UNITED KINGDOM STATUTORY INSTRUMENT
2000 No. 674
FRIENDLY SOCIETIES
The Friendly Societies (General Charge and Fees) Regulations 2000
Made 8th March 2000
Laid before Parliament 9th March 2000
Coming into force 1st April 2000
The Treasury, in exercise of the powers conferred upon them by sections 2(2) and (4) and 114(2) of the Friendly Societies Act 1992and section 104(1) of the Friendly Societies Act 1974, hereby make the following Regulations:
S-1
Citation and CommencementCitation and Commencement
1. These Regulations may be cited as the Friendly Societies (General Charge and Fees) Regulations 2000 and shall come into force on 1st April 2000.
Interpretation
2. In these Regulations–
“the 1974 Act” means the Friendly Societies Act 1974;
“the 1992 Act” means the Friendly Societies Act 1992;
“Accounting year” means the period of 12 months ending with 31st March;
“amalgamation” means an amalgamation under section 85 of the 1992 Act or under section 82 of the 1974 Act;
“the central office” has the meaning given in section 119 of the 1992 Act;
“the Chief Registrar” means the Chief Registrar of Friendly Societies;
“the Commission” means the Friendly Societies Commission;
“conversion” means conversion under section 91 of the 1992 Act or under section 84 of the 1974 Act;
“society” means a society registered under the 1974 Act or a society incorporated under the 1992 Act; and
“transfer of engagements” means a transfer of engagements under section 86 of the 1992 Act or under section 82 of the 1974 Act.
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General charge in respect of the accounting year beginning 1st April 2000General charge in respect of the accounting year beginning 1st April 2000
3.—(1) A friendly society which on 1st April 2000 is a registered or incorporated society shall pay to the Commission, with respect to the accounting year beginning on that date, a sum determined in accordance with Schedule 1 to these Regulations using the value of the friendly society’s specified income for the year ended 31st December 1999 as determined in accordance with that Schedule.
(2) Where, after 31st December 1999 and before 1st April 2000, a friendly society has transferred its engagements to another friendly society, the transferee friendly society shall, in addition to any other sum payable by it under this regulation, pay, with respect to the accounting year beginning 1st April 2000, any sum which would have been payable by the transferor friendly society had it been subject to paragraph (1) above.
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Payment of the general chargePayment of the general charge
4. Any sums payable under regulation 3 above by a friendly society shall be paid on or before 1st September 2000.
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Fees in respect of particular functions of central office, Chief Registrar and CommissionFees in respect of particular functions of central office, Chief Registrar and Commission
5.—(1) Upon making an application of a nature specified in Schedule 2 to these Regulations, the person who makes that application shall pay the relevant fee specified in that Schedule in respect of the examination of the application by the central office, Chief Registrar or the Commission (as the case may be).
(2) Any sums payable under paragraph (1) above shall be paid, in respect of functions performed by the Chief Registrar or the central office, to the Chief Registrar and in respect of functions performed by the Commission, to the Commission.
(3) The fees specified at paragraphs 20 and 22 in Schedule 2 to these Regulations may be reduced by the Commission to the fees specified in paragraphs 21 and 23 of Schedule 2 in any case where an application is made to the Commission by any of the societies concerned in a proposed amalgamation or transfer of engagements, as the case may be, which is a society to which section 37(2) or (3) of the 1992 Act does not apply, to the effect that such a society would otherwise be deterred from proceeding with such an amalgamation or transfer of engagements, if the fee specified at paragraph 20 or 22, as the case may be, were to apply.
(4) Where it is proposed to transfer the engagements of one friendly society to another, and the proposed transferee:
(i)
(i) applies to the Commission:
(a) for an extension of its authorisation under section 32 of the 1992 Act in order that, if the Commission confirms the transfer, it will be authorised to fulfil the engagements proposed to be transferred to it; and
(b) for a reduction of the fee specified at paragraph 3 of Schedule 2 to these Regulations;
and
(ii)
(ii) certifies to the Commission that it does not intend to effect any insurance contracts or contracts for non-insurance benefits (as the case may be) pursuant to the extension of its authorisation;
the fee may be reduced by the Commission to that specified in paragraph 4 of Schedule 2.
