The Friendly Societies (Accounts and Related Provisions) Regulations 1994

Interpretation of provisions regarding committee members' emoluments

14.—(1) In paragraphs 4 to 13:

(a) references to services to an associated body of a society must be taken to refer to services to a body which was an associated body of the society at the time at which the services were rendered, or, in the case only of paragraph 8, immediately before the committee member lost his office as committee member;

(b) “pension” includes any superannuation allowance, superannuation gratuity or similar payment;

(c) “pension scheme” means a scheme for the provision of pensions in respect of services as committee member or otherwise which is maintained in whole or in part by means of contributions; and

(d) “contribution”, in relation to a pension scheme, means any payment (including an insurance premium) paid for the purposes of the scheme by or in respect of persons rendering services in respect of which pensions will or may become payable under the scheme except that it does not include any payment in respect of two or more persons if the amount paid in respect of each of them is not ascertainable.

(2) In paragraphs 9 and 10, references to a person being “connected” with a committee member, and to a committee member “associated with” a body corporate, must be construed in accordance with section 70 of the Building Societies Act 1986(1) (as applied to friendly societies by paragraph 9 of Schedule 11 to the Act).

(1)

1986 c. 53.