The Friendly Societies Act 1992 (Transitional and Consequential Provisions and Savings) Regulations 1993
These Regulations make transitional and consequential provisions and savings in consequence of the coming into force of provisions of the Friendly Societies Act 1992 by virtue of the Friendly Societies Act 1992 (Commencement No. 3 and Transitional Provisions) Order 1993 (S.I. 1993/16 (c.1)). They provide for the continuation of any outstanding obligations to carry out annual, triennial or quinquennial actuarial investigations and to make valuation reports under regulation 11 of the Friendly Societies (Long Term Insurance Business) Regulations 1987 (S.I. 1987/2132) and section 41 of the Friendly Societies Act 1974 respectively in relation to incorporated friendly societies which have not met such obligations at the date of incorporation; for the participation by incorporated friendly societies in voluntary indemnity schemes for registered or incorporated friendly societies and their members pending the coming into force of section 97 of the Friendly Societies Act 1992 which will extend the Policyholders Protection Act 1975 to contracts of insurance with friendly societies; for the treatment of the calendar year in which a registered friendly society incorporates as a single financial year for the purpose of calculating its annual contribution income under subsections (2) and (3) of section 37 of the 1992 Act; for the determination of disputes involving registered friendly societies, other societies registered under the Friendly Societies Act 1974 and industrial and provident societies by the courts instead of by the Chief Registrar or an assistant registrar where so provided under the rules; and for the continuing validity of certificates of exemption granted to collecting societies under section 10 of the Industrial Assurance Act 1923.