Regulatory Alerts2017-04-07
Friendly Societies – Act 25 of 1956
The regulatory authority has issued the Friendly Societies Act 25 of 1956 to require formal registration, define governance structures, and establish operational standards for member-based organizations. The legislation outlines compliance procedures, financial reporting obligations, and dispute resolution mechanisms for these societies. The October 2024 revision modernizes regulatory oversight while preserving the act's core provisions for existing and newly formed entities.
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