Friendly Societies Act 1992

[^key-c96a1d76eb6bec1361fea36f7ce15a57]: Words in Sch. 15 para. 11 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(10)(b) (with Sch. 12)

[^key-c9de751d188ce67f2d43f59d8aa80f11]: Word in s. 5(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. 4 (with Sch. 12)

[^key-ca3c27d3137ed0d9d84c0addfbd156f8]: S. 84 repealed (with effect from 1.9.2005) by Finance (No. 2) Act 2005 (c. 22), Sch. 11 Pt. 5(2)

[^key-cb18e01768b2006e4319207320493eea]: Word in Sch. 10 para. 54(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. 53(6)(b) (with Sch. 12)

[^key-cb64315a20e04d3aec43bec74d8ca484]: Words in s. 69A(3) inserted (1.10.2020) by The Friendly Societies Act 1992 (Accounts) (Amendment) Order 2020 (S.I. 2020/782), arts. 1(2), 2(4)

[^key-cbf1b380ffc03226cd6b502fbc93774a]: Words in Sch. 15 para. 1(3)(b) substituted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 21(1)(c)

[^key-cc027ca33fb462cedf97515a0c2ffc71]: Words in Sch. 10 para. 24(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. 53(4)(a) (with Sch. 12)

[^key-cd0ae05e008758ad7ac633d15b0c2b70]: Sch. 12 paras. 8A, 8B inserted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 20

[^key-cda5d3e1e06d867b48848c1d6175bcf4]: Sch. 15 para. 5(5A) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(6)(b) (with Sch. 12)

[^key-cdb0a794c9759263e1c64296813ed1aa]: Words in Sch. 10 para. 3(1)(c) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 53(2) (with Sch. 12)

[^key-ce30fc1e5ab45e7e083b070411c6b9ac]: S. 71(1)(a)(aa) substituted for s. 71(1)(a) (with effect in accordance with art. 1(2) of the amending S.I.) by The Friendly Societies Act 1992 (International Accounting Standards and Other Accounting Amendments) Order 2005 (S.I. 2005/2211), arts. 1(2), 3(2)

[^key-d0737a6b7ff604b935b934edc6a9dcc2]: Sch. 14 para. 10A(2)(b)(c) substituted for Sch. 14 para. 10A(2)(b) (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 55(7) (with Sch. 12)

[^key-d090654e4fa87a2dc80aa80558cece4b]: Words in s. 113(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 47 (with Sch. 12)

[^key-d122a5e7eab78b51d03dbd2ded0a4938]: Words in s. 78A(1) inserted (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 45(a)(iv) (with reg. 1(3)(4), Sch. 1 para. 67) (as amended by S.I. 2020/523, regs. 1(2), 22, 25(e)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-d136fbdea238d4f24aaae6e29ec3be30]: Words in Sch. 15 para. 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. 56(7) (with Sch. 12)

[^key-d2815420beb9ebdea70e9454f3ebe9b1]: Sch. 11 para. 3(3A) inserted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 13

[^key-d34db931e434ebe1bf61fab890f23b4b]: Words in Sch. 14 para. 9(3A) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 55(5)(c) (with Sch. 12)

[^key-d36cbe7b57e7dc3c00086b34154720af]: S. 86(1)(c) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 133(4) (with art. 10)

[^key-d3b70ce4a7c44193317798c6a18a1252]: Words in s. 119(1) inserted (1.1.2016) by The Solvency 2 Regulations 2015 (S.I. 2015/575), reg. 1(2), Sch. 1 para. 19(3)(b)

[^key-d41fb3bdcca1b8757b28b42f2345301c]: Words in s. 114(5) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 48(6) (with Sch. 12)

[^key-d4343cfa61c78932586566ee2367aa06]: Words 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)

