Financial Services Act 1986 (Repealed)

Part IU.K. Preliminary

1In this Schedule—

• “a regulated friendly society” means a society which is an authorised person by virtue of section 23 of this Act as respects such investment business as is mentioned in that section;

• “regulated business”, in relation to a regulated friendly society, means investment business as respects which the society is authorised by virtue of that section;

• “a self-regulating organisation for friendly societies” means a self-regulating organisation which is permitted under its rules to admit regulated friendly societies as members and to regulate the carrying on by such societies of regulated business;

• “a recognised self-regulating organisation for friendly societies” means a body declared by [F1a recognition order] for the time being in force to be a recognised self-regulating organisation for friendly societies for the purposes of this Schedule;

• “a member society” means a regulated friendly society which is a member of [F2a] recognised self-regulating organisation for friendly societies and is subject to its rules in carrying on all its regulated business F3. . .

• [F4“the Commission” means the “Friendly Societies Commission" and;

• “recognition order” means—

(a)an order made by the Chief Registrar of friendly societies or the Registrar of Friendly Societies for Northern Ireland before Schedule 18 to the Friendly Societies Act 1992 came into force; or

(b)an order made by the Commission after that Schedule came into force]