendly Societies Act 1992
2017-07-31
Friendly Societies Act 1992
2017-07-03
Friendly Societies Act 1992
2017-06-29
Friendly Societies Act 1992
2017-05-01
Friendly Societies Act 1992
2017-04-07
Friendly Societies Act 1992
2016-10-31
Friendly Societies Act 1992
2016-01-01
Friendly Societies Act 1992
2015-03-12
Friendly Societies Act 1992
2014-08-01
Friendly Societies Act 1992
2014-04-22
Friendly Societies Act 1992
2013-04-01
Friendly Societies Act 1992
2011-04-12
Friendly Societies Act 1992
2010-04-06
Friendly Societies Act 1992
2010-01-01
Friendly Societies Act 1992
2009-10-01
Friendly Societies Act 1992
2009-01-16
Friendly Societies Act 1992
2008-06-29
Friendly Societies Act 1992
2008-04-06
Friendly Societies Act 1992
2007-12-10
Friendly Societies Act 1992
Changes on 2007-12-10
@@ -3171,7 +3171,7 @@
- (1AA) Any reference in this Act to the seal of the Authority is a reference to the seal provided for in regulations made under section 109(1)(b) of the Friendly Societies Act 1974 (and not to the Authority’s common seal).
- (1A) References in this Act to the first or third general insurance Directive... are references to that Directive as amended by the European Parliament and Council Directive of 29th June 1995 amending Directives [77/780/EEC](https://www.legislation.gov.uk/european/directive/1977/0780) and [89/646/EEC](https://www.legislation.gov.uk/european/directive/1989/0646) in the field of credit institutions, Directives [72/239/EEC](https://www.legislation.gov.uk/european/directive/1972/0239) and [92/49/EEC](https://www.legislation.gov.uk/european/directive/1992/0049) in the field of non-life insurance, Directive [93/22/EEC](https://www.legislation.gov.uk/european/directive/1993/0022) in the field of investment firms and Directive [85/611/EEC](https://www.legislation.gov.uk/european/directive/1985/0611) in the field of undertakings for collective investment in transferable securities (UCITS) with a view to reinforcing prudential supervision (No. [95/26/EC](https://www.legislation.gov.uk/european/directive/1995/0026)).
- (1A) References in this Act to the first or third general insurance Directive... are references to that Directive as amended by the European Parliament and Council Directive of 29th June 1995 amending Directives [77/780/EEC](https://www.legislation.gov.uk/european/directive/1977/0780) and [89/646/EEC](https://www.legislation.gov.uk/european/directive/1989/0646) in the field of credit institutions, Directives 73/239/EEC and [92/49/EEC](https://www.legislation.gov.uk/european/directive/1992/0049) in the field of non-life insurance, Directive [93/22/EEC](https://www.legislation.gov.uk/european/directive/1993/0022) in the field of investment firms and Directive [85/611/EEC](https://www.legislation.gov.uk/european/directive/1985/0611) in the field of undertakings for collective investment in transferable securities (UCITS) with a view to reinforcing prudential supervision (No. [95/26/EC](https://www.legislation.gov.uk/european/directive/1995/0026)) and as amended by the reinsurance Directive.
- (1B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
@@ -3183,7 +3183,11 @@
- (c) Schedule 2 to that Act.
- (1D) References in this Act to the life assurance consolidation Directive are references to that Directive as amended by the reinsurance Directive.
- (2) References in this Act to the “*ECU*” are to the unit of account of that name defined in Council Regulation (EEC) No.3180/78 as amended; and the exchange rates as between the ECU and pounds sterling to be applied for each year beginning on 31st December shall be the rates applicable on the last day of the preceding October for which exchange rates for the currencies of all the member States were published in the Official Journal of the Communities.
- (3) In this section, “the reinsurance Directive” means Directive [2005/68/EC](https://www.legislation.gov.uk/european/directive/2005/0068) of the European Parliament and of the Council of 16 November 2005 on reinsurance and amending Council Directives [73/239/EEC](https://www.legislation.gov.uk/european/directive/1973/0239), [92/49/EEC](https://www.legislation.gov.uk/european/directive/1992/0049) as well as Directives [98/78/EC](https://www.legislation.gov.uk/european/directive/1998/0078) and [2002/83/EC](https://www.legislation.gov.uk/european/directive/2002/0083).
### Supplementary
@@ -7460,27 +7464,27 @@
## Part II — Northern Ireland Legislation
#### Financial provision for Commission.
#### Grant of unconditional or conditional authorisation.
#### Imposition of conditions on current authorisation.
#### Restriction on combinations of business.
#### Functions of the Financial Services Authority in relation to friendly societies.
#### Applications from certain existing friendly societies.
#### Extension of current authorisation.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
##### 36A
#### Interpretation of Part IV.
#### Contracts effected in contravention of section 31(1).
#### Appointment of actuary by societies with long term business.
#### Valuation of assets and liabilities.
#### Triennial investigations into condition of certain societies.
#### Annual investigation into condition of certain societies.
#### Margins of solvency in relation to insurance business of certain societies.
#### Adequacy of assets.
#### Failure to maintain prescribed margin of solvency.
### Adequacy of assets and premiums
@@ -7488,7 +7492,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The criteria of prudent management.