[^key-d4d7b66331f6113948a037e8a794c725]: Words in s. 69D substituted (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 41 (with reg. 1(3)(4), Sch. 1 para. 67) (as amended by S.I. 2020/523, regs. 1(2), 22, 25(e)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-d4e0848a840e9abe0143173edb8f50c5]: Words in s. 119(1) substituted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 12(a)(i) (as amended by S.I. 2019/680, regs. 1(3), 7(4)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-d643d462ed0b72c643fa9cce4d8497b8]: S. 71(2)(b) omitted (with effect in accordance with art. 1(2) of the amending S.I.) by virtue of The Friendly Societies Act 1992 (International Accounting Standards and Other Accounting Amendments) Order 2005 (S.I. 2005/2211), arts. 1(2), 3(4)

[^key-d64480e434640f14af59eaa0addd3ab4]: Words in Sch. 14 para. 16(5) omitted (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by virtue of The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), arts. 1(2), 4(4)(a)(ii)

[^key-d6580d65bf5197bf20a1d32c517f628b]: Words in s. 69E(2) substituted (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 42(a)(ii) (with reg. 1(3)(4), Sch. 1 para. 67) (as amended by S.I. 2020/523, regs. 1(2), 22, 25(e)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-d65a5380638a912e3128aab81a723156]: Word in s. 119(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 49(2)(b) (with Sch. 12)

[^key-d7cf786fea0a88063cd06b9867355683]: Words in Sch. 13E para. 9(6)(b) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 186(3)(a) (with arts. 6, 11, 12)

[^key-d8ed43b31880b6e03e4db5a6942702bf]: Words in Sch. 15 para. 15(1)(c)(vi) substituted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 15(4)(b); 2020 c. 1, Sch. 5 para. 1(1)

[^key-d94cebc439205a784771f1dad124ad0f]: Word in s. 78A(3) omitted (31.12.2020) by virtue of The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 7(b)(i); 2020 c. 1, Sch. 5 para. 1(1)

[^key-d991a31e0b175f829a5683d566ac8888]: Sch. 10 para. 29 repealed (1.10.2007) by The Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), art. 1(3)(a), Sch. 4 para. 71(1), Sch. 5 (with art. 12, Sch. 4 para. 71(2))

[^key-d9d51686a50fdf9b86949098eea3beec]: Words in s. 69I(2)(a) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 183 (with arts. 6, 11, 12)

[^key-da85016d9c9d52ddd5f47f1cf46e138e]: Words in s. 91(2)(c) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 40(2) (with Sch. 12)

[^key-dae0357e7575437981f6bf6a05542667]: Sch. 3 para. 14(1A) inserted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 11(2)(a)

[^key-dae58e7132540e764673edfea8a02d65]: Word in s. 20(12) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 8(4) (with Sch. 12)

[^key-db4d0c4e206f0f4154787f9c331f3d2e]: Words in Sch. 15 para. 15(1)(v) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(14)(a) (with Sch. 12)

[^key-dba34ee4d1de0d05210c498f21b37cff]: Sch. 13E inserted (with effect in accordance with art. 1(2) of the amending S.I.) by The Friendly Societies Act 1992 (International Accounting Standards and Other Accounting Amendments) Order 2005 (S.I. 2005/2211), art. 1(2), Sch. para. 6

[^key-dc3cd4fe58fd7be14cba27230dcba5aa]: Words in s. 106(4) omitted (1.10.2009) by virtue of The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 133(6)(b) (with art. 10)

[^key-dc80d37ed5a3f0edbb86fe97dc1a6149]: Sch. 21 paras. 2-4 repealed (with effect from 1.9.2005) by Finance (No. 2) Act 2005 (c. 22), Sch. 11 Pt. 5(2)

[^key-dcbf0409f02ddded566b298907a5cf9b]: Word in s. 69A(4)(c) inserted (31.12.2020 with effect in relation to financial years beginning on or after IP completion day) by The Accounts and Reports (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/145), regs. 1(2)(b), 2, Sch. 2 para. 21(a)(ii)(aa) (with reg. 7(2)) (as amended by S.I. 2020/523, regs. 1(2), 10, 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-dcfeb6eda3d3ff353957eae9565d8243]: Words in Sch. 15 para. 8 cross-heading substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(8) (with Sch. 12)

