The Friendly Societies (General Charge and Fees) (Amendment) Regulations 1994
These Regulations amend the Friendly Societies (General Charge and Fees) Regulations 1993, which provide for the general charge to be paid by a friendly society towards the expenses of the Friendly Societies Commission, by raising the maximum charge payable from £14,000 to £16,000 and imposing a charge of £16,000 for a society which incorporated during 1993. The charge is levied with respect to the Commission’s accounting year beginning on 1st April of each year and for the year 1994-95 is expected to raise £0.55 million. A friendly society (subject to a requirement to pay a minimum of £150 or a maximum of £16,000) is required to pay a sum equal to 0.22% of its specified income, as indicated by its contributions from members and interest on investments reported in its annual return submitted for the previous year. Those societies which incorporated during 1993 would on the basis of this formula have to pay the maximum. The annual return forms are prescribed by the Chief Registrar under section 43(6) of the 1974 Act and are available from the Registry of Friendly Societies at 15 Great Marlborough St., London, W1V 2AX.