(1) The purposes of an incorporated friendly society shall be those provided for by the society's memorandum.
(2) The purposes for which an incorporated friendly society may exist are -
(a) the carrying on, subject to section 5(2)(b) above, of -
(i) any business of any description falling within a class specified in Head A or B or within Head C of Schedule 2 to this Act, or
(ii) any activity falling within Head D of that Schedule; and
(b) the carrying on, in addition to any business or activity falling within paragraph (a) above, of any of the following, namely -
(i) social or benevolent activities in accordance with section 10 below;
(ii) group insurance business in accordance with section 11 below;
(iii) reinsurance, in accordance with section 12 below, of risks insured by other friendly societies;
(iv) control or joint control of bodies corporate in accordance with section 13 below;
and the memorandum of an incorporated friendly society may also confer on the society power to do any
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