[^key-def4af1ca7f15e30b9be1649f8424a97]: Words in s. 87(2)(b) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 36(2)(b) (with Sch. 12)

[^key-df806608fbfeb8b82576846f9f195b4f]: Word in s. 73(2) substituted (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), art. 1(2), Sch. 2 para. 2(b)(i)(cc)

[^key-dfc9e7bed917128600c29c4b4db8192d]: Word in s. 114(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. 48(4)(a) (with Sch. 12)

[^key-e096a3fc98e753b9fb39d8df4922010a]: Sch. 14 paras. 15A-15C and cross-headings inserted (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), arts. 1(2), 6(2)

[^key-e0b07030863fe3ab008b9683fa2ea70a]: S. 73(4A) substituted (with effect in accordance with reg. 1(5) of the amending S.I.) by The Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516), regs. 1(2), 5(d)

[^key-e0d8fcfe50cd0c5799ecd22636868450]: Words in s. 86(2)(e) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 35(2) (with Sch. 12)

[^key-e19784ef3d17ab435b8d3b30f6e2fe80]: Sch. 15 para. 15(1A) inserted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 15(4)(c) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 1(b)(i)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-e2de5dfbd18d285fd04169db27ac333d]: Words in Sch. 13E para. 18(2)(a) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 186(2) (with arts. 6, 11, 12)

[^key-e30d39bf3ef1ebd02467e520f0b0f4de]: Words in s. 107(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. 45(5)(c) (with Sch. 12)

[^key-e32fd7cf9d2da6da5a5fc47e33a35fbc]: Words in s. 21(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 9(a) (with Sch. 12)

[^key-e4507f7d6690481cc4ccbcce6c0b1571]: Words in s. 69A(4)(c) substituted (31.12.2020 with effect in relation to financial years beginning on or after IP completion day) by The Accounts and Reports (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/145), regs. 1(2)(b), 2, Sch. 2 para. 21(a)(ii)(bb) (with reg. 7(2)) (as amended by S.I. 2020/523, regs. 1(2), 10, 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-e5d472e012aed2b3c89cc61ae8195f2e]: Words in Sch. 13F para. 1(1)(a) inserted (with effect in accordance with reg. 2(2) of the amending S.I.) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), reg. 1(2)(3), Sch. 1 para. 5(a)(i) (with reg. 2(6)(7))

[^key-e62d9de68103fe33982967c06b5bfe9a]: Sch. 15 para. 4A inserted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 17

[^key-e6b9d4193fe809a370ab31bbac3e3766]: Words in Sch. 14 para. 10(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 55(6) (with Sch. 12)

[^key-e756bfe4301be8d0d4182452b6158520]: Sch. 10 paras. 36A, 36B and cross-heading inserted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 3(b)

[^key-e8163f814d589443da8f657019fcc15c]: Word in Sch. 10 para. 4(1) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 53(3) (with Sch. 12)

[^key-e860af50bda4c61dfc785f6fcb840ec5]: S. 77(1)(a)(aa) substituted for s. 77(1)(a) (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 31 (with Sch. 12)

[^key-e95032e4b88780af9a913756fbc24adc]: Words in s. 78A(1) substituted (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 45(a)(ii) (with reg. 1(3)(4), Sch. 1 para. 67) (as amended by S.I. 2020/523, regs. 1(2), 22, 25(e)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-e98e04ff81538387465b9b9f7e36ef34]: Sch. 10 para. 59 repealed (1.10.2007) by The Companies Act 2006 (Commencement No. 3, Consequential Amendments, Transitional Provisions and Savings) Order 2007 (S.I. 2007/2194), art. 1(3)(a), Sch. 4 para. 71(1), Sch. 5 (with art. 12, Sch. 4 para. 71(2))

