Point in time view as at 01/04/2013.
There are currently no known outstanding effects for the Friendly Societies Act 1992, Paragraph 16.
16(1)Section 107 (distribution of property) of the Act does not apply; and the following applies in its place.U.K.
(2)Subject to the provisions of Part IV relating to preferential payments, an incorporated friendly society’s property in a voluntary winding up shall be applied in satisfaction of the society’s liabilities to creditors pari passu and, subject to that application, in accordance with the rules of the society.
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