#### Adequacy of premiums in respect of long term insurance.
##### 49B
@@ -7674,7 +7678,7 @@
##### 67D
#### Duty to prepare group accounts
#### Friendly Societies Act group accounts
##### 90A
@@ -9430,6 +9434,14 @@
[^key-f53806eab3780c1f4287f465c591e0a3]: Words in [s. 69E(5)](https://www.legislation.gov.uk/ukpga/1992/40/section/69E/5) substituted (1.4.2007 for specified purposes, 1.11.2007 in so far as not already in force) by [The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126)](https://www.legislation.gov.uk/uksi/2007/126), [reg. 1(2)](https://www.legislation.gov.uk/uksi/2007/126/regulation/1/2), [Sch. 6 para. 10(3)](https://www.legislation.gov.uk/uksi/2007/126/schedule/6/paragraph/10/3)
[^key-bb10931aecf93b9602a99a3bb50c8f04]: Word in [s. 119(1A)](https://www.legislation.gov.uk/ukpga/1992/40/section/119/1A) substituted (10.12.2007) by [The Reinsurance Directive Regulations 2007 (S.I. 2007/3253)](https://www.legislation.gov.uk/uksi/2007/3253), [reg. 1(1)](https://www.legislation.gov.uk/uksi/2007/3253/regulation/1/1), [Sch. 3 para. 1(a)(i)](https://www.legislation.gov.uk/uksi/2007/3253/schedule/3/paragraph/1/a/i)
[^key-13fc7f861792c8a230f0ebe36ff823fb]: Words in [s. 119(1A)](https://www.legislation.gov.uk/ukpga/1992/40/section/119/1A) inserted (10.12.2007) by [The Reinsurance Directive Regulations 2007 (S.I. 2007/3253)](https://www.legislation.gov.uk/uksi/2007/3253), [reg. 1(1)](https://www.legislation.gov.uk/uksi/2007/3253/regulation/1/1), [Sch. 3 para. 1(a)(ii)](https://www.legislation.gov.uk/uksi/2007/3253/schedule/3/paragraph/1/a/ii)
[^key-20b19046f7d3f2497542df36991fdd0f]: [S. 119(1D)](https://www.legislation.gov.uk/ukpga/1992/40/section/119/1D) added (10.12.2007) by [The Reinsurance Directive Regulations 2007 (S.I. 2007/3253)](https://www.legislation.gov.uk/uksi/2007/3253), [reg. 1(1)](https://www.legislation.gov.uk/uksi/2007/3253/regulation/1/1), [Sch. 3 para. 1(b)](https://www.legislation.gov.uk/uksi/2007/3253/schedule/3/paragraph/1/b)
[^key-4d1e1e66598e211ad52b719f7ed3162c]: [S. 119(3)](https://www.legislation.gov.uk/ukpga/1992/40/section/119/3) inserted (10.12.2007) by [The Reinsurance Directive Regulations 2007 (S.I. 2007/3253)](https://www.legislation.gov.uk/uksi/2007/3253), [reg. 1(1)](https://www.legislation.gov.uk/uksi/2007/3253/regulation/1/1), [Sch. 3 para. 1(c)](https://www.legislation.gov.uk/uksi/2007/3253/schedule/3/paragraph/1/c)
[^M_F_4bb24634-2ef1-4c74-e175-b7f95e28edd9]: Words in s. 119(1) omitted (17.8.2001 for specified purposes and 1.12.2001 for all other purposes) by virtue of [The Financial Services and Markets Act 2000 (Mutual Societies) Order 2001 (S.I. 2001/2617)](https://www.legislation.gov.uk/uksi/2001/2617), [arts. 2](https://www.legislation.gov.uk/uksi/2001/2617/article/2), [Sch. 3 para. 115(a)(vii)](https://www.legislation.gov.uk/uksi/2001/2617/schedule/3/paragraph/115/a/vii), [Sch. 4](https://www.legislation.gov.uk/uksi/2001/2617/schedule/4) (with [art. 13(3)](https://www.legislation.gov.uk/uksi/2001/2617/article/13/3), [Sch. 5](https://www.legislation.gov.uk/uksi/2001/2617/schedule/5))
[^c15394481]: Word in [Sch. 15 para. 13(3)](https://www.legislation.gov.uk/ukpga/1992/40/schedule/15/paragraph/13/3) substituted (17.8.2001 for specified purposes and otherwise*prosp.*) by [S.I. 2001/2617](https://www.legislation.gov.uk/uksi/2001/2617), [arts. 2(a)](https://www.legislation.gov.uk/uksi/2001/2617/article/2/a), [8(1)](https://www.legislation.gov.uk/uksi/2001/2617/article/8/1), [13(1)](https://www.legislation.gov.uk/uksi/2001/2617/article/13/1), [Sch. 3 para. 128(q)](https://www.legislation.gov.uk/uksi/2001/2617/schedule/3/paragraph/128/q) (with [art. 13(3)](https://www.legislation.gov.uk/uksi/2001/2617/article/13/3), [Sch. 5](https://www.legislation.gov.uk/uksi/2001/2617/schedule/5))
@@ -9626,7 +9638,7 @@
Where the committee of management of a friendly society prepares IAS group accounts, it must state in the notes to those accounts that the accounts have been prepared in accordance with international accounting standards.
#### Consistency of accounts
#### Disclosures relating to members of the committee of management and employees of the society
##### 69I
@@ -9746,9 +9758,9 @@
- (c) in the case of IAS accounts, to the requirement under international accounting standards that such accounts achieve a fair presentation.
#### Amalgamation of friendly societies.
A. Long term business of one or more of the following classes:
#### Transfer of engagements by or to friendly society.
B. General business of one or more of the following classes:
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2007-11-01
Friendly Societies Act 1992
2007-10-01
Friendly Societies Act 1992
2007-04-01
Friendly Societies Act 1992
2005-12-05
Friendly Societies Act 1992
2005-10-01
Friendly Societies Act 1992
2005-07-20
Friendly Societies Act 1992
2005-04-06
Friendly Societies Act 1992
2005-04-01
Friendly Societies Act 1992
2005-01-11
Friendly Societies Act 1992
2003-12-01
Friendly Societies Act 1992
1992-03-16
Friendly Societies Act 1992
original version
Text at this date