[^key-e99a218f8a1c275acbe7060ba9ac6411]: Words in Sch. 14A para. 7(1) substituted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 14(c)(ii); 2020 c. 1, Sch. 5 para. 1(1)

[^key-eaa4ecfa4e0188a46364e9f6b1723fec]: Sch. 15 paras. 16A, 16B and cross-heading omitted (31.12.2020) by virtue of The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 15(6); 2020 c. 1, Sch. 5 para. 1(1)

[^key-eab5bb23a138aaf645d5907be52c8f33]: Word in s. 78A(3)(b) inserted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 7(b)(iii); 2020 c. 1, Sch. 5 para. 1(1)

[^key-eaf419b598970340234dfdad9fef7aa6]: Words in Sch. 15 para. 13 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(13)(b) (with Sch. 12)

[^key-eb54e737eea3549749de2543f1d91fac]: Words in Sch. 15 para. 11 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(10)(a) (with Sch. 12)

[^key-ec0f0bd0a6ddced20763bec10b8d3b3c]: Word in s. 69A(4)(b) inserted (31.12.2020 with effect in relation to financial years beginning on or after IP completion day) by The Accounts and Reports (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/145), regs. 1(2)(b), 2, Sch. 2 para. 21(a)(i) (with reg. 7(2)) (as amended by S.I. 2020/523, regs. 1(2), 10, 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-ec36742f73e2e09ae1ddec499025f638]: Word in s. 73(1) substituted (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), art. 1(2), Sch. 2 para. 2(a)

[^key-ec4a8f5f1d5d4c27cfcd8469d742e794]: Words in s. 85(4C) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 34(6)(a) (with Sch. 12)

[^key-ed59c5c236c1cff3378af701c6806f68]: Words in Sch. 14 para. 3A(1) substituted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 13(b); 2020 c. 1, Sch. 5 para. 1(1)

[^key-ed93af59851037d635348ababb5a2f1f]: S. 62(7)(a) substituted for s. 62(7)(a)(b) (1.1.2010) by Legal Services Act 2007 (c. 29), s. 211(2), Sch. 21 para. 103(a) (with ss. 29, 192, 193); S.I. 2009/3250, art. 2(h)

[^key-eefddf17af7b04c459558f9e1a6e9e7c]: Words in s. 86(4) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 35(4)(a) (with Sch. 12)

[^key-ef2f6186c415390b7d2f85a3853118f2]: Words in s. 119(1) substituted (22.4.2014) by Crime and Courts Act 2013 (c. 22), s. 61(3), Sch. 9 para. 85(2); S.I. 2014/954, art. 2(c) (with art. 3) (with transitional provisions and savings in S.I. 2014/956, arts. 3-11)

[^key-f03c78cab086d46e8ee5227007e13f06]: Words in s. 14(10) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 7(3) (with Sch. 12)

[^key-f2b1771a077de25ba25898c0b3df5782]: Words in s. 69E(2) substituted (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 42(a)(i) (with reg. 1(3)(4), Sch. 1 para. 67) (as amended by S.I. 2020/523, regs. 1(2), 22, 25(e)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-f2b368f808adae6f0eb23ed3d8853e54]: Word in s. 58A(8)(d) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 20(3) (with Sch. 12)

[^key-f33319e1e96258ecdb41d34e4f31e5eb]: Words in Sch. 14 para. 1(1) substituted (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), art. 1(2), Sch. 2 para. 5(a)(i)

[^key-f3620739e4041c9a010d09fe075ee056]: Words in s. 69A(2) substituted (1.10.2020) by The Friendly Societies Act 1992 (Accounts) (Amendment) Order 2020 (S.I. 2020/782), arts. 1(2), 2(2)

[^key-f48cca017a2696bb02afb735de1b67d7]: S. 86: power to modify conferred (16.1.2009) by Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (c. 26), ss. 3, 6(2); S.I. 2009/36, art. 2

[^key-f501b0d916487344289a52e9ab61a074]: Words in Sch. 14 para. 3(1) substituted (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), art. 1(2), Sch. 2 para. 5(b)

