Glossary

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Term Definition Legal instruments

mutual

01/10/2015

means an insurer which:

(1) if it is a body corporate has no share capital (except a wholly owned subsidiary with no share capital but limited by guarantee); or

(2) is a friendly society; or

(3) is a society registered or deemed to be registered under Co-operative and Community Benefit Societies Act 2014 or the Industrial and Provident Societies (Northern Ireland) Act 1969.