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Friendly Societies Act 1974

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This is the original version (as it was originally enacted).

65Modification of s. 64 in relation to group insurance business

(1)For the purposes of section 64 above, the limits in paragraphs (c) and (d) of subsection (1) of that section shall apply separately in relation to the amounts which may be received—

(a)by way of group insurance business; and

(b)by way of other business.

(2)For the purposes of this section " group insurance business " means the business of providing, in accordance with the rules of a registered society, benefits for or in respect of such employees of a particular employer or such other group of persons for the time being approved for the purposes of this section by the registrar as are members of the society ; and such business is approved group insurance business if—

(a)the policy of insurance or other contract under which the benefits are provided for or in respect of each of the employees or other persons concerned is in a form approved by the registrar, and

(b)such other requirements as may be prescribed by regulations made by the Chief Registrar are fulfilled.

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