156 Societies with no provision for assuring gross sums exceeding £2,000 etc
Finance Act 2012 (2012 c 14) | Legislation

156  Societies with no provision for assuring gross sums exceeding £2,000 etc

(1)     This section applies to a friendly society if its rules make no provision for it to carry on BLAGAB or eligible PHI business, or other long-term business, consisting of—

(a)     the assurance of gross sums exceeding £2,000, or

(b)     the granting of annuities of annual amounts exceeding £416.

(2)     The table in section 155 applies in relation to a friendly society to which this section applies as if, in the final row of that table—

(a)     the reference to £500

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