The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

1.1.A.215 Approved friendly society

Usage

This definition applies to all payments.

Definition

Friendly society means one of the following:

  • a body that is a friendly society for the purposes of the Life Insurance Act 1995
  • a body that is registered or incorporated as a friendly society under a law of a State or Territory
  • a body that is permitted, by a law of a State or Territory, to assume or use the expression friendly society
  • a body that, immediately before the date that is the transfer date for the purposes of the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999, was registered or incorporated as a friendly society under a law of a State or Territory, or
  • a body that had, before 13 December 1987, been approved for the purpose of the definition of friendly society in subsection 115(1) of the Social Security Act 1947.

Approval of friendly societies

The Secretary may determine that:

  • a friendly society, or
  • a person or body that, in the Secretary's opinion
    • is similar in character to a friendly society, and
    • provides benefits similar to the benefits provided by a friendly society

is an approved friendly society for the purposes of the SSAct.

Act reference: SSAct section 9-'friendly society', section 29 Approval of friendly societies

Last reviewed: