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Friendly Societies Act 1974

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This is the original version (as it was originally enacted).

11(1)For the avoidance of doubt it is hereby declared that nothing in paragraph 3 above requires the rules of a society to contain tables in accordance with which obligations to provide benefits to members have been undertaken or policies of assurance have been issued by the society, if the rules of -the society provide that no further obligations may be undertaken or (as the case may be) no further policies may be issued in accordance with any such tables.

(2)Subject to sub-paragraph (1) above and sub-paragraph (3) below, the tables which the rules of a registered society are required to contain by virtue of paragraph 3 above and any tables contained in the rules of a branch shall, in the case of a society or branch which proposes to carry on long-term business within the meaning of the Insurance Companies Act 1974, be tables which, in so far as they relate to that business, have been certified by a qualified actuary.

(3)Sub-paragraph (2) above does not apply—

(a)to a society first registered before 26th July 1968, nor

(b)to a branch of such a society, nor

(c)to a society formed by the amalgamation of two or more such societies.

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