
1 
This Order may be cited as the Friendly Societies (Activities of a Subsidiary) Order 1998 and shall come into force on the 19th October 1998.
2 
Schedule 7 to the Friendly Societies Act 1992 (which lists the activities which may be carried on by a subsidiary of, or a body jointly controlled by, an incorporated friendly society) is amended by inserting after paragraph 1 the following paragraph–“
1A 
The establishment and management, or arranging for the establishment and management, of individual savings accounts; and in this paragraph “individual savings accounts” means plans of a kind referred to in section 333(1A) of the Income and Corporation Taxes Act 1988.”
In witness whereof the common seal of the Friendly Societies Commission is hereto fixed, and is authenticated by me, a person authorised under paragraph 13 of Schedule 1 to the Friendly Societies Act 1992, on 21st September 1998.
B.F. D'Silva
We consent to this Order.
Clive Betts
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
25th September 1998