117 Insurance business etc
Friendly Societies Act 1992 (1992 c 40) | Legislation

117  Insurance business etc

(1)     For the purposes of this Act—

“annual contribution income” means, in relation to a friendly society's long term business, the income of the society in a financial year without any deduction for reinsurance cessions;

[“commitment” means, in relation to a friendly society to which section 37(2) applies, a commitment represented by insurance business of any class of Head A of Schedule 2 to this Act;]

“insurance business” means long-term business and general business but[, except for the purposes of sections 87 and 88 above,] does not include the operations

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