The Friendly Societies (Insurance Business) (Amendment) Regulations 1996
These Regulations make amendments to Parts II to VII of the Friendly Societies (Insurance Business) Regulations 1994. They principally concern the valuation of assets and the determination of liabilities of societies for the purposes of the Friendly Societies Act 1992. They also amend Schedule 2 to the 1994 Regulations, concerning the determination of the required margin of solvency in respect of general business (regulation 25), regulation 51 of those Regulations, concerning the methods by which benefits payable to policyholders under linked long-term contracts of insurance may be determined (regulations 22 and 27), and regulations 53 and 56, concerning insurance statistics (regulations 23 and 24).