THE FRIENDLY SOCIETIES (GENERAL CHARGE AND FEES) REGULATIONS 1999
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 1999 and is expected to raise £1.26 million (an increase of 26 per cent from that raised for the accounting year beginning 1st April 1998). In accordance with Schedule 1, each friendly society is required to pay 0.435% of its “specified income” for the year to 31st December 1998, subject to a minimum of £300 and a maximum of £36,000. (Under the Friendly Societies (Fees and Charges) Regulations 1998 (“the 1998 Regulations”) the percentage was 0.35%, and the minimum and maximum £250 and £29,000 respectively.) Where a society has a registered branch, the “specified income” includes that of the branch, save to the extent that the specified income of the branch comprises income received from the central body or from another registered branch of the society.