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Inspection and copying feesInspection and copying fees
6. Any person wishing to inspect or to be furnished with a copy of any document in the custody of the central office shall, upon making such request to inspect or to be furnished with a copy, as the case may be, pay to the Chief Registrar the relevant fee specified in Schedule 3 to these Regulations.
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Revocation of regulations relating to the preceding accounting yearRevocation of regulations relating to the preceding accounting year
7. The Friendly Societies (General Charge and Fees) Regulations 1999are hereby revoked.
Clive Betts
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
8th March 2000
SCHEDULE 1
Regulation 3
GENERAL CHARGE PAYABLE BY SOCIETIES
1. The sum specified in this Schedule is the sum determined by the formula–
where
A
0.55/100, and
B
the specified income for the year ended 31st December 1999 as determined in accordance with paragraphs 2 to 4 below provided that–
(a) where the resultant sum exceeds £47,000, the sum is £47,000; and
(b) where the resultant sum is less than £350, the sum is £350.
Specified income
2. In respect of a society to which section 37(2) or (3) of the 1992 Act applies, which is an incorporated society or which carries on reinsurance business and which, for the year ended 31st December 1999, was required under section 69 of the 1992 Act to prepare annual accounts in the form specified in section 70 of the 1992 Act and in the Friendly Societies (Accounts and Related Provisions) Regulations 1994(“the Accounts Regulations ”), the value of the specified income for that year is the sum of the amounts entered as income items I.1, I.2a.(b), II.1, II.2.(b) and III.3.(b) in the income and expenditure account prepared by the society in accordance with Part I of Schedule 1 to the Accounts Regulations and the specified income for the year ended 31st December 1999 of every registered branch of the society as determined in accordance with paragraph 4 below.
3. In respect of a society to which section 37(2) or (3) of the 1992 Act does not apply, which is a registered society and which does not carry on reinsurance business and which, for the year ended 31st December 1999, was required under section 69 of the 1992 Act to prepare annual accounts in the form specified in section 70 of the 1992 Act and in the Accounts Regulations, the value of the specified income for that year is the sum of the amounts entered as income items 1.(a), 1.(b)(i) and 1.(c) in the income and expenditure account prepared by the society in accordance with Part I of Schedule 7 to the Accounts Regulations and the specified income for the year ended 31st December 1999 of every registered branch of the society as determined in accordance with paragraph 4 below.
4. In respect of a registered branch which, for the year ended 31st December 1999, was required under section 69 of the 1992 Act to prepare annual accounts in the form specified in section 70 of the 1992 Act and in the Accounts Regulations, the value of the specified income for that year is the sum of the amounts entered as income items 1.(a), 1.(b)(i) and 1.(c) in the income and expenditure account prepared by the branch in accordance with Part I of Schedule 7 to the Accounts Regulations or which would be so entered were the branch required to prepare its income and expenditure account in accordance with that part of that Schedule but leaving out of account the amount of any income received from the central body having control of the branch or from another registered branch of the society.
SCHEDULE 2
Regulation 5
FEE PAYABLE FOR CENTRAL OFFICE, CHIEF REGISTRAR OR COMMISSION FUNCTIONS
Nature of application |
fee payable |
£ |
|
1. For the incorporation of a friendly society and the registration of the friendly society’s rules–
(a) where it relates to a new friendly society
|
940 |
(b) where it relates to an existing society |
780 |
2. For the registration of a branch |
205 |
3. For the grant of authorisation under section 32 of the 1992 Act in respect of each class of insurance business and each description of non-insurance business authorised |
1,120 |
4. For the grant of authorisation under section 33 of the 1992 Act |
180 |
|
5. For the registration of an annual return or a set of annual accounts (except where the society or branch concerned has by written notice sent to the central office irrevocably elected to pay the fees specified in paragraph 6 of this Schedule)–
(i) where it relates to a society
|
140 |
(ii) where it relates to a branch |
65 |
|
6. The fees specified in this paragraph shall be payable where the society or branch concerned has by notice made an election under paragraph 5 of this Schedule:
(a) for the acknowledgement of registration of an amendment to rules (including approval of name in the case of an amendment effecting a change of name of a society or a branch)–
(i) if the amendment substitutes an entire set of rules for the existing set of rules (except as provided in paragraph 19 of this Schedule)–
(A) where made by a society
|
525 |
(B) where made by a branch |
170 |
|
(ii) if the amendment does not substitute an...
|
