Friendly Societies and Credit Unions (Maximum Gross Sum) Order 2008 (SR 2008/353)

Regulation by clause

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order, which comes into force on the 28th day after the date of its notification in the Gazette, increases from $60,000 a year to $100,000 a year the maximum gross sum for contracts of insurance that a member of a society registered under Part 2 of the Friendly Societies and Credit Unions Act 1982, or a person claiming through that member, is permitted to receive from the society, a branch, or the society including its branches taken together.