24 Continuation of long term business
Friendly Societies Act 1992 (1992 c 40) | Legislation

24  Continuation of long term business

(1)     This section has effect in relation to the winding up of an incorporated friendly society which carries on long term business (including any reinsurance business).

(2)     The liquidator shall, unless the court otherwise orders, carry on the long term business of the society with a view to its being transferred as a going concern under this Act; and, in carrying on that business, the liquidator may agree to the variation of any contracts of insurance in existence when the winding up order

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