Article 1(2)

1. The specified income for a society for the purposes of article 1 is the amount determined in accordance with paragraphs 2 to 8 below.

2. In respect of a friendly society which, for the relevant year, was 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 in 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)"; and

(b) in form D ("MANAGEMENT FUNDS"), the entry at line 1 for "Contributions for management".

3. In respect of a friendly society which, for the relevant year, was required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.1, Form A.R.1A or Form A.R.1C, the value of the specified income for that relevant year is the sum of the amounts required to be entered at the following entries in Form A.R.1, Form A.R.1A and Form A.R.1C respectively: