The Financial Services and Markets Act 2000 (Mutual Societies) Order 2001

35.  In section 91(1)—

(a) for subsection (1) there is substituted—

“(1) Subject to the following provisions of this section, the Authority may by notice in writing cancel the registration of a society—

(a) at the request of the society, if the Authority thinks fit; or

(b) if the Authority is satisfied that—

(i) an acknowledgement of registration has been obtained by fraud or mistake;

(ii) the society exists for an unlawful purpose;

(iii) the society has wilfully and after notice from the Authority violated any provision of this Act;

(iv) the society has ceased to exist; or

(v) in the case of a society to which section 37(2) or (3) of the 1992 Act applies, the principal place of business of the society is outside the British Islands.

(1A) The request mentioned in subsection (1)(a) must be evidenced in such way as the Authority may direct.”,

(b) in subsection (2), for the words from “paragraph (b)” to “hand,” there is substituted “any of sub-paragraphs (i) to (iv) of subsection (1)(b) above in which the Authority might cancel the registration of a society, it may by notice in writing”,

(c) in subsection (3), for the words “Chief or assistant registrar before its” there is substituted “Authority before the society's”, and

(d) in subsection (5), for the words from “Chief” to “hand” there is substituted “Authority may by notice in writing”.

(1)

Section 91 was amended by the Friendly Societies Act 1992, Schedule 16 paragraph 37, and by S.I. 1996/1669; subsections (1) and (2) were extended by the Financial Services Act 1986, Schedule 11 paragraph 26(2).