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Co-operative and Community Benefit Societies Act (Northern Ireland) 1969

1969 c. 24 (N.I.) · Enacted 25 November 1969 · Extends to Northern Ireland

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s. 38A(6)words substitutedCharities Act (Northern Ireland) 2008 Sch. 8 para. 2

An Act to consolidate with amendments the provisions of certain enactments relating to industrial and provident societies and to apply those provisions with modifications to credit unions.

[25th November 1969]C1C2C3C4C5C6

Annotations to the whole text

Textual amendments

F1

Act: "The Industrial and Provident Societies (N.I.) Act 1969 may be cited as The Co-operative and Community Benefit Societies Act (N.I.) 1969" (6.4.2018) by virtue of Credit Unions and Co-operative and Community Benefit Societies Act (NorthernIreland) 2016 (c. 16), ss. 8(2), 17(2) (with Sch. 2 paras. 2, 3); S.R. 2017/217, art. 2(b)

F2

1981 NI 3

Modifications

C1

Act: power to modify conferred (1.7.2006) by Industrial and Provident Societies (Northern Ireland) Order 2006 (S.I. 2006/314 (N.I. 3)), arts. 1(3), 10; S.R. 2006/242, art. 2

C2

Act: applied (with modifications) by Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations (Northern Ireland) 1994 (S.R. 1994/429), Sch. (as amended (1.10.2006) by S.R. 2006/353, reg. 3)

C3

Act: power to amend conferred (20.1.2007 for certain purposes, otherwise 1.10.2009) by Companies Act 2006 (c. 46), ss. 1101(1), 1300(2); S.I. 2006/3428, art. 3(3); S.I. 2008/2860, art. 3(r) (with art. 8, Sch. 2)

C4

Act: modified (6.4.2008) by Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008 (S.I. 2008/565), reg. 14(2), Sch. 2 (as amended (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 20(4)(d)(g)(h); as further amended (with effect in accordance with reg. 2(4) of the amending S.I.) by The Statutory Auditors Regulations 2017 (S.I. 2017/1164), Sch. 2 para. 16 (with reg. 2(6)(7)))

C5

Act: power to amend conferred (17.2.2009 for certain purposes otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 159, 167, 263(1) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 3

C6

Act: power to amend conferred (24.1.2013) by Financial Services Act 2012 (c. 21), ss. 50(2)(d), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(a), Sch. Pt. 1

