(1) This Part of this Act has effect -
(a) to enable societies to be established in accordance with this Act and to be registered and incorporated under it; and
(b) to enable friendly societies registered under the 1974 Act to be registered and incorporated under this Act.
(2) A society may be established under this Act if under its proposed memorandum -
(a) its purposes are to include the carrying on of one or more activities falling within Head A, B, C or D of Schedule 2 to this Act;
(b) any such activity -
(i) is to be carried on by the society with a view to the provision, for its members and such persons connected with its members as may be prescribed in its rules, of insurance or other benefits; and
(ii) is to be funded by voluntary subscriptions from members of the society, with or without donations; and
(c) any other purposes which it is to have are within the permitted capacity of incorporated friendly societies under this Act.
(3) A society established under this Act is incor
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