Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

SUP 18 Annex 1 Friendly Society transfer or amalgamation (Information requirements related to Schedule 15 Friendly Societies Act 1992) (This belongs to SUP 18.4.22G)

G

Transfer/Amalgamation of [Society A] to/with [Society B]

Proposed effective date:

Comparative financial positions

(a) Balance Sheet as at 31 December 20-

Society A

Society B

ASSETS

Land and buildings (4)

Government securities

Equities

Other investments (6)

Fixed assets

Other assets

Cash at bank and in hand

___________

___________

___________

___________

LIABILITIES

Benefit funds [technical provisions] (7)

[Management fund]

Other liabilities and provisions

Reserve funds [Reserves] (8)

___________

___________

___________

___________

___________

___________

NOTES

(1)

The above figures are extracted from the audited accounts [unaudited accounts] of [Society A and Society B] for the year [period] ended:

(2)

There has been no significant change in the financial position of the [participants] [except for ]

(3)

The future capital commitments of [the participants] are:[None of [the participants] has any significant future capital commitments.]

(4)

Land and buildings have been brought into account on the following bases: (include statement of any differences in accounting policies and where material any estimated financial effects)

(5)

Investments have been brought into account on the following bases: (include statement of any differences in accounting policies and where material any estimated financial effects)

(6)

Other investments comprise: (include statement of any differences in accounting policies and where material any estimated financial effects)

(7)

Benefit Funds [Technical Provisions] comprise:(include statement of any differences in accounting policies and where material any estimated financial effects)

(8)

Reserve Funds [Reserves] comprise:

(9)

The membership at [ ] and premium income received during [ ] for each [participant] were:

(10)

Brief summary of the financial position of each [participant] as shown in the last actuarial investigation:

(11)

Summary of independent actuary's report under section 88 of the Friendly Societies Act 1992:

(12)

The interests of committee members of the [participants] in the transfer [amalgamation] are:

(13)

Proposed compensation to be paid to committee members and[/or] to other officers is:

(14)

The terms of the transfer[amalgamation] are: