Interpretation2.

In these Regulations—

“directive society” means a friendly society to which section 37(2) of the Friendly Societies Act 19922 applies;

“non-directive society” means a friendly society other than a directive society; “section 37(3) society” means a non-directive society which—

(a)

falls within subsection (3) of section 37 of the Friendly Societies Act 1992, and

(b)

is a friendly society to which subsection (8) of that section3 applies;

“the Taxes Act” means the Income and Corporation Taxes Act 1988.