This section may be of relevance to a directive friendly society:
if it has 10 members or less;
if it has a delegate voting system and has 10 delegates or less; or
if it has 20 members or less and effects or carries out group insurance contracts where one person may exercise one vote on behalf of the members of a group and one vote in their private capacity; or
where a member or delegate, whether alone or with any associate, is entitled to exercise, or control the exercise of, 10% or more of the total voting power.
to ensure that, in addition to such notifications, the FSA receives regular and comprehensive information about the identities of all of the controllers of a firm, which is relevant to a firm's continuing to satisfy the threshold conditions (see COND 2.3) and to the protection of consumers;
to implement certain requirements relating to annual reporting of controllers which must be imposed on firms under the Investment Services Directive, the Banking Consolidation Directive, the Third Life Directive and the Third Non-Life Directive; and
If a firm is not aware:
that it has any controllers; or
of any changes in the identity of its controllers since the submission of its previous report under (1); or
then the report in (1) must confirm this.
if the controller is an individual, his date and place of birth.
In this section, 'associate' and 'shares' have the meanings given in the definition of controller.
The information required by SUP 16.4.5 R(4) may be provided in the form of a group organisation chart.
If a group includes more than one firm, a single annual controllers report may be submitted, and so satisfy the requirements of all firms in the group. Such a report should contain the information required from all of them, meet all relevant due dates, indicate all the firms on whose behalf it is submitted and give their FSA firm reference numbers. Nevertheless, the requirement to provide a report, and the responsibility for the report, remain with each firm in the group.1
3In SUP 16.4.5 R and SUP 16.4.10 R, a building society may regard a person as not being a controller if that person is exempt from the obligation to notify a change in control under The Financial Services and Markets Act 2000 (Controllers) (Exemption) (No.2) Order 2001 (SI 2001/3338) (see SUP 11.3.2A G (2)).