The Financial Services and Markets Act 2000 (Consequential Amendments and Savings) (Industrial Assurance) Order 2001

Article 4

SCHEDULE 2OTHER TRANISTIONAL PROVISIONS AND SAVINGS

Certificates of exemption

1.—(1) This paragraph applies where—

(a)before commencement a certificate of exemption has been granted under section 10 of the 1923 Act (exemptions, total and partial) in relation to a collecting society;

(b)that certificate remained in force in relation to that society immediately before commencement; and

(c)one or more exeptions conferred by that certificate related to a provision which continues to have effect after commencement (with or without modification) by virtue of this Order.

(2) An exemption conferred by that certificate has effect after commencement, but can be revoked or varied as if it were a direction under section 148(2) of the Act.

2.—(1) This paragraph applies where—

(a)before commencement a certificate of exemption had been granted under—

(i)Article 12 of the Northern Ireland Order (exemptions, total and partial) in relation to a collecting society, or

(ii)Article 13 of the Northern Ireland Order (power to exempt societies registered in Great Britain) in relation to a collecting society registered in Great Britain;

(b)that certificate remained in force in relation to that society immediately before commencement; and

(c)one or more exemptions conferred by that certificate related to a provision which continues to have effect after commencement (with or without modification) by virtue of this Order.

(2) An exemption conferred by that certificate has effect after commencement, but can be revoked or varied as if it were a direction under section 148(2) of the Act.

3.—(1) This paragraph applies where—

(a)before commencement a certificate of exemption had been granted under section 96 of the Companies Act 1967 (power of the Friendly Societies Commission to exempt Northern Irish collecting societies from the provisions of the Industrial Assurance Acts 1923 to 1958) in relation to a collecting society;

(b)that certificate remained in force in relation to that society immediately before commencement; and

(c)one or more exemptions conferred by that certificate related to a provision which continues to have effect after commencement (with or without modification) by virtue of this Order.

(2) An exemption conferred by that certificate has effect after commencement, but can be revoked or varied as if it were a direction under section 148(2) of the Act.

Delivery of policies and copies of rules

4.—(1) This paragraph applies where immediately before commencement a collecting society—

(a)was required under section 10(1) of the 1948 Act (obligations as to delivery of policies and of copies of rules) to provide a printed policy or a copy of the rules of the society, as the case may be, in relation to a policy of industrial assurance; and

(b)has not complied with that requirement at commencement.

(2) That requirement has effect after commencement as if it were imposed under section 43 of the Act.

Contracts effected under Schedule 6 to the Friendly Societies Act 1974

5.—(1) The following transitional provisions and savings have effect in relation to provisions of the Friendly Societies Act 1974.

(2) Paragraphs 3 to 8 of Schedule 6 to that Act continue to have effect in relation to a contract of insurance effected pursuant to paragraph 1 or 2 of that Schedule before commencement as if—

(a)in paragraph 3 “insure or” were omitted;

(b)sub-paragraph (2) of paragraph 4 were omitted; and

(c)in paragraph 5(1), “Notwithstanding anything in section 70 of this Act” were omitted.