[^key-f590c66ae59cb10532cbcac5cc74b544]: Words in Sch. 14 para. 15(2)(b) substituted (E.W.) (12.3.2015) by The Legal Aid, Sentencing and Punishment of Offenders Act 2012 (Fines on Summary Conviction) Regulations 2015 (S.I. 2015/664), reg. 1(1), Sch. 3 para. 7(4)(d) (with reg. 5(1))

[^key-f5baf074e18ba802a6cec8b9c5168a38]: Word in Sch. 10 para. 24(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. 53(4)(b) (with Sch. 12)

[^key-f64f9fa0ad1dd25c75453faf60a949fc]: S. 78(4A) inserted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 7

[^key-f76f6256350fbfbee2983ed866d3a331]: S. 86(3A) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 35(3) (with Sch. 12)

[^key-f7ab8e7d9e2e0fec77d840d52ac869d3]: Sch. 15 para. 15A(6)(a) omitted (31.12.2020) by virtue of The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 15(5)(f); 2020 c. 1, Sch. 5 para. 1(1)

[^key-f7c043774aac5aebe743e2474b8d3dbb]: S. 91(2A) inserted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 40(3) (with Sch. 12)

[^key-f85207ba15a3add8d2b29baefbd17b67]: S. 90(8)-(8B) substituted for s. 90(8) (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 39(5) (with Sch. 12)

[^key-f91371314ba9365dcf51f3356bda791d]: Word in s. 21(2) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 9(b) (with Sch. 12)

[^key-f99d7f5ad80ff406c8a20a38c486522b]: Words in Sch. 3 para. 14(6)(b) inserted (12.4.2011) by The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 11(2)(d)

[^key-f9e6577faf9d5cc708c08313f94fb503]: Words in s. 119(1) 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. 49(2)(a) (with Sch. 12)

[^key-fb7988a9ea44718bc7b13a33a83c4684]: Words in Sch. 12 para. 8(1) omitted (12.4.2011) by virtue of The Mutual Societies (Electronic Communications) Order 2011 (S.I. 2011/593), arts. 1(1), 19(2)

[^key-fb8e8902cd33326ef940a9352749111b]: S. 74B(1A) inserted (with effect in accordance with reg. 1(5) of the amending S.I.) by The Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516), regs. 1(2), 7

[^key-fbee05bf348f47886f03101e6d51d313]: Words in s. 78(2)(b) substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 32(2) (with Sch. 12)

[^key-fc1b146110f200d1bbcd4741cb3f641f]: S. 87(2)(a) substituted (31.12.2020) by The Friendly Societies (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1039), regs. 1, 9 (as amended by S.I. 2019/680, regs. 1(3), 7(2)); 2020 c. 1, Sch. 5 para. 1(1)

[^key-fc3eeab931dce7fb0546d6f4a4a7a535]: Word in s. 69E(5)(b) inserted (31.12.2020 with effect in relation to financial years beginning on or after IP completion day) by The Accounts and Reports (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/145), regs. 1(2)(b), 2, Sch. 2 para. 21(b)(i)(aa) (with reg. 7(2)) (as amended by S.I. 2020/523, regs. 1(2), 10, 11); 2020 c. 1, Sch. 5 para. 1(1)

[^key-fdbf6f048aa5d24df28fd0e3db1912ef]: Sch. 14 para. 17 omitted (29.6.2008 with effect in accordance with art. 1(3) of the amending S.I.) by virtue of The Friendly Societies Act 1992 (Accounts, Audit and EEA State Amendments) Order 2008 (S.I. 2008/1140), arts. 1(2), 4(4)(b)

[^key-fe5baac6710834710f0f7153f3badc06]: Words in s. 107(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. 45(5)(a) (with Sch. 12)

