Sch 18 para 21
After paragraph 40 there shall be inserted the following paragraph— (40A) (1) In the case of an application for authorisation under section 26 of this Act made by an incorporated friendly society section 27(3) shall have effect as if the following paragraph were substituted for paragraph (a)— (") to any member of the committee of management or any director or controller of a subsidiary of the society or of a body jointly controlled by the society." (2) Where the other person mentioned in paragraph (b) of the definition of “ connected person ” in section 105(9) of this Act is an incorporated friendly society that paragraph shall have effect with the substitution for the words from “director" onwards of the words “member of the committee of management of the society or any director, secretary or controller of a subsidiary of the society or a body jointly controlled by the society."