7(1)Section 74 (liability of members) of the Act is modified as follows.
(2)In subsection (1), the reference to any past member shall be omitted.
(3)Paragraphs (a) to (d) of subsection (2) shall be omitted; and so shall subsection (3).
(4)The extent of the liability of a member of an incorporated friendly society in a winding up shall not exceed the extent of his liability under paragraph 8 of Schedule 3 to this Act.