Consultation launched on reform of friendly societies law

According to the independent body, current law governing friendly societies is "fragmented, outdated and in need of modernisation", with the last major update was in this area being in 1992. Friendly society law "has not kept pace" with developments in related areas such as company law and financial services regulation, the commission added. As such, the consultation focuses on questions such as: Whether and how the challenges associated with allowing friendly societies to raise capital in new ways could be addressed. Whether it would be appropriate to remove some of the restri...