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Interpretation

3.  In the Corporation Tax Acts, in their application to a friendly society—

“insurance business transfer scheme” means a scheme which effects—

(a)

the transfer of the whole or part of the business of a friendly society to another friendly society;

(b)

the amalgamation of two or more friendly societies;

(c)

the transfer of the whole or part of the business of a friendly society to a company which is not a friendly society;

(d)

the conversion of a friendly society into a company which is not a friendly society; or

(e)

the transfer of the whole or part of the long-term business of an insurance company to a friendly society.