5(1)This paragraph applies to—U.K.
(a)a fund (whether described as a welfare fund, benevolent fund, mutual aid fund or otherwise) whose objects consist in, or include, the provision of benefits in case of need, sickness or distress for Post Office beneficiaries, and
(b)a society or organisation (however described) whose objects are similar.
(2)In sub-paragraph (1) “Post Office beneficiaries” means any or all of the following persons—
(a)persons who are, or have been, engaged in the business of the Post Office,
(b)the relatives or dependants of such persons.
(3)The provisions of the trust deed, rules, regulations or other instrument constituting or regulating a fund, society or organisation to which this paragraph applies may, by resolution of the managers of the fund, society or organisation, be altered as mentioned in sub-paragraph (4).
(4)The provisions may be altered so as—
(a)to permit persons who are, or have been, engaged in the business of the Post Office company, or such persons of a particular description, to become members of, or subscribers to, the fund, society or organisation,
(b)to entitle such persons, or such persons of a particular description, and persons claiming in right of them, to receive benefits from the fund, society or organisation (subject to any terms and conditions specified in the resolution) if, and to the extent that, they would be entitled to receive benefits from it if being engaged in the business of the Post Office company were being engaged in the business of the Post Office.
(5)No alteration may be made that alters the character of the fund, society or organisation.
(6)If a resolution of the managers of a fund, society or organisation to which this paragraph applies so provides—
(a)any references in the trust deed, rules, regulations or other instrument constituting or regulating the fund, society or organisation to the Post Office shall be construed as references (or, if the context so requires, as including references) to the Post Office company, and
(b)any references in that instrument to persons engaged in the business of the Post Office or persons of a particular description so engaged shall be construed as references (or, if the context so requires, as including references) to persons engaged in the business of the Post Office company or (as the case may be) persons of a corresponding description so engaged.
(7)In this paragraph “managers” in relation to a fund, society or organisation, means the trustees, committee or other persons entrusted with its management.