BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967

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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 133

1954 c.33

133.(1) This Act may be cited as the Building Societies Act (Northern Ireland)
1967.

(2) Commencement

1.(1) The provisions of this Schedule shall have effect in accordance with
section 13(4) or in accordance with section 56(5), in relation to shares (in
this Schedule referred to as "the relevant shares") issued by a
building society (in this Schedule referred to as the relevant society") in
compliance with section 13(1) or in compliance with section 55, as the case
may be.

(2) In this Schedule "the relevant period"

(a)where the relevant shares are issued in compliance with section 13(1),
means the period of five years beginning with the date on which a certificate
is issued by the registrar to the relevant society under that section; and

(b)where the relevant shares are issued in compliance with section 55, means
the period of five years beginning with the date of the service on
the relevant society of a notice under that section.

2. Neither at the time when the relevant shares are issued, nor at any other
time before the end of the relevant period, shall the terms regarding rate of
interest, participation in profits, contribution to losses or rights on a
termination or dissolution be (either as a whole or separately) more
favourable for the relevant shares than for any other shares in
the relevant society.

3. Until the end of the relevant period the relevant society shall not give
effect to or recognise any transfer of the relevant shares by the person to
whom they were issued, and the terms attaching to those shares shall so
provide, but this paragraph shall not prevent the relevant society from giving
effect to any transmission of those shares by operation of law.

4. Until the end of the relevant period, and so long as the relevant society
is not terminated or dissolved, the society shall not repay the sum subscribed
for the relevant shares or any part of that sum, and the terms attaching to
those shares shall so provide.

5.(1) If at any time before the end of the relevant period there is a failure
to comply with the provisions of paragraphs 2 to 4 in relation to any of
the relevant shares, the registrar (subject to the following provisions of
this Schedule) may present a petition for the winding up of
the relevant society under the Companies Act (Northern Ireland) 1960.

(2) Not less than one month before presenting a petition for the winding up of
the relevant society under that Act, the registrar shall send to that society
notice of his decision, and may, if he thinks fit, afford to the society an
opportunity of submitting to him, as an alternative to the winding up of
the relevant society under that Act, proposals for

(a)dissolving the relevant society in one of the ways mentioned in sections 99
and 100; or

(b)uniting the relevant society under section 18 with another
building society, or transferring its engagements to another building society
under section 19 or to a society of Great Britain under section 124;

6.(1) Until the end of the relevant period the relevant society shall not,
without the consent of the registrar, unite with another building society
under section 18, or transfer its engagements to another building society
under section 19, unless the other building society (or, in the case of a
union with two or more societies, one of those societies) has been
incorporated for more than five years and has assets which exceed one hundred
thousand pounds in value.

(2) In giving his consent under sub-paragraph (1)

(a)to a union, where any of the holders of the relevant shares will beome
holders of shares in the building society formed on the union; or

(b)to a transfer of engagements, where any of the holders of
the relevant shares will become holders of shares in the building society to
which the engagements are transferred;

(3) If, at any time during the remainder of the relevant period, any
conditions attached by virtue of sub-paragraph (2) are broken, the registrar
may present a petition for the winding up under the Companies Act (Northern
Ireland) 1960, of the building society formed on the union, or of the
building society to which the engagements are transferred, as the case may be.

1. The requirements set out in the following provisions of this Schedule are
those which must be fulfilled, in accordance with section 14(3), where an
application is made by a building society under that section.

2.(1) The ascertained proportion for the last financial year of the society
ending before the date of the application must not have exceeded ten per cent.

(2) In this paragraph "the ascertained proportion" has the meaning assigned to
it by section 22(3).

3.(1) At the end of the last financial year ending before the date of the
application, the value of the liquid funds of the building society must have
been seven and a half per cent. or more of the value of the assets of the
society.

