(1) If it appears to the Commission -
(a) that there has been or is, on the part of a friendly society or its committee of management, a failure to satisfy any one or more of the following criteria of prudent management; or
(b) that the society's officers do not have the capacity and intention to conduct its affairs so as to satisfy those criteria,
it shall be entitled to assume for the purposes of its relevant prudential powers that it is expedient to exercise the powers in order to protect the interests of members of the society.
(2) The prudential powers relevant for the purposes of this section are its powers -
(a) under section 34 above to impose conditions on a society's authorisation;
(b) under section 40 above to give a direction by virtue of subsection (3)(c);
(c) under section 51 below to make an order forbidding the acceptance of new members;
(d) under section 53 below, to give a direction;
(e) under section 90 below, to order a transfer of the society's engagements.