(1) An incorporated friendly society may include among its purposes the carrying on of any group insurance business.
(2) In this Act "group insurance business" means business (carried on in accordance with the society's rules) which - (a) is of a description falling within Head A, or class 2 of Head B, of Schedule 2 to this Act; and (b) is carried on as the business of providing benefits, in pursuance of a contract with a qualifying person, for or in respect of the members of a group scheme.
(3) For the purposes of this section -
"group scheme" means a scheme or other arrangement under which benefits are to be provided for or in respect of persons who are members of the scheme and who qualify for membership by virtue of - (a) being employees of a particular employer, or (b) being members of some other group of persons of a description prescribed in regulations under subsection (7) below;
"qualifying person" means a person who has established or is otherwise responsibl
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