(1) Subject to subsection (3) below, the terms of -
(a) an amalgamation under section 85 above,
(b) a transfer of engagements of a friendly society under section 86 above, or
(c) a conversion under section 91 above,
may include provision for compensation for loss of office or diminution of emoluments attributable to the amalgamation, transfer or conversion to be paid by a participating friendly society to or in respect of any of the persons mentioned in subsection (2) below.
(2) Those persons are -
(a) the officers of the society which is to pay the compensation;
(b) in the case of an amalgamation or transfer, the officers of any other participating society;
(c) in the case of a transfer, the officers of any other person participating in the transfer; and
(d) the appointed actuary (if any) of any society participating in the amalgamation or transfer.
(3) Any such provision as is mentioned in subsection (1) above must be approved by the society which is to pay the compensation by a spec
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