87 Actuary's report as to margin of solvency
Friendly Societies Act 1992 (1992 c 40) | Legislation

87  Actuary's report as to margin of solvency

(1)     This section applies where a friendly society (“the transferor”) proposes to transfer any of its engagements under section 86 above to another friendly society (“the transferee”).

(2)     Where—

[(a)     the fulfilment of any of the engagements to be transferred will constitute the carrying on of insurance business in the United Kingdom or Gibraltar, and]

(b)     the transferee will, after taking the proposed transfer into account, be [required by rules made by the [appropriate authority under Part 9A] of the Financial Services and Markets Act 2000 to maintain the margin of solvency required by

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