86 Transfer of engagements by or to friendly society
Friendly Societies Act 1992 (1992 c 40) | Legislation

Transfers of engagements

86  Transfer of engagements by or to friendly society

(1)     A friendly society may, in accordance with this Part of this Act, transfer its engagements to any extent to any of the following persons, that is to say—

(a)     . . .

(b)     to an industrial and provident society;

[(c)     to a company registered under the Companies Act 2006;]

(d)     in relation to engagements the fulfilment of which will constitute the carrying on of insurance business, to any other person who is an [insurer];

(e)     in relation to engagements the fulfilment of which will not constitute the carrying on of insurance business, to a person (or body of persons) who is not of a description specified in [paragraph (b), (c) or (d) above].

(2)     A friendly society, in order to transfer any of its engagements, must—

(a)     comply with the applicable requirements of Part I of Schedule 15 to this Act;

(b)     resolve to transfer the engagements by special resolution;

(c)     if the transfer is of some but not all of its engagements, resolve to do so by an affected members' resolution;

(d)

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