(2) For the purposes of this paragraph

(a)"liquid funds" means the funds of the building society (whether represented
by investments or on loan to a bank or held in cash) which were not
immediately required for its purposes, less any amount due from the society
(whether immediately payable or not) otherwise than in respect of shares in,
or deposits with, the society; and

(b)the value of such of the funds of the society as were represented by
investments shall be the value at which they were taken into account in the
balance sheet for the last financial year ending before the date of the
application, and not any alternative value shown in that balance sheet.

4.(1) At the end of the last financial year ending before the date of the
application, there must not have been outstanding, in whole or in part, any
advance made by the society of which particulars were, in compliance with
section 89, shown in any annual return sent to the registrar by the society,
or in any auditors' report made to the society.

(2) If particulars of any advance were so shown in any such annual return or
auditors' report before the date of the application, the application shall be
accompanied by a statutory declaration by the manager or secretary of the
building society stating that the advance has been wholly repaid.

5. The application must contain or be accompanied by a report by the auditors
of the building society, stating that in their opinion the balance of the
revenue and appropriation account for the last financial year ending before
the date of the application represents a surplus, after making any adjustments
which in their opinion are necessary to provide for diminution in value of
assets, or in respect of items of an exceptional or abnormal nature.

6. The building society must not at the date of the application be in arrear
with any interest due on shares in the society.

7. The application must be accompanied by a statutory declaration by the
manager or secretary of the building society, stating that none of the
directors of the society held office at the date of the application for a
fixed term exceeding five years from appointment, or for a term which was not
fixed.

8. Neither any director of the building society nor the manager or secretary
may, at the date of the application, be a person who has been a director or
the manager or secretary of a building society at a time when an order has
been made against that society under section 48 of this Act, or under section
8 of the Building Societies Act (Northern Ireland) 1964, unless the order was
made more than five years before the date of the application.

1. A charge upon a policy of life assurance.

2. A guarantee given, whether in pursuance of a continuing arrangement or not,
by an assurance company.

3.(1) A guarantee given, whether in pursuance of a continuing arrangement or
not, under any of the enactments specified in sub-paragraph (2) (being
enactments under which certain local authorities [or the Housing Corporation]
are or were empowered to guarantee the repayment of advances to building
societies).

(2) The said enactments are

(a)in relation to Northern Ireland [Article 156 of the Housing (Northern
Ireland) Order 1981 and] section 23(1) of the Housing (Miscellaneous
Provisions) and Rent Restriction Law (Amendment) Act (Northern Ireland) 1956;

(b)in relation to England and Wales [section 11 of the Housing Act 1980],
section 45 of the Housing (Financial Provisions) Act 1958, section 5 of the
Housing Act 1949, and section 91(1)(b) of the Housing Act 1936;

(c)in relation to Scotland, section 77 of the Housing (Scotland) Act 1950,
section 30 of the Housing (Scotland) Act 1949, and section 75(1)(b) of the
Housing (Scotland) Act 1925.

4. A charge upon money deposited with the building society or upon any
narrower-range investments or wider-range investments (within the meaning of
the Trustee Investments Act 1961).

5.(1) A charge given by the member upon the stock, shares or other securities
of a public utility undertaking by which the member is or has been employed,
being a charge effected in favour of a building society which carries on
business wholly or mainly for the purpose of facilitating the acquisition of
houses by persons who are or have been employed by that undertaking.

(2) In this paragraph "public utility undertaking" means any company or other
body or person authorised by or under any Act (whether passed by the
Parliament of the United Kingdom or the Parliament of Northern Ireland), or
under any order having the force of such an Act, to construct, work or carry
on a railway, canal, inland navigation, dock, harbour, tramway, gas,
electricity, water or other public undertaking.

6. A guarantee, not being a guarantee in pursuance of a
continuing arrangement, accepted by the building society with the written
consent of the member, and supported by a charge upon money deposited with the
society or upon any such investments as are mentioned in paragraph 4.

7. A charge upon money deposited with the building society, being a charge
which is given in accordance with arrangements which are approved by
the Ministry and which provide that the society shall also take, as further
security for each advance in respect of which such a charge is given to the
society, a guarantee given by an assurance company to which the Assurance
Companies Acts (Northern Ireland) 1909 to 1947 apply.

