The Friendly Societies (General Charge and Fees) Regulations 2001
These Regulations provide for a general charge to be paid by friendly societies towards the expenses of the Friendly Societies Commission. The charge is levied with respect to the Commission’s accounting year beginning 1st April 2001 and is expected to raise £1.7 million (an increase of 5% from that raised for the accounting year beginning 1st April 2000). In accordance with Schedule 1, each society is required to pay 0.57% of its “specified income” for the year to 31st December 2000, subject to a minimum charge of £375 and a maximum of £50,000. (Under the Friendly Societies (General Charge and Fees) Regulations 2000 (“the 2000 Regulations”) the percentage was 0.55%, and the minimum and maximum £350 and £47,000 respectively.)