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9In section 11 (special provision for future benefits under long term policies) after subsection (3) there shall be inserted the following subsection—
“(3A)This section applies to a long term policy of a closing society as it applies to a long term policy of a company in liquidation but—
(a)with the addition at the end of subsection (3) above of the words “subject to the giving up of any right to a payment on dissolution of the society”; and
(b)in subsection (5) below, with the insertion after the words “insurance company” of the words “or friendly society”.”
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