Article 6 Specific exemptions in respect of friendly societies

This article provides exemptions from the obligations in sections 178 and 191D of the Act in relation to a person (“A”) who decides to acquire, increase, reduce or cease to have control over a relevant friendly society (“B”).

Where A decides to acquire or increase control over B, A is exempt from the obligation imposed by section 178.

Where A decides to reduce or cease to have control over B, A is exempt from the obligation imposed by section 191D.