BAILII is celebrating 24 years of free online access to the law! Would you consider making a contribution?
No donation is too small. If every visitor before 31 December gives just £1, it will have a significant impact on BAILII's ability to continue providing free access to the law.
Thank you very much for your support!
 |
[Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback] | |
United Kingdom Statutory Instruments |
||
|
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Friendly Societies (Insurance Business) (Amendment) Regulations 1997 No. 966 URL: http://www.bailii.org/uk/legis/num_reg/1997/uksi_1997966_en.html |
||
[New search] [Help]
Statutory Instruments
FRIENDLY SOCIETIES
Made
18th March 1997
Laid before Parliament
21st March 1997
Coming into force
21st April 1997
The Friendly Societies Commission, with the consent of the Treasury, in exercise of the powers conferred upon it by sections 45(1) and 121(3) of the Friendly Societies Act 1992(1), hereby makes the following Regulations:
1. These Regulations may be cited as the Friendly Societies (Insurance Business) (Amendment) Regulations 1997 and shall come into force on 21st April 1997.
2. In sub-paragraph (a) of paragraph (3) of regulation 31 of the Friendly Societies (Insurance Business) Regulations 1994(2) after the words "within a period" there shall be inserted the words "not exceeding the period".
In witness whereof the common seal of the Friendly Societies Commission is hereunto fixed, and is authenticated by me, a person authorised under paragraph 13 of Schedule 1 to the Friendly Societies Act 1992 on
L.S.
B F D'Silva
17th March 1997.
We consent.
Patrick Mcloughlin
Roger Knapman
Two of the Lords Commissioners of Her Majesty's Treasury
18th March 1997
(This note is not part of the Regulations)
These Regulations amend regulation 31 of the Friendly Societies (Insurance Business) Regulations 1994 (as substituted by the Friendly Societies (Insurance Business) Amendment Regulations 1996). Regulation 31(3)(a) is amended so that, for the purposes of the Regulations, a contract or asset which is not a listed security does not have the effect of a derivative contract by reason only that it provides for the unconditional delivery of, or payment for, assets within a period beginning on the date of the contract and extending for not more than 20 working days.
1992 c. 40. The Act was amended by the Friendly Societies (Amendment) Regulations 1993 (S.I. 1993/2519), the Friendly Societies Act 1992 (Amendment) Regulations 1994 (S.I. 1994/1984), the Deregulation (Friendly Societies Act 1992) Order 1996 (S.I. 1996/1188) and by the Financial Institutions (Prudential Supervision) Regulations 1996 (S.I. 1996/1669).
