(1)In this Act “associate", in relation to any person entitled to exercise or control the exercise of voting power in relation to a friendly society to which section 37(2) or (3) above applies, means–
(a)the wife or husband or minor son or daughter of that person;
(b)any company of which that person is a director;
(c)any person who is an employee or partner of that person;
(d)if that person is a company–
(i)any director of that company;
(ii)any subsidiary undertaking of that company;
(iii)any director or employee of any such subsidiary under– taking; and
(e)if that person has made an agreement or arrangement with any other person under which they undertake to act together in exercising their voting power in relation to the society, that other person.
(2)In this section–
“minor", in relation to Scotland, means not having attained the age of sixteen;
“son" includes stepson and “daughter" includes stepdaughter;
“subsidiary undertaking" has the same meaning as in the Insurance Companies Act 1982 M1.]