14 Investment of funds
Friendly Societies Act 1992 (1992 c 40) | Legislation

Powers of incorporated friendly societies

14  Investment of funds

(1)     An incorporated friendly society may invest its funds—

(a)     in the purchase of land, or in the erection of offices or other buildings thereon;

(b)     upon any other security expressly directed by the rules of the society, other than personal security (but without prejudice to any provision of this Act relating to loans); or

(c)     in any other investment of a kind which trustees are for the time being by law authorised to make.

(2)     An incorporated friendly society which falls within subsection (3) . . .

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