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Amendments Of Friendly Societies Act (Northern Ireland) 1970

Volume 895: debated on Thursday 17 July 1975

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5. The Friendly Societies Act (Northern Ireland) 1970 shall be amended in accordance with the following provisons of this Part of this Schedule.

6. For subsection (3) of section 1 (societies which may be registered), make the same substitution as is provided for in paragraph 2 above, but with the omission of the words "below" and "above".

7. In section 1, at the end make the same addition as is provided for in paragraph 3 above, but with the substitution of the words "section 55" for the words "section 64 below" in both places where they occur, and the omission of the word "above" in both places where it occurs.

8. In section 55(1) (maximum benefits), for the references to £500 and £104 in paragraphs ( a) and ( b) substitute references to £1,000 and £208 respectively.

9. In section 55(2), after "gross sum or annuity" insert ",any approved annuities as defined in section 226(13) of the Income and Corporation Taxes Act 1970".

10. For section 55(91( a) substitute—

"(a) 'life or endowment business' has the meaning assigned to it by subsection (2) of section 337 of the Income and Corporation Taxes Act 1970".'—[Mr. Robert Sheldon.]

Brought up, and read the First and Second time and added to the Bill.