In regulation 5(11)(j) (the competent authority: sanctioning powers) [Paragraph (11)(j) was amended by regulation 14(2) of the Statutory Auditors and Third Country Auditors Regulations 2017 (S.I. 2017/516).], for "an insurance undertaking within the meaning given by Article 2.1 of Council Directive 1991/674/EEC on the annual accounts and consolidated accounts of insurance undertakings" substitute "a friendly society that is subject to special requirements under that Act (see section 78A(3) of that Act)".