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Application provision

1.1 Unless otherwise stated, this Part applies to a non-directive friendly society.



A value must be ascribed to assets of each description which must be an amount determined in accordance with this Part or, where the assets are of a description for the valuation of which no provision is made in those rules, an amount which would reasonably be paid by way of consideration for an immediate assignment or transfer of such assets. The amount by which the firm is exposed to assets of each description must be determined by adjusting the value of the assets in accordance with 19 to 23.