Finance (No. 2) Act 1992

19 (1) Schedule 15 (qualifying policies) shall be amended as follows.

(2) In paragraph 3(1), for “registered friendly society” there shall be substituted “friendly society”.

(3) In paragraph 3(2)(c), after “the friendly society” there shall be inserted “(or any successor of it)”.

(4) In paragraph 3(4)(c), after “the same friendly society” there shall be inserted “(or any predecessor of it)”.

(5) In paragraph 3, the following sub-paragraph shall be inserted after sub-paragraph (4)—

“(4A) For the purposes of sub-paragraphs (2) and (4) above—

(a) a friendly society formed on the amalgamation of two or more friendly societies is the successor of each of those societies (and each of those societies was a predecessor of the society so formed), and

(b) an incorporated friendly society that was a registered friendly society before its incorporation is the successor of the registered friendly society (and the registered friendly society was the predecessor of the incorporated friendly society).”

(6) For paragraph 4(3)(b)(i) there shall be substituted—

“(i) it was effected in the course of business within class VI of Head A or class I of Head B of Schedule 2 to the [1992 c. 40.] Friendly Societies Act 1992,”.

(7) In paragraph 6(1)—

(a) for “any friendly society” there shall be substituted “any registered friendly society (as defined in section 466)”, and

(b) for “a friendly society” there shall be substituted “such a society”.