Friendly Societies Bill
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Friendly Societies Bill Report on the consolidation of the Friendly Societies Acts 1896 to 1971 and certain other enactments relating to the societies to which those acts apply (Law Com. ; no. 59) by

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Published by H.M.S.O .
Written in English

Book details:

The Physical Object
Number of Pages7
ID Numbers
Open LibraryOL7320526M
ISBN 10010156340X
ISBN 109780101563406

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My Lords, this is a small Bill to enable the friendly societies to enlarge their scope and, at the same time, to put right certain anomalies in the existing law. The friendly societies were a product largely of the Victorian era: men came together to secure protection by mutual aid against calamities which might happen to them through sickness, death or other disaster. The Bill therefore provides for societies to incorporate as a new category of friendly society, and to form and acquire subsidiaries. Although there will be no obligation—either legislative or otherwise—for existing friendly societies to incorporate, incorporation does offer advantages. FrIendly Societies BIll EXPLANATORY MEMORANDUM Clause I sets out the purposes of the Act. Clause 2 provides for the commencement of the Act. Clause 3 sets out definitions of words and expressions used in the Act and exempts friendly societies from the Companies (Victoria) Code. Clause 4 sets out the objects of friendly societies. FRIENDLY SOCIETIES 5 Acla lOf% 29 Of M.7, %Of scb.‘97‘ THE FRIENDLY SOCIETIES ACT [fsr November, 1. This Act may be cited as the Friendly Societies Act. ~bontitlr ) In this Act, unless the context otherwise requires- tFz* “amendment of rule” includes a new rule and a “bank” means- resolution rescinding a ruIe, (a) the Workers Savings and Loan Bank; andFile Size: 1MB.

A Bill to update outdated legislation that governs friendly societies and credit unions passed its third reading today unanimously, Kaikōura MP Stuart Smith says. Friendly societies registered under the Friendly Societies Act are incorporated entities and are registered for effecting and carrying out contracts of insurance. Some friendly societies carry out unregulated activity – such as running a working men’s club, or providing discretionary benefits. The Registrar of Friendly Societies is responsible for the assessment and registration of applications and any subsequent amendment of rules which societies are obliged to render to the Registrar, and to ensure that registered societies meet their statutory obligations with regard to filing returns, which once registered, are made available for inspection by the public. A friendly society (sometimes called a mutual society, benevolent society, fraternal organization or ROSCA) is a mutual association for the purposes of insurance, pensions, savings or cooperative is a mutual organization or benefit society composed of a body of people who join together for a common financial or social purpose. Before modern insurance and the welfare state, friendly.

LAWS OF GUYANA Friendly Societies Cap. 11 L.R.O. 3/ friendly societies, and from time to time publish, either generally or in particular districts, any particulars of their returns and valuations, and any other information useful to the members of or to persons interested in friendly or otherFile Size: KB. Friendly societies in Britain. Among the oldest was the Incorporation of Carters, founded in at Leith in Scotland, but it was not until the eighteenth century that the number of societies expanded rapidly. Various forms of friendly societies have existed since ancient China, Greece, and Rome. In Britain, they arose out of the guild system. The Friendly Societies Act, (Act No. 25 of ) has been amended by Friendly Societies Amendment Act, (Act No. 67 of ) The Friendly Societies Act, (Act No. 25 of ) has been amended by Friendly Societies Amendment Act, (Act No. 60 of ). Purposes of friendly societies defined. Rules to be submitted for approval to the Minister. Provision as to members desirous of withdrawing. Periodical returns of assets and disbursements to be made to the Registrar General by all friendly societies. President and treasurer to be the officers to transmit returns of assets, etc. File Size: KB.