277(1)Except as otherwise provided in this Act or the regulations, the provisions of this Part apply to all fraternal societies duly licensed and carrying on the business of life insurance in the Province, and to clubs, societies or associations, incorporated or unincorporated, that receive, either as trustees or otherwise, contributions or money from its members out of which gratuities or benefits are paid, directly or indirectly, on the death of any of its members.

277(2)The Lieutenant-Governor in Council may make regulations and the Financial and Consumer Services Commission may make rules restricting, qualifying or prescribing exceptions to the application of subsection (1).