
1 

(1) These Regulations may be cited as the Financial Services Act 1986 (Restriction of Right of Action) (Friendly Societies) Regulations (Northern Ireland) 1991 and shall come into operation on 16th September 1991
(2) In these Regulations—
(a) “the Act” means the Financial Services Act 1986: and
(b) “society or organisation” means any society or organisation falling within paragraph (b) of the definition of “Registrar” in paragraph 1 of Schedule 11 to the Act.
2 
For the purposes of paragraph 22A(1) of Schedule 11 to the Act, the expression private investor, in relation to any society or organisation. means an individual who is neither an authorised person under Chapter III, nor an exempted person under Chapter IV. of Part I of the Act
3 
In relation to any society or organisation the following circumstances are specified for the purposes of paragraph 22A(1) of Schedule 11 to the Act as being circumstances in which action shall lie at the suit of a person other than a private investor—
(a) circumstances in which an individual who is an authorised person under Chapter III, or an exempted person under Chapter IV. of Part 1 of the Act suffers a loss otherwise than in the course of investment business carried on by him;
(b) circumstances in which there is or has been a contravention of any prohibition or requirement imposed under Chapter VI of Part 1 of the Act as it applies by virtue of paragraph 23 of Schedule 11 to the Act;
(c) circumstances in which there is or has been a contravention of any requirement imposed under paragraph 24 of Schedule 11 to the Act; or
(d) circumstances in which the contravention in question is a contravention of any rule, regulation, condition or requirement prohibiting a person from seeking to make provision excluding or restricting any duty or liability.
S. McElrea
Registrar of Friendly Societies for Northern Ireland
14th August 1991