SCHEDULES
SCHEDULE 18 Mutuals
Part II Friendly Societies: Subsidiaries and Controlled Bodies
Joint control by societies
12
In section 13(9), after paragraph (c) insert—
“(cc)
an incorporated friendly society also has joint control of a body corporate if—
(i)
a subsidiary of the society has joint control of the body corporate in a way mentioned in paragraph (c)(i), (ii) or (iii);
(ii)
a body corporate of which the society has joint control has joint control of the body corporate in such a way; or
(iii)
the body corporate is controlled in a way mentioned in paragraph (a)(i), (ii) or (iii) by a body corporate of which the society has joint control;”.