Part II Friendly Societies: Subsidiaries and Controlled Bodies
Part II Friendly Societies: Subsidiaries and Controlled Bodies

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In this Part of this Schedule—

“the 1992 Act” means the Friendly Societies Act 1992; and

“section 13” means section 13 of that Act.

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(1)     Subsections (2) to (5) of section 13 (incorporated friendly societies allowed to form or acquire control or joint control only of qualifying bodies) cease to have effect.

(2)     As a result, omit—

(a)     subsections (8) and (11) of that section, and

(b)     Schedule 7 to the 1992 Act (activities which may be carried on by a subsidiary of, or body jointly controlled by, an incorporated friendly society).

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In section 13(9) (defined terms), after paragraph (a) insert—

“(aa)     an incorporated friendly society also has control of a body corporate if the body corporate is itself a body controlled in one of the ways mentioned in paragraph (a)(i), (ii) or (iii) by a body corporate of which the society has control;”.

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