keep The Deregulation (Friendly Societies Act 1992) Order 1996
The Deregulation (Friendly Societies Act 1992) Order 1996 amends the Friendly Societies Act 1992 to reduce regulatory burden. Key changes include: repealing section 46(6) annual investigation requirements and simplifying subsection (7); reducing required copies of altered rules from four to three; inserting section 103(4)-(9) allowing the Commission to waive or modify regulations for specific societies subject to conditions and public registration; repealing Schedule 3 paragraph 9(2); and adding similar waiver powers in Schedule 15 for amalgamations and transfers. The Order is a deregulation measure intended to provide flexibility to friendly societies.
This Order directly furthers the goal of reducing regulatory burden by eliminating unnecessary administrative requirements (reducing copy counts, repealing certain annual investigation obligations) and providing proportionate flexibility mechanisms. The new waiver powers, while maintaining Commission oversight, allow bespoke treatment of societies where standard rules impose undue cost without proportionate benefit. Britons would be worse off if deleted as it removes modest but real deregulation that reduces compliance costs for friendly societies without compromising core protections, and its flexible application mechanism represents good regulatory design that should be preserved as a model.