(1)The [F2appropriate authority] may, on the application or with the consent of a friendly society, F3. . . direct that all or any of the provisions of Part F4. . . VI of this Act [F5, or any provision of regulations made for the purposes of that Part,] shall not apply to the society or shall apply to it with such modifications as may be specified in the [F6direction].
(2)[F7A direction] under this section may be subject to conditions.
(3)[F8A direction] under this section may be revoked by the [F2appropriate authority] at any time; and the [F2appropriate authority], may at any time vary any such [F9direction] on the application or with the consent of the society to which it applies.
[F10(3A)The PRA must consult the FCA before making, varying or revoking a direction under this section.
(3B)The PRA must send the FCA a copy of any direction, variation or revocation under this section.]
F11(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F11(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F11(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F12(7)The FCA must keep in a register kept by it for the purposes of this subsection a copy of any direction, variation or revocation under this section.]
F13(8)The register kept for the purposes of subsection (7) above shall be available for inspection on reasonable notice by members of the public.
F13(9)The [F14[F15FCA] shall keep] a copy of—
(a)any direction F16... under [F17this section], and
(b)any revocation or variation of any such direction,
[F18and the central office shall keep the copy] in the public file of the society to which it relates.
Textual Amendments
F1Word in the sidenote to s. 103 substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(a) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F2Words in s. 103(1)(3) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 42(2) (with Sch. 12)
F3Words in s. 103(1) repealed (1.12.2001) by S.I. 2001/2617, arts. 2, 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F4Words in s. 103(1) repealed (1.12.2001) by S.I. 2001/2617, arts. 2, 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F5Words in s. 103(1) inserted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(b)(iv) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F6Word in s. 103(1) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(b)(v) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F7Words in s. 103(2) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(c) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F8Words in s. 103(3) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(d)(i) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F9Word in s. 103(3) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(d)(iii) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F10S. 103(3A)(3B) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 42(3) (with Sch. 12)
F11S. 103(4)-(6) repealed (1.12.2001) by S.I. 2001/2617, arts. 2, 13(2), Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F12S. 103(7) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 42(4) (with Sch. 12)
F13S. 103(4)-(9) inserted (1.8.1996) by S.I. 1996/1188 art. 6
F14Words in s. 103(9) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(g)(i) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F15Word in s. 103(9) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 42(5)(a) (with Sch. 12)
F16Words in s. 103(9)(a) omitted (1.4.2013) by virtue of The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 42(5)(b) (with Sch. 12)
F17Words in s. 103(9)(a) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(g)(ii) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F18Words in s. 103(9) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 107(g)(iii) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)