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Version date: 24 January 2013 - onwards
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50. Mutual societies: power to transfer functions

(1) The Treasury may by order amend the legislation relating to mutual societies for any of the relevant purposes.

(2) "The legislation relating to mutual societies" means -

(a) the Industrial and Provident Societies Act 1965;

(b) the Industrial and Provident Societies Act 1967;

(c) the Friendly and Industrial and Provident Societies Act 1968;

(d) the Industrial and Provident Societies Act (Northern Ireland) 1969;

(e) the Friendly Societies Act 1974;

(f) the Credit Unions Act 1979;

(g) the Credit Unions (Northern Ireland) Order 1985;

(h) the Building Societies Act 1986;

(i) the Friendly Societies Act 1992.

(3) The relevant purposes are -

(a) providing for any function of the FSA to be exercisable by that body corporate as the FCA;

(b) providing for any function of the FSA to be transferred to the PRA;

(c) providing for any function of the FSA to be exercisable by that body corporate as the FCA and also to be exercisable concurrently by the PRA;

(d) providing for any function which is e

Comparing proposed amendment...