84Friendly societies

84 Friendly societies (1) Land is exempt land if it is owned by, or held in trust for, a friendly society. (2) Despite subsection (1), land or a part of land referred to in that subsection is not exempt land if the land or part is— (a) used for banking or insurance purposes; or (b) leased or occupied for any other business purposes by a person or body other than— (i) a friendly society; or S. 84(2)(b)(ii) substituted by No. 67/2017 s. 25. (ii) a person or body referred to in section 72(1) that satisfies the requirements of section 72(2); or S. 84(2)(b)(iii) inserted by No. 67/2017 s. 25. (iii) a person or body referred to in section 80(1), 81(1) or 83(1). (3) Subsection (2) does not apply to land or part of land that is leased or occupied under or in accordance with an arrangement made with a municipal council for the purpose of promoting or assisting a decentralised industry.