The Friendly Societies (Insurance Business) Regulations 1993

2.—(1) Where for the purpose of determining any supplementary amount in accordance with paragraph 1 above the society cannot reasonably ascertain—

(a) the value of any asset of a relevant dependant, or

(b) the amount of the permitted limit applicable in relation to any asset of a relevant dependant,

the asset in question shall be left out of account for that purpose.

(2) In this Part of this Schedule—

• “relevant dependant” means—

  (a)

  where this Schedule is being applied in relation to the determination of the value of a share in, or debt due or to become due from, a dependant of the society which is a long term business asset of the society, any dependant of the society—

  (i)

  a share in which, or in any body (whether incorporated or not) of which it is a jointly controlled body, is a long term business asset of the society, or

  (ii)

  from which a debt is due, or will become due, to the society which is a long term business asset of that society; and

  (b)

  in any other case, any dependant of the society—

  (i)

  a share in which, or in any body (whether incorporated or not) of which it is a jointly controlled body, is a general business asset of the society, or

  (ii)

  from which a debt is due, or will become due, to the society which is a general business asset of that society.