8. A guarantee given in pursuance of a continuing arrangement which conforms
to the requirements of Part I of Schedule 4, being, except as otherwise
provided in Part II of that Schedule, a guarantee supported by deposits of
money made in pursuance of such an arrangement.

9.(1) A guarantee given, whether in pursuance of a continuing arrangement or
not, by

(a)a bank authorised under section 59 to hold the funds of a building society,
or

(b)a company, not being such a bank and not being an assurance company to
which the Assurance Companies Acts (Northern Ireland) 1909 to 1947, apply, but
being a company incorporated in the United Kingdom and having a total issued
and paid-up share capital of one million pounds or more, and having, in each
of the five years immediately preceding the calendar year in which the
guarantee is given, paid a dividend on all the shares issued by it, excluding
any shares issued after the dividend was declared and any shares which by
their terms of issue did not rank for the dividend for that year, or

[(c)a public authority (including a nationalised industry or undertaking) in
the United Kingdom.]

(2) For the purposes of sub-paragraph (1)(b) a company formed to take over the
business of another company or other companies, or to acquire the securities
of, or control of, another company or other companies, or for either of those
purposes and for other purposes, shall be deemed to have paid a dividend as
mentioned in that sub-paragraph in any year in which such a dividend has been
paid by the other company or all the other companies, as the case may be.

10.(1) A guarantee given, otherwise than in pursuance of a
continuing arrangement, by a housing society with which the building society
has a continuing arrangement in relation to which all or any of the
requirements of paragraphs 4 to 7 of Schedule 4 have been dispensed with as a
result of a direction given under Part II of that Schedule.

(2) In this paragraph "housing society" means any body of persons, whether
incorporated or not, which, in the opinion of the registrar, was, on 1st July
1940, carrying on business mainly for the purpose of facilitating the
acquisition of houses by persons engaged or employed in any particular
occupation or employment, or, in the case of a body formed after that date, is
a body which has succeeded to the business carried on at that date by such a
body as aforesaid.

11. A guarantee given, whether in pursuance of a continuing arrangement or
not, by

(a)a university, or

(b)a university college, or

(c)a college of a university, including, in the case of a university organised
on a collegiate basis, a constituent college or other society recognised by
the university or a college incorporated in the univerisity or a school of the
university.

[12.(1) A guarantee given, whether in pursuance of a continuing arrangement or
not, by

(a)an institution, not being one referred to in paragraph 11, which is
empowered by Royal Charter to grant and confer degrees, or

(b)a company incorporated outside the United Kingdom being a company (to which
the provisions of either section 355 of the Companies Act (Northern Ireland)
1960 or section 406 of the Companies Act 1948 apply) which has a total issued
and paid up share capital of an amount which when converted into sterling at
the rate of exchange current at the time of the giving of the guarantee is ten
million pounds or more, and which had in each of the five years immediately
preceding the calendar year in which the guarantee is given, paid a dividend
on all shares issued by it, excluding any shares issued after the dividend was
declared and any shares which by their terms of issue did not rank for
dividend for that year.

(2) For the purposes of sub-paragraph (1)(b) a company formed to take over the
business of another company or other companies (being a company or companies
incorporated in the United Kingdom or elsewhere), or to acquire the securities
of, or control of, another company or other companies (being a company or
companies incorporated in the United Kingdom or elsewhere), or for either of
those purposes and for other purposes, shall be deemed to have paid a dividend
as mentioned in sub-paragraph (1)(b) in any year in which such a dividend has
been paid by the other company or all other companies, as the case may be.]

[13. A guarantee given, whether in pursuance of a continuing arrangement or
not, by the society incorporated by Lloyd's Act 1871 under the name of
Lloyd's.]

[14. An agreement under section 111 of the Housing Act 1980 (agreement by
local authority or Housing Corporation to indemnify building society in
respect of mortgagor's default).]

