Friendly Societies Act 1974

Section 7(1).

SCHEDULE 1 E+W+S Purposes for which Friendly Societies may provide

The following are the purposes referred to in section 7(1)(a) of this Act, that is to say,—

(1)

the relief or maintenance of the members of the society, their husbands, wives, children (including step-children), fathers, mothers, brothers, sisters, nephews, nieces, or wards being orphans, during sickness or other infirmity, whether bodily or mental, or at any age after fifty or in widowhood, or for the relief or maintenance of the orphan children (including step-children) of members during minority or at any later time whilst they are receiving full-time education;

(2)

insuring money to be paid—

(a)

on the birth of a members’ child, or

(b)

on the death of a member, or

(c)

to a member on the death of the member’s husband or wife, or

(d)

to a member on the death of a parent (including a stepfather or stepmother) or grandparent of his in any case where, subject to the provisions of any Order in Council under section 7 of the M1 Industrial Assurance and Friendly Societies Act 1948 (which confers power to extend the application of this paragraph and of certain provisions of that Act originally limited to persons resident in Great Britain), the death in question is that of a person who, at the time of the proposal, is ordinarily resident in the United Kingdom or the Isle of Man, or

(e)

with respect to persons of the Jewish persuasion, during the period of confined mourning;

(3)

the relief or maintenance of the members of the society when out of employment, or when in distressed circumstances, or in the case of shipwreck, or in case of loss or damage of or to boats or nets;

(4)

the endowment of members of the society or nominees of members at any age or on marriage;

(5)

insuring money to be paid to a member of the society on the duration for a specified period of his life or the life of the husband or wife of the member, either with or without provision for the payment of money in the event or his or her death before the expiry of that period;

(6)

insuring against fire, to any amount not exceeding £15, the tools or implements of the trade or calling of the members of the society; or

(7)

guaranteeing the performance of their duties by officers and servants of the society or any branch thereof.

Marginal Citations

M1 1948 c. 39.