Mutual Societies (Transfers) Order 2009

We, too, from these Benches, support the order. Perhaps the Minister will elaborate a little on various sections in the Explanatory Memorandum which gives the background to this. First, I am intrigued by paragraph 4.4, which states: "““Following consultation the Treasury does not intend to implement the Act for friendly societies””." I was going to ask why. However, I understood the Minister to say that under existing legislation the friendly societies could do what this order sets out for mutual societies. I should be grateful for his confirmation that I understood him correctly. Secondly, I should welcome a little elaboration about the requirement for urgent implementation of Section 3 of the Act, which of course was the justification for cutting down the consultation period from 12 to eight weeks. Is the Minister saying that this is a result of the current economic climate, or has something not been explained about the urgent implementation? Thirdly, why do the Government believe, in paragraph 8.5, that there is no need, "““to implement section 1 of the Act in the current economic circumstances””—" I am not sure what ““the current economic circumstances”” means— "““and will review … in two years time””?" Subject to those questions, I am happy to support the order.