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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 117

Effect of cancellation or suspension of registration.

117.(1) The provisions of this section shall have effect where shares in a
building society are held by two or more persons jointly; and in this section
"senior joint holder", in relation to any shares so held, means that one of
the joint holders who is named first in the books of the society.

(2) Except where the rules of the society otherwise provide, any notice or
other document may be given or sent by the society to the joint holders by
being given or sent to the senior joint holder, but this subsection shall not
prevent any of the joint holders from exercising the right under this Act of a
member of a building society to obtain from the society on demand a copy of
the balance sheet or of the annual return.

(3) For the purpose

(a)of determining who is qualified to vote, whether in person or by proxy, on
a resolution at a meeting of the society; and

(b)of determining (where relevant) the number of votes any person may then
give;

(4) For the purposes of sections 18, 19, 100 and 124, the shares shall be
treated as held by the senior joint holder alone; and accordingly a person who
is a member of the society by reason only of being a joint holder of those
shares (other than the senior joint holder) shall not be regarded as a member
of the society for the purposes of those sections.

(5) The senior joint holder (but none of the other joint holders) shall have
the right to join in making an application under section 101 or 111, and any
reference in those sections to the total membership of a building society
shall be construed accordingly.

(6) In the register to be maintained under section 62, it shall not be
necessary to enter the name and address of a person who is one of the joint
holders (other than the senior joint holder) by reason only that he is a joint
holder of those shares; and if his name and address are entered in the
register in respect of those shares, the entry shall indicate that he is a
joint holder who is not the senior joint holder.

(7) The joint holders shall be entitled to choose the order in which they are
named in the books of the society.


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© 1967 Crown Copyright

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