The Friendly Societies (Amendment) Regulations 1997

MISCELLANEOUS AND SUPPLEMENTAL

Amendment of the Friendly Societies (Insurance Business) Regulations 1994

6.  In the Friendly Societies (Insurance Business) Regulations 1994(1), regulation 55 is revoked and, in regulations 56 and 58, for the words “member State” and “a member State”, wherever they occur there shall be substituted “EEA State” and “an EEA State” respectively and, in regulation 58(2), the words “or EEA State” shall be omitted.

Transitional Provisions

7.—(1) If a friendly society to which section 37(2) or (3) of the 1992 Act applies was immediately before the commencement date lawfully providing insurance of any class or part of a class in an EEA State which is not a member State, it shall be treated for the purposes of the 1992 Act as if the requirements of paragraph 5 of Schedule 13B to that Act have been complied with in relation to insurance business of that class or part of a class provided in that State.

(2) If a friendly society to which section 37(2) or (3) of the 1992 Act applies was immediately before the commencement date lawfully carrying on direct insurance business of a class or part of a class through an overseas branch in an EEA State which is not a member State, it shall be treated for the purposes of the 1992 Act as if the requirements of paragraph 1 of Schedule 13B to that Act have been complied with in relation to insurance business of that class or part of a class carried on in that State.