The Friendly Societies Act 1992 (Commencement No.4) Order 1993

Made: 3rd February 1993

The Treasury, in exercise of the powers conferred on them by section 126(2) of the Friendly Societies Act 1992[^f00001] and of all other powers enabling them in that behalf, hereby make the following Order:

Citation and interpretation

1

This Order may be cited as the Friendly Societies Act 1992 (Commencement No.4) Order 1993.

2

Section 120(2) of the Friendly Societies Act 1992 shall come into force on 5 February 1993—

• (a) as to the enactment specified in Part I of Schedule 22 to the Act and listed first in the Schedule to this Order for the purpose of repealing it in relation to collecting societies as defined in section 1(1A) of the Industrial Assurance Act 1923[^f00002] to which the criteria of prudent management described in section 50(3) of the Friendly Societies Act 1992 apply;

• (b) generally as to the enactment specified in Part I of Schedule 22 to the Act and listed second in the Schedule to this Order.

SCHEDULE — REPEALS

Signed

Tim Wood — Tim Kirkhope — Two of the Lords Commissioners of Her Majesty’s Treasury — 3rd February 1993

Explanatory note

(This note is not part of the Order)

This Order brings section 120(2) of the Friendly Societies Act 1992 into force on 5 February 1993 to effect the repeal in relation to collecting societies subject to section 50(3) of the Friendly Societies Act 1992 of section 8(1)(b) of the Industrial Assurance Act 1923 which limits the uses to which the industrial assurance fund maintained by collecting societies may be put. Section 50(3) was brought into force for incorporated friendly societies, which may be collecting societies, on 11 January 1993 by the Friendly Societies Act 1992 (Commencement No. 3 and Transitional Provisions) Order 1993 (S.I. 1993/16). The Order also effects the repeal of Schedule 5 to the Friendly Societies Act 1974.

Footnotes

[^f00001]: 1992 c. 40.

[^f00002]: 13 and 14 Geo. 5 c.8; section 1(1A) was inserted by sections 97 and 99 of and Part II of Schedule 6 to the Companies Act 1967 (c. 81) and a new subsection was substituted by section 100 of and by paragraph 2(1) of Part I of Schedule 19 to the Friendly Societies Act 1992.