Financial Services Act 1986 (Repealed)

Part VU.K. Miscellaneous and Supplemental

38(1)[F1The Commission] may publish information or give advice, or arrange for the publication of information or the giving of advice, in such form and manner as [F2the Commission] considers appropriate with respect to—

(a)the operation of this Schedule and the [F3statements of principle, rules, regulations and codes of practice issued or made] under it in relation to [F4registered] friendly societies, including in particular the rights of their members, the duties of such societies and the steps to be taken for enforcing those rights or complying with those duties;

(b)any matters relating to the functions of [F1the Commission] under this Schedule or any such [F5statements of principle, rules, regulations or codes of practice];

(c)any other matters about which it appears to [F2the Commission] to be desirable to publish information or give advice for the protection of those members or any class of them.

(2)[F1The Commission] may offer for sale copies of information published under this paragraph and may, if [F2the Commission] thinks fit, make reasonable charges for advice given under this paragraph at any person’s request.

(3)This paragraph shall not be construed as authorising the disclosure of restricted information within the meaning of section 179 of this Act in any case in which it could not be disclosed apart from the provisions of this paragraph.

39In the case of an application for authorisation under section 26 of this Act made by a society which is registered under the M1Friendly Societies Act 1974 within the meaning of that Act or is registered or deemed to be registered under the M2Friendly Societies Act (Northern Ireland) 1970 (“a registered society"), section 27(3)(c) of this Act shall have effect as if it referred only to any person who is a trustee manager or member of the committee of the society.

40Where the other person mentioned in paragraph (c) of the definition of “connected person” in section 105(9) of this Act is a registered society that paragraph shall have effect with the substitution for the words from “member" onwards of the words “trustee, manager or member of the committee of the society".

[F640A(1)In the case of an application for authorisation under section 26 of this Act made by an incorporated friendly society section 27(3) shall have effect as if the following paragraph were substituted for paragraph (a)—

“(a)to any member of the committee of management or any director or controller of a subsidiary of the society or of a body jointly controlled by the society.”

(2)Where the other person mentioned in paragraph (b) of the definition of “connected person” in section 105(9) of this Act is an incorporated friendly society that paragraph shall have effect with the substitution for the words from “director" onwards of the words “member of the committee of management of the society or any director, secretary or controller of a subsidiary of the society or a body jointly controlled by the society."]

41In relation to any such document as is mentioned in subsection (1) of section 204 of this Act which is required or authorised to be given to or served on a registered society—

(a)subsection (3)(c) of that section shall have effect with the substitution for the words from “member" onwards of the words “trustee, manager or member of the committee of the society"; and

(b)subsection (4)(c) of that section shall have effect as if for the words from “member" onwards there were substituted the words “trustee, manager or member of the committee of the society, the office which is its registered office in accordance with its rules".

42Rules under paragraphs 14, 15, 17 and 18 above and regulations under paragraphs 16, 19 and 20 above shall apply notwithstanding any provision to the contrary in the rules of any regulated friendly society to which they apply.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F743

44(1)In Part III of Schedule 1 to the M3House of Commons Disqualification Act 1975 (disqualifying offices) there shall be inserted at the appropriate place—

“Chairman of a transferee body within the meaning of Schedule 11 to the Financial Services Act 1986 if he is in receipt of remuneration.”

(2)A corresponding amendment shall be made in Part III of Schedule 1 to the M4Northern Ireland Assembly Disqualification Act 1975.

[F845(1)Any power of the Commission to make regulations, rules or orders which is exercisable by virtue of this Act shall be exercisable by statutory instrument and the Statutory Instruments Act 1946 shall apply to any such power as if the Commission were a Minister of the Crown.

(2)Any regulations, rules or orders made under this Schedule by the Commission may make different provision for different cases.]