Section 24 Trustees of registered societies and branches.F1
United Kingdom
Every registered society and branch shall have one or more trustees.
The trustees may be appointed—
by a resolution of the society or branch in general meeting; or
in such other manner as the rules of the society or branch may provide.
If a trustee is appointed under subsection (2)(a) above, the society or branch shall send to the F2FCA a copy of the resolution appointing him, signed by the trustee so appointed and by the secretary of the society or branch.
If a trustee is appointed under subsection (2)(b) above, the society or branch shall send to the FCA—
notice of his appointment signed by the secretary of the society or branch; and
an acceptance of office signed by the trustee so appointed.
In the case of the appointment of a trustee of a branch, any document referred to in subsection (3) or (4) above shall be sent to the FCA through an officer appointed in that behalf by the society of which the branch forms part.
The same person may not be a secretary or treasurer of a registered society or branch and also a trustee of that society or branch.
Annotations
Textual amendments
- F1
S. 24 substituted (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 95, Sch. 16 para. 9 (with ss. 7(5) and 93(4)); S.I. 1993/2213, art. 2 Sch. 6.
- F2
Words in s. 24 substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 5 para. 2(1)(a)(2)(g) (with Sch. 12)