(1) Subject to the following provisions of this section, the Commission may by notice direct -
(a) that a friendly society authorised to carry on insurance business shall, from a date specified in the direction, cease to be authorised to effect contracts of insurance, or contracts of a class (or part of a class) so specified; or
(b) that a friendly society authorised to carry on non-insurance business shall, from a date specified in the direction, cease to be authorised to effect contracts for non-insurance benefits, or contracts of a description so specified.
(2) The Commission shall give such a direction in relation to a friendly society if -
(a) in the case of an incorporated society, a special resolution has been passed for its voluntary winding up;
(b) an order to wind up the society has been made;
(c) an event declared by the rules of the society to be the termination of the society has happened;
(d) an instrument of dissolution has been executed as mentioned in section 93(1