[^M_F_4bb24634-2ef1-4c74-e175-b7f95e28edd9]: Words in s. 119(1) omitted (17.8.2001 for specified purposes and 1.12.2001 for all other purposes) by virtue of The Financial Services and Markets Act 2000 (Mutual Societies) Order 2001 (S.I. 2001/2617), arts. 2, Sch. 3 para. 115(a)(vii), Sch. 4 (with art. 13(3), Sch. 5)

[^M_F_67ba4818-1431-4206-ae8a-31bce02b6666]: Sch. 15 para. 15(6) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 207(3)

[^M_F_aa56b53d-6823-4ca2-bb44-dbe5d4e0ff68]: Sch. 15 para. 15(1)(c)(v) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 207(2)(d)

[^M_F_e809d6c2-f2c2-4a50-ed50-01a011a190a3]: Sch. 15 para. 15(1)(c)(iv) repealed (1.12.2001) by virtue of S.I. 2001/3649, arts. 1, 207(2)(c)

69A

• (1) The committee of management of every friendly society or registered branch must prepare accounts for the society or branch for each of its financial years. Those accounts are referred to in this Part as the society’s or branch’s “individual accounts”.

• (2) The individual accounts of a friendly society or registered branch of a society may be prepared—

• (a) in accordance with section 69B (“Friendly Societies Act individual accounts”), or

• (b) in accordance with UK-adopted international accounting standards (“IAS individual accounts”).

This subsection is subject to subsections (2A) and (3), and section 69I (consistency of accounts).

• (2A) The individual accounts of—

• (a) a friendly society that is a charity, or

• (b) a registered branch of a friendly society that is a charity,

must be Friendly Societies Act individual accounts.

• (3) After the first financial year in which the committee of management of a friendly society or registered branch prepares IAS individual accounts (“the first IAS year”), all subsequent individual accounts of the society or branch must be prepared in accordance with UK-adopted international accounting standards unless there is a relevant change of circumstance. This is subject to subsection (4A).

• (4) There is a relevant change of circumstance if, at any time during or after the first IAS year—

• (a) the society or branch becomes a subsidiary undertaking of another undertaking and individual accounts for that undertaking are not prepared in accordance with UK-adopted international accounting standards,

• (aa) the society or branch ceases to be a subsidiary undertaking,

• (b) the society or branch ceases to be a society or part of a society with securities admitted to trading on a UK regulated market, or

• (c) a parent undertaking of the society or branch ceases to be an undertaking with securities admitted to trading on a UK regulated market.

“UK regulated market” has the meaning given in Article 2.1.13A of Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 and amending Regulation (EU) No. 648/2012.

• (4A) After a financial year in which the committee of management of a friendly society or registered branch prepares IAS individual accounts, the committee of management may change to preparing Friendly Societies Act individual accounts for a reason other than a relevant change of circumstance provided it has not changed to Friendly Societies Act individual accounts in the period of five years preceding the first day of that financial year.

• (4B) In calculating the five year period for the purpose of subsection (4A), no account should be taken of a change due to a relevant change of circumstance.

• (5) If, having changed to preparing Friendly Societies Act individual accounts ..., the committee of management again prepares IAS individual accounts for the society or branch, subsections (3) and (4) apply again as if the first financial year for which such accounts are again prepared were the first IAS year.

69B

• (1) Friendly Societies Act individual accounts must comprise—

• (a) a balance sheet as at the last day of the financial year, and

• (b) an income and expenditure account.

• (2) The balance sheet must give a true and fair view of the state of affairs of the society or branch as at the end of the financial year; and the income and expenditure account must give a true and fair view of the income and expenditure of the society or branch for the financial year.

• (3) Friendly Societies Act individual accounts must comply with the requirements of regulations made under section 69C as to the form and content of the balance sheet and income and expenditure account and additional information to be provided by way of notes to the accounts or otherwise.

• (4) Where compliance with the provisions of those regulations, and the other provisions of this Act as to the matters to be included in a society’s or branch’s individual accounts or in notes to those accounts, would not be sufficient to give a true and fair view, the necessary additional information must be given in the accounts or in a note to them.

