Friendly Society - Reporting FSC2 Return

Application provision

1.1 This Part applies to every firm that is a non-directive friendly society other than:

  1. (1) a flat rate benefits business friendly society; and
  2. (2) a partnership pension society.

3.1

01/07/2016

A FSC2 return must include:

  1. (1) Forms FSC2, 9, 9A, 9B and 9C; and
  2. (2) a statement that the firm consents to the FSC2 return being placed on its public file.

3.2

01/07/2016

Form 9A must provide a synopsis of the report by the appropriate actuary into the investigation into the financial condition of the firm in respect of its insurance business, including the statements and detail set out in that Form.

3.3

01/07/2016

Form 9B must be signed by the appropriate actuary in the terms required.

3.4

01/07/2016

Form 9C must be signed by the chief executive, the secretary and one committee member of the firm (or two members of the committee if the offices of chief executive and secretary are held by the same person).

3.5

01/07/2016

The friendly society's register number is to be entered on every page in the relevant box. Boxes marked ‘period ended 31 December’ must be completed so as to show, in numerals, the date of the last day of the period to which the FSC2 return relates.

3.6

01/07/2016

Every Form submitted under the rules in this chapter must fairly state the information provided in it on the basis required by the rules.

3.7

01/07/2016

Unless the context otherwise requires, the value or amount given for an asset or a liability of the friendly society included in any Form must be the value or amount of that asset or liability determined in accordance with Friendly Society – Asset Valuation and Friendly Society – Liability Valuation.

3.8

01/07/2016

Some Forms permit amounts to be entered in £000 but advantage may be taken of this only if none of the entries in the relevant Form are less than £500. All entries in a Form must be in the same monetary units. Negative amounts must be shown between round brackets.