(1) Subject to the following provisions of this paragraph, a member of an incorporated friendly society who is not under the age of 16 years may by writing under his hand delivered at or sent to the registered office of the society, or made in a book kept at that office, nominate a person or persons to whom any sum of money payable by the society on the death of that member or any specified amount of money so payable, shall be paid at his decease.
(2) The total amount which may be nominated under this paragraph shall not exceed the relevant maximum, that is to say, £5,000 or such higher amount as, by virtue of an order under section 6 of the Administration of Estates (Small Payments) Act 1965 [1965 c. 32.], may for the time being apply for the purposes of the enactments specified in subsection (1) of that section.
(3) The sum payable on the death of a member by an incorporated friendly society shall include sums of money contributed to or deposited in the separate loan f
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