• (5) If in special circumstances compliance with any of those provisions is inconsistent with the requirement to give a true and fair view, the committee of management must depart from that provision to the extent necessary to give a true and fair view.

• (6) Particulars of any such departure, the reasons for it and its effect must be given in a note to the accounts.

• (7) The Treasury may by regulations –

• (a) add to the classes of documents to be comprised in a society’s or branch’s Friendly Societies Act individual accounts under subsection (1);

• (b) make provision as to the matters to be included in any document so added;

• (c) modify the requirements of this Part as to the matters to be stated in any document comprised in the society’s or branch’s Friendly Societies Act individual accounts;

• (d) reduce the classes of documents to be comprised in a society’s or branch’s Friendly Societies Act individual accounts.

• (8) Regulations under subsection (7) –

• (a) may make different provision for different cases, and

• (b) may include incidental and supplementary provisions.

69C

• (1) The Treasury must by regulations make provision with respect to the form and content of Friendly Societies Act individual accounts.

• (2) The Treasury may by regulations make provision with respect to additional information to be contained in Friendly Societies Act individual accounts, whether in the form of notes or otherwise.

• (3) The regulations may, in particular–

• (a) prescribe accounting principles and rules;

• (b) require corresponding information for a preceding financial year;

• (c) make different 'provision for different descriptions of society or branch.

69D

Where the committee of management of a friendly society prepare IAS individual accounts for a society or branch, it must state in the notes to those accounts that the accounts have been prepared in accordance with UK-adopted international accounting standards.

69E

• (1) If at the end of a financial year an incorporated friendly society has subsidiary undertakings, the committee of management, in addition to preparing individual accounts for the year, must prepare consolidated accounts for the year for the society and those undertakings taken as a whole, except as provided by regulations under subsection (7).

Those accounts are referred to in this Part as the society’s “group accounts”.

• (2) Certain friendly societies are obliged by section 403(1) of the Companies Act 2006 to prepare their group accounts in accordance with UK-adopted international accounting standards (“IAS group accounts”).

• (3) The group accounts of other friendly societies may be prepared –

• (a) in accordance with section 69F (“Friendly Societies Act group accounts”), or

• (b) in accordance with UK-adopted international accounting standards (“IAS group accounts”).

This subsection is subject to the following provisions of this section and section 69I (consistency of accounts).

• (3A) The group accounts of a friendly society that is a charity must be Friendly Societies Act group accounts.

• (4) After the first financial year in which the committee of management of a friendly society prepares IAS group accounts (“the first IAS year”), all subsequent group accounts of the society must be prepared in accordance with UK-adopted international accounting standards unless there is a relevant change of circumstance. This is subject to subsection (5A).

• (5) There is a relevant change of circumstance if, at any time during or after the first IAS year—

• (a) the society becomes a subsidiary undertaking of another undertaking and accounts for that undertaking and its subsidiary undertakings (taken as a whole) are not prepared in accordance with UK-adopted international accounting standards,

• (b) the society ceases to be a society with securities admitted to trading on a UK regulated market, or

• (c) a parent undertaking of the society ceases to be an undertaking with securities admitted to trading on a UK regulated market.

...

• (5A) After a financial year in which the committee of management of a friendly society prepares IAS group accounts, the committee of management may change to preparing Friendly Societies Act group accounts for a reason other than a relevant change of circumstance provided it has not changed to Friendly Societies Act group accounts in the period of five years preceding the first day of that financial year.

• (5B) In calculating the five year period for the purpose of subsection (5A), no account should be taken of a change due to a relevant change of circumstance.

• (6) If, having changed to preparing Friendly Societies Act group accounts ..., the committee of management again prepares IAS group accounts for the society, subsections (4) and (5) apply again as if the first financial year for which such accounts are again prepared were the first IAS year.

• (7) The Treasury may by regulations exempt specified descriptions of incorporated friendly societies with subsidiaries from any duty to prepare group accounts.