(1) For the purposes of this Act -
"annual contribution income" means, in relation to a friendly society's long term business, the income of the society in a financial year without any deduction for reinsurance cessions;
"commitment" means, in relation to a friendly society to which section 37(2) applies, a commitment represented by insurance business of any class of Head A of Schedule 2 to this Act;
"insurance business" means long term business and general business but, except for the purposes of sections 87 and 88 above, does not include the operations of a society whose benefits vary according to the resources available and which require each of its members to contribute on a flat-rate basis;
"direct insurance business" means insurance business other than reinsurance business;
"long term business" means insurance business of any of the classes specified in head A of Schedule 2 to this Act; and
"general business" means insurance business of any of the classes specified in head B
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