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STATUTORY INSTRUMENTS
2001 No. 3677
FRIENDLY SOCIETIES
The Friendly Societies Act 1992 (Industrial Assurance) (Channel Islands) Order 2001
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Made |
14th November 2001 | |
| |
Coming into force |
1st December 2001 | |
At the Court at Buckingham Palace, the 14th day of November 2001
Present,
The Queen's Most Excellent Majesty in Council
Her Majesty, in exercise of the powers conferred on her by section 125 of the Friendly Societies Act 1992[1], is pleased, by and with the advice of Her Privy Council, to order, and it is hereby ordered as follows: -
1.
This Order may be cited as the Friendly Societies Act 1992 (Industrial Assurance) (Channel Islands) Order 2001 and comes into force on 1st December 2001.
2.
The following provisions of the Friendly Societies Act 1992 are extended to the Bailiwick of Guernsey and the Bailiwick of Jersey -
(a) section 100 (industrial assurance);
(b) in Part 1 of Schedule 19 -
(i) paragraph 1,
(ii) paragraph 2 (substitution of subsection (1A) and amendment of subsection (2) of section 1[2] of the Industrial Assurance Act 1923),
(iii) paragraph 7 (substitution of section 23 of the Industrial Assurance Act 1923),
(iv) paragraph 9 (substitution of section 32 of the Industrial Assurance Act 1923),
(v) paragraph 12 (insertion of definitions of "the Commission", "friendly society" and "incorporated friendly society" and "the relevant authority" into section 45(1) of the Industrial Assurance Act 1923).
A.K. Galloway
Clerk of the Privy Council
EXPLANATORY NOTE
(This note is not part of the Order)
This Order extends to the Channel Islands provisions of the Friendly Societies Act 1992 which amended the Industrial Assurance Act 1923. The Order is made to enable transitional savings of the Industrial Assurance Acts to apply in similar fashion in the Channel Islands as in the United Kingdom, when section 416 of the Financial Services and Markets Act 2000 comes into force on 1st December 2001. Section 416 of the 2000 Act repeals, amongst other things, the Industrial Assurance Acts. The transitional savings (which will be contained in a separate Order) ensure that policyholders who entered into policies before the repeal of the Industrial Assurance Acts retain the benefit of the special protections that such policies attracted.
Notes:
[1]
1992 c. 40.back
[2]
Subsection (1A) was inserted by the Companies Act 1967 (c. 81), section 99 and Schedule 6 Part II. This amendment extended to the Channel Islands by virtue of section 108(2) and (3)(g) of that Act.back
ISBN
0 11 038810 0
| © Crown copyright 2001 |
Prepared
20 November 2001
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