65. (1) In this Part “provident society” means, a person who, or a body of persons (whether corporate or un-incorporate) which, not being an insurer registered for the time being under Part II of this Act, carries on the business of insuring the payment, on the happening of any of the contingencies mentioned in sub-section (2), of- (a) an annuity of or equivalent to one hundred Taka or less, payable for an uncertain period, or (b) a gross sum of nine hundred Taka or less, whether paid or payable in a lump sum or in two or more instalments over a certain period, exclusively in both cases (a) and (b) of any profit or bonus not being a guaranteed profit or bonus. Explanation.- For the purposes of this sub-section a period is “certain” if its duration is ascertainable in advance and “uncertain” if its duration is not so ascertainable. (2) The contingencies referred to in sub-section (1) are the following, namely:- (a) the birth, marriage or death of any person or the survival by a person of a stated or implied age or contingency; (b) failure of issue; (c) the occurrence of a social, religious or other ceremonial occasion; (d) loss of or retirement from employment; (e) disablement in consequence of sickness or accident; (f) the necessity of providing for the education of a dependent; (g) any other contingency which may be prescribed or which may be authorised by the ¹[Government]. (3) For the purposes of sub-sections (1) and (2)- (a) contracts entered into before the commencement of this Act shall not be taken into account; (b) two or more policies issued to one person shall, for the purposes of determining whether the limits fixed by sub-section (1) have or have not been exceeded, be deemed to be one policy if the contingencies on the happening of which the sums are payable under the policies (whether the contingencies be the same or different) relate to one person only, whether he be the policy-holder or some other person. (4) Every person or body of persons for the time being registered as a provident society under the Provident Insurance Societies Act, 1912, and every person or body of persons for the time being registered as a provident society under this Act, shall be deemed to be a provident society for all the purposes of this Act. (5) If any question arises whether any person or body of persons is or is not a provident society within the meaning of this section, the Chief Controller of Insurance shall decide the question and his decision shall be final.