Paragraph 2 Specified income for the relevant year

In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form R/FS/AR1, the value of the specified income for that relevant year is the sum of the amounts required to be entered at the following entries of Form R/FS/AR1:

(a)

in form B (“BENEFIT AND BENEFIT RESERVE FUNDS”), the entry at line 1 for “Contributions (including the contribution deficiency recovered or recoverable in respect of Life Assurance Premium Relief)”;

(b)

in form D (“MANAGEMENT FUNDS”), the entry at line 1 for “Contributions for management”; and

(c)

in form E (“RENT AND INTEREST ACCOUNT”), the entries at:

(i)

line 1 for “Rents from land and buildings”; and

(ii)

line 7 for “Total interest on investment (2 to 6)”.