Statutory Instruments

1993 No. 2826

INDUSTRIAL ASSURANCE

The Collecting Societies (Returns) Regulations 1993

Made

16th November 1993

Laid before Parliament

19th November 1993

Coming into force

1st January 1994

The Friendly Societies Commission, with the approval of the Treasury, in exercise of the powers conferred on it by section 13(1) and (2) of the Industrial Assurance and Friendly Societies Act 1948(1) and section 43 of the Industrial Assurance Act 1923(2) and of all other powers enabling it in that behalf hereby makes the following Regulations:

1.-(1) These Regulations may be cited as the Collecting Societies (Returns) Regulations 1993 and shall come into force on 1st January 1994.

(2) These Regulations do not extend to the Isle of Man and the Channel Islands.

2.-(1) Every collecting society shall not later than 30th June or 14 days before its annual general meeting, whichever is the earlier, in 1995 and each subsequent year send to the Commission a return relating to its industrial assurance policies for the previous year containing the particulars prescribed in Part I of the Schedule to these Regulations.

(2) A collecting society whose industrial assurance fund at the end of the year to which the return relates exceeded £1,000,000 or whose premium income from industrial assurance policies during that year exceeded £150,000 shall include in its return of industrial assurance policies for that year the particulars prescribed in Part II of the Schedule to these Regulations.

3. Nothing in these Regulations shall affect the operation of the Industrial Assurance (Collecting Society Returns) Regulations 1968 (3) in respect of returns relating to the year 1993 or any earlier year.

4. Subject to Regulation 3 of these Regulations, the Industrial Assurance (Collecting Society Returns) Regulations 1968 are revoked.

In witness whereof the common seal of the Friendly Societies Commission is hereunto fixed, and is authenticated by me, a person authorised under paragraph 13 of Schedule 1 to the Friendly Societies Act 1992, on 9th November 1993.

L.S.

Michael Cook

Secretary to the Commission

We approve these Regulations

Irvine Patnick

Timothy Wood

Two of the Lords Commissioners of Her Majesty's Treasury

16th November 1993

Regulation 2

SCHEDULE

PART I

PART II

Explanatory Note

(This note is not part of the Regulation)

These Regulations revoke and re-enact the Industrial Assurance (Collecting Society Returns) Regulations 1968 with minor and drafting amendments and the following changes of substance. Collecting societies are required to submit annual returns relating to industrial assurance policies for the year 1994 and subsequent years to the Friendly Societies Commission instead of the Industrial Assurance Commissioner. The period for making returns is changed to bring it into line with the period for submitting accounts under section 78 of the Friendly Societies Act 1992.

(1)

1948 c. 39; section 13(1) was amended by paragraph 14 of Schedule 19 to the Friendly Societies Act 1992 (c. 40) to transfer this power to the Commission.Section 23(1)(e), added by paragraph 16(b) of Schedule 19 to the Friendly Societies Act 1992, contains a definition of "the Commission".

(2)

1923 c. 8; section 43 was amended by paragraph 5(1)(e) of Schedule 19 to the Friendly Societies Act 1992 to transfer this power to the Commission.Section 45(1), as amended by paragraph 12 of Schedule 19 to the Friendly Societies Act 1992, contains a definition of "the Commission".Section 25(4) of the Industrial Assurance and Friendly Societies Act 1948 provides that that Act is to be construed as one with the Industrial Assurance Act 1923.

(3)

S.I. 1968/1585.