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Friendly Societies Act 1992
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47(1)Article 93 (distribution of property) of the Order does not apply; and the following applies in its place.
(2)Subject to the provisions of Part V 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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