(1) Section 117(8) of the Friendly Societies Act 1992 (meaning of "provision of insurance") is repealed.
(2) Section 119 of the Friendly Societies Act 1992 (interpretation) is amended as follows.
(3) In the definition of "supervisory authority" in subsection (1) [The definition of "supervisory authority" was inserted by S.I. 1994/1984, regulation 30(f). ] for the words "insurance companies" substitute "persons whose business consists of effecting or carrying out contracts of insurance".
(4) In subsection (1A) [Subsections (1A) and (1B) were inserted by S.I. 1996/1669, Schedule 5, paragraph 6.] for the words "Prudential Supervision Directive" to the end of that subsection substitute "European Parliament and Council Directive of 29th June 1995 amending Directives 77/780/EEC and 89/646/EEC in the field of credit institutions, Directives 72/239/EEC and 92/96/EEC in the field of non-life insurance, Directives 79/267/EEC and 92/49/EEC in the field of life assurance, Directive 93/22/EEC in th
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