1.(1) Subject to the provisions of Part II of this Schedule, the requirements
referred to in paragraph 8 of Schedule 3, in relation to a
continuing arrangement made between a building society and another person, are
those set out in the following provisions of this Part.

(2) In this Schedule, in relation to a continuing arrangement, "the guarantor"
means the person (other than the building society) with whom the arrangement
is made, and "guarantee" means a guarantee given by the guarantor in pursuance
of the arrangement; "the advance", in relation to a guarantee, means
the advance to which the guarantee relates; and "the purchase price", in
relation to an advance, means the purchase price for the defraying of which
the advance is made.

2. The arrangement must provide that each guarantee

(a)will secure the repayment to the building society, on account of the
principal of the advance, of a sum not less than the amount by which
the advance exceeds two-thirds of the purchase price, and

(b)will also secure the repayment to the building society of all sums which
may accrue due to the society in respect of the advance (otherwise than on
account of the principal thereof) before the sums repayable to the society on
account of that principal have been reduced to two-thirds of
the purchase price.

3. The arrangement must provide that the guarantor will not be released from
his liability in respect of any guarantee until the sum repayable to the
building society in respect of the principal of the advance has been reduced
to or below an amount equal to two-thirds of the purchase price.

4. The arrangement must provide that the guarantor will deposit with the
building society, as security for his liability in respect of each guarantee,
a sum of money which in the case of the first five guarantees is at least
equal to the amount of the excess advance, and in the case of each subsequent
guarantee is at least equal to one-third of that amount.

5.(1) The arrangement must provide that, subject to any right of withdrawal
which may be given by the arrangement in conformity with the next following
paragraph, each sum deposited with the building society as mentioned in
paragraph 4 will be held by the society, not only as security for the
liability of the guarantor in respect of the guarantee in connection with
which it was deposited, but also as security for such sums as may become due
to the society in respect of all relevant advances.

(2) In this paragraph, and in paragraphs 6 and 7, "relevant advance", in
relation to a continuing arrangement, means an advance which fulfils the
following conditions, that is to say

(a)that the advance (whether made before or after the deposit in question) was
made in pursuance of the arrangement, and

(b)that the sums repayable in respect of the principal of the advance have not
for the time being been reduced to an amount equal to two-thirds of
the purchase price.

6. The arrangement must provide that no withdrawal of or from the sums
deposited with the building society as mentioned in paragraph 4 may be made by
the guarantor, unless the sums held by the society in accordance with
paragraph 5 as security in respect of relevant advances will, after the
withdrawal, be of an amount at least equal to the sum of

(a)the amount by which the aggregate of the sums then repayable to the
building society in respect of the principal of advances to which this
sub-paragraph applies exceeds two-thirds of the aggregate of
the purchase prices relating to advances to which this sub-paragraph applies,
and

(b)one-third of the amount by which the aggregate of the sums then repayable
to the society in respect of the principal of advances to which this
sub-paragraph applies exceeds an amount equal to two-thirds of the aggregate
of the purchase prices relating to advances to which this sub-paragraph
applies.

7. For the purposes of the application of paragraph 6 to the withdrawal of any
sum deposited in pursuance of a continuing arrangement

(a)sub-paragraph (a) of that paragraph applies to such of the
relevant advances as were included in the first five advances made by the
building society in pursuance of the arrangement, and

(b)sub-paragraph (b) of that paragraph applies to such of the
relevant advances as were not so included.

8. The provisions of this Part of this Schedule shall have effect where a
building society proposes to make a continuing arrangement with a government
department, a public utility undertaking or a housing society.

9.(1) If on the application of the building society the registrar is satisfied
that compliance with the requirements of paragraphs 4 to 7 of this Schedule is
wholly or partly unnecessary, the registrar may, with the approval of
the Ministry, direct that all or any of those requirements shall be dispensed
with.

(2) Where a direction is given under this paragraph, the provisions of Part I
shall apply in relation to the arrangement subject to that direction.

