Amendment of section 28.

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.... under section 26, any surplus emerges,- (a) for every financial year previous to the financial year for which the funds referred to in sub-section (2) of section 24 are to be maintained, and for any subsequent financial year for which members may exempt the maintenance of such funds,- (I) ninety per cent., or such higher percentage as the Board may approve, of such surplus shall be allocated ....

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.... remaining surplus as the Board may approve, shall be allocated to or reserved for members and may either be credited to a separate account maintained by the Corporation or be transferred to such reserve or reserves as the Board may specify; (ii) in respect of non-participating policy-holders, one hundred per cent. of surplus relating to such policy-holders shall be allocated to or reserved for ....