Contents

  1. Part I: SOCIETIES WHICH MAY BE REGISTERED
  2. 1Societies which may be registered.
  3. 1AMeaning of “registered society”
  4. Part II: REGISTERED SOCIETIES
  5. Chapter: Registration of Societies
  6. 2Registration of society.
  7. 3Registration to effect incorporation of society with limited liability.
  8. 4Existing societies deemed to be registered.
  9. Chapter: Name and maximum shareholding
  10. 5Name of society.
  11. 6Maximum shareholding in society.
  12. Chapter: Operations of registered society
  13. 7Carrying on of banking by societies.
  14. Capacity of society and power of committee to bind it
  15. 7ACapacity of society not limited by its rules
  16. 7BPower of committee to bind society
  17. 7CNo duty to enquire as to capacity of society or authority of committee
  18. 7DTransactions with committee members and other persons in excess of powers
  19. 7EDefinitions relating to section 7D
  20. Chapter: Provisions as to rules
  21. 8Acknowledgment of registration of rules.
  22. 9Amendment of registered rules.
  23. 10Rules as to fund for purchase of government securities.
  24. 11Rules of agricultural, horticultural or forestry society.
  25. 12Supplementary provisions as to rules.
  26. 13Rules to bind members.
  27. 14Provision of copies of rules.
  28. Chapter: Cancellation, suspension or refusal of registration of society or rules
  29. 15Cancellation of registration of society.
  30. 16Suspension of registration of society.
  31. 17Appeal from refusal, cancellation or suspension of registration of society or rules.
  32. Chapter: Membership and special provisions affecting members
  33. 18Bodies corporate as members of society.
  34. 19Members under age of 18
  35. 20Advances to members.
  36. 21Remedy for debts from members.
  37. 22Nomination to property in society.
  38. 23Proceedings on death of nominator.
  39. 24Provision for small payments on death.
  40. 25Payments in respect of mentally incapable persons.
  41. 26Validity of payment to persons apparently entitled.
  42. Chapter: Contracts, property, etc., of society
  43. 27Promissory notes and bills of exchange.
  44. 28Contracts.
  45. 28APurported contracts, deeds and obligations
  46. 28BCommon seal
  47. 28CExecution of documents
  48. 28DPower of society to have official seal for use abroad
  49. 28EEffect of use of official seal
  50. 28FAuthorisation of use of official seal
  51. 29Charges on assets of registered societies.
  52. 30Holding of land.
  53. 31Investments.
  54. 32Proxy voting by societies.
  55. 33Discharge of mortgages.
  56. 34Receipt on payment of moneys secured to a society.
  57. Chapter: Accounts, etc.
  58. 35Books of account, etc.
  59. 36Form in which books of account may be kept.
  60. 36AYear of account (existing societies)
  61. 36BYear of account (new registrations)
  62. 37General provisions as to accounts and balance sheets of registered societies.
  63. 37APublication of accounts and balance sheets of registered societies.
  64. 38Obligation to appoint auditors.
  65. 38APower of registered societies to disapply section 38.
  66. 39Re-appointment and removal of qualified auditors.
  67. 40Provisions as to resolutions relating to appointment and removal of auditors.
  68. 41Meaning of qualified auditor
  69. 42Restrictions on appointment of auditors.
  70. 43Auditors' report and right of access to books and to attend and be heard at meetings.
  71. 43ADuty to obtain accountant's reports where section 38 applied.
  72. 43BRights of person appointed under section 43A(2).
  73. 43CRegistrar's power to require accounts for past years to be audited.
  74. 44Remuneration of qualified auditors.
  75. 45Group accounts.
  76. 46Exemption from requirements in respect of group accounts.
  77. 47Meaning of “subsidiary” .
  78. 48Annual returns.
  79. 49Display of latest balance sheet.
  80. Chapter: Officers, receivers, etc.
  81. 50Security by officers.
  82. 51Duty of officers of society to account.
  83. 52Duties of receiver or manager of society's property.
  84. Chapter: Registers, books, etc.
  85. 53Register of members and officers.
  86. 54Restriction on inspection of books.
  87. 55Inspection of books by members, etc.
  88. 56Inspection of books by order of registrar.
  89. 57Production of documents and provision of information for certain purposes.
  90. 58Appointment of inspectors and calling of special meetings.
  91. Chapter: Amalgamations, transfers of engagements and conversions
  92. 59Amalgamation of societies.
  93. 60Transfer of engagements between societies.
  94. 61Conversion into, or transfer of engagements to, company.
  95. 62Conversion of company into registered society.
  96. 63Saving for rights of creditors.
  97. Chapter: Dissolution of society
  98. 64Dissolution of registered society on winding up .
  99. 65Power of registrar to petition for winding-up.
  100. 66Liability of members in winding-up.
  101. 66ADissolution of a society by an instrument of dissolution
  102. 67Instrument of dissolution.
  103. Chapter: Special restriction on dissolution, etc.
  104. 68Restriction on dissolution or cancellation or registration of society.
  105. Chapter: Disputes, offences and legal proceedings
  106. 69Decision of disputes.
  107. 70General offences by societies, etc.
  108. 71Offences by societies to be also offences by officers, etc.
  109. 72Continuing offences.
  110. 73Punishment of fraud or misappropriation.
  111. 74Penalty for falsification.
  112. 75Institution of proceedings.
  113. 76Recovery of costs, etc.
  114. 77Application of Part II to credit unions. Repealed
  115. Part
  116. Part IV: MISCELLANEOUS AND GENERAL
  117. 97Regulations.
  118. 98Form, deposit and evidence of documents.
  119. 98AForm etc of electronic documents
  120. 98BPower of registrar to impose requirements as to form etc of electronic documents
  121. 98CFees for inspection and copying of documents
  122. 99Exercise of functions of registrar. Repealed
  123. 100Annual reports by registrar. Repealed
  124. 101Interpretation.
  125. 102Great Britain societies.
  126. 103Repeals, savings and transitional provisions.
  127. 104Short title and commencement.
  128. Schedule 1: MATTERS TO BE PROVIDED FOR IN SOCIETY'S RULES
  129. Part I: INDUSTRIAL AND PROVIDENT SOCIETIES. . .
  130. 1Paragraph 1
  131. 2Paragraph 2
  132. 3Paragraph 3
  133. 4Paragraph 4
  134. 5Paragraph 5
  135. 6Paragraph 6
  136. 7Paragraph 7
  137. 8Paragraph 8
  138. 9Paragraph 9
  139. 10Paragraph 10
  140. 11Paragraph 11
  141. 12Paragraph 12
  142. 13Paragraph 13
  143. 14Paragraph 14
  144. Schedule 2: FORM OF STATEMENT BY SOCIETY CARRYING ON BANKING
  145. 1Paragraph 1
  146. 2Paragraph 2
  147. 3Paragraph 3
  148. Schedule 3FORM OF RECEIPT ON MORTGAGE, ETC.
  149. Paragraph
  150. Schedule 4: FORMS OF BOND FOR OFFICERS OF SOCIETY
  151. FORM APart FORM A
  152. FORM BPart FORM B
  153. Paragraph
  154. Schedule 5: TRANSITIONAL PROVISIONS Repealed
  155. 1Paragraph 1 Repealed
  156. 2Paragraph 2 Repealed
  157. 3Paragraph 3 Repealed
  158. 4Paragraph 4 Repealed
  159. 5Paragraph 5 Repealed
  160. Schedule Schedule