10. In this Part of this Schedule "public utility undertaking" has the same
meaning as in paragraph 5 of Schedule 3 and "housing society" has the same
meaning as in paragraph 10 of that Schedule.

1. Any charge over land in Northern Ireland required by [section 87 of, and
Schedule 11 to, the Land Registration Act (Northern Ireland) 1970] to be
registered in the statutory charges register.

2.(1) Any charge over land in Great Britain acquired by a local authority
under any Act of the Parliament of the United Kingdom or under any instrument
made under any such Act, being a charge which takes effect by virtue of
the Act or instrument.

(2) In this paragraph "local authority"

(a)in relation to England and Wales, means any authority being, within the
meaning of the Local Loans Act 1875, an authority having power to levy a rate,
and

(b)xtlf110lf40f2f1f2f1f2f1lf40icf3f1lf20icf3f1lf40li1300f3f1f3f1xllf110lf40f2f1f2f1f2f1f2f1f2f1lf40iciciciclf20iclf20iclf20xtlf110lf40f2f1f2f1f2f1lf40Contents
of rulesA1. Section 4(1) shall not operate so as to require the rules of a
building society established before 25th August, 1894, to set out the matters
specified in paragraphs (b) to (e) or (g) to (j) of that subsection, if the
society has not (either before or after the commencement of this Act)
substituted a new set of rules for the rules which it had in force immediately
before that day.

Para.2 rep. by SLR 1976

3.(1) If and so far as a building society incorporated before 1st October,
1964

(a)had not, before the end of the year 1965, provided in its rules for a
matter specified in section 4(2), and

(b)has not subsequently (but before the commencement of this Act) altered its
rules so as to provide for that matter and so as expressly to exclude the
relevant provisions of Schedule 4 to the Building Societies Act (Northern
Ireland) 1964, (which contained provisions corresponding to those of Schedule
9 to this Act),

(2) Where, in a case falling within sub-paragraph (1), the building society
has (whether before or after the commencement of this Act) provided by its
rules for the matter in question, the society may also by its rules expressly
exclude the relevant provisions of the said Schedule 9.

4.(1) Section 28

(a)shall not have effect with respect to any advance made before 1st July
1940, and

(b)in relation to any advance made on or after that day, but before 1st
October 1964, shall have effect as if

(i)in subsection (1) of that section, the words from "but does not apply" to
the end of the subsection, and

(ii)in subsection (3) of that section, the words from "but where" to the end
of the subsection,

(b)were omitted.

(2) Subject to sub-paragraph (1), section 28 shall have effect in relation to
an advance made before as it has effect in relation to an advance made after
the commencement of this Act.

5. Section 35 does not apply to a building society established before 25th
August 1894.

6.(1) Where the rules of such a building society provide that advances may be
balloted for, the society may, in accordance with the following provisions of
this paragraph, resolve upon a scheme for discontinuing advances by ballot and
for making other provision in lieu thereof.

(2) Any such resolution shall have effect (notwithstanding anything in the
rules of the society) if, but only if, it is passed by a majority of the
members of the society voting in person or by proxy or by voting papers at a
meeting called for the purpose, and if the scheme is supported by a majority
of such of the members voting in person or by proxy or by voting papers at the
meeting as have not at the date of the meeting received their advances by
ballot.

(3) A notice of any such meeting, and a copy of the proposed scheme, together
with a voting paper, shall be sent by post to every member of the society at
least twenty-one days before the date of the meeting.

(4) Every scheme so resolved upon, and every alteration of such a scheme,
shall be registered in the manner provided by this Act for the registration of
rules, and shall be binding on all members and officers of the
building society.

7. Section 46 shall have effect with respect to persons who died before, as it
has effect in relation to persons who die after, the commencement of this Act,
except that in relation to any person who died before 21st April 1967, that
section shall have effect

(a)with the insertion of the word "intestate" after the word "dies" in
subsection (1) and after the word "died" in subsection (3),

(b)with the insertion of the words ", in the belief that he died intestate,"
after the words "building society" in subsection (4),

(c)with the addition of the words "under the law governing the distribution of
the movable estate of the member or depositor dying intestate" at the end of
subsection (2),

(d)with the omission

(i)of the words from "(or such" to "1967)", in subsection (1),

(ii)of the words "or probate of any will" in subsection (2), and

(e)with the substitution in subsection (1) for the words "five hundred pounds"
of the words "one hundred pounds" or, where that person died before 1st
October 1964, of the words "fifty pounds".

8. In respect of anything done at a time before 1st January 1941, nothing in
section 92(1) shall deprive a person of any exemption or right to be
indemnified by virtue of a provision to which that section applies, if that
provision was in force at that time.

9. In the case of a building society established before 25th August 1894

(a)if, before the commencement of this Act, the society has altered its
financial year in the exercise of the power conferred by section 79(2) of the
Building Societies Act (Northern Ireland) 1964 (which contained provisions
corresponding to those of section 127(2) of this Act), "financial year" shall
have the meaning assigned to it by section 127 of this Act and shall also (so
far as may be relevant for the purposes of this Act) include the period for
which the society made up its accounts in the exercise of that power;

(b)if, after the commencement of this Act, the society exercises the power
conferred by section 127(2), "financial year" shall have the meaning assigned
to it by that section (including subsection (2) thereof) in relation to the
period mentioned in that subsection and in relation to any subsequent period;

(c)subject to the preceding provisions of this paragraph, "financial year"
means a period of twelve months ending with the time up to which, at the
passing of the Building Societies Act (Northern Ireland) 1964 (that is to say,
on 2nd June 1964), the accounts of the society were annually made up.

10. Any reference in any provision of this Schedule to a building society
established before a date therein mentioned is a reference to a society
established before that date which either was established as a
building society within the meaning of this Act or has become such a
building society.

1.(1) The society shall in the first four months of each financial year hold a
meeting as its annual general meeting in addition to any other meetings in
that year, and shall specify the meeting as such in the notices calling it;
and the annual general meeting shall be held at such time and place as the
directors shall appoint.

(2) The directors of the society may, whenever they think fit, convene a
meeting other than the annual general meeting.

2.(1) The directors of the society shall, on the requisition of a number of
members of the society which is not less than one-tenth of the total
membership, or, if the society has more than one thousand members, on the
requisition of one hundred or more members, forthwith proceed duly to convene
a meeting of the society.

(2) The requisition must state the objects of the meeting, and must be signed
by the requisitionists and deposited at the chief office of the society, and
may consist of several documents in like form each signed by one or more
requisitionists.

(3) If the directors do not within twenty-one days from the date of the
deposit of the requisition proceed duly to convene a meeting, the
requisitionists, or any proportion of them exceeding one-half, may themselves
convene a meeting, but any meeting so convened shall not be held after the
expiration of three months from the said date.

(4) The meeting convened under this rule by the requisitionists shall be
convened in the same manner, as nearly as possible, as that in which meetings
are convened by the directors.

(5) Any reasonable expenses incurred by the requisitionists by reason of the
failure of the directors duly to convene a meeting shall be repaid to the
requisitionists by the society, and any sum so repaid shall be retained by the
society out of any sums owed to or coming from the society to such of the
directors as were in default by way of fees or other remuneration in respect
of their services.

(6) The society or, as the case may be, the requisitionists shall give the
members of the society notice of any resolution which the requisitionists
propose to move at the meeting at the same time and in the same manner as
notice is given of the meeting.

3. Notice of a meeting of the society shall specify the place, the day and the
hour of meeting and the nature of the business to be transacted at the
meeting.

4.(1) A notice may be given by the society to any member by sending it by post
to him or to his registered address, or (if he has no registered address
within the United Kingdom) to the address, if any, within the United Kingdom
supplied by him to the society for the giving of notice to him.

Where a notice is sent by post, service of the notice shall be deemed to be
effected by properly addressing, prepaying and posting a letter containing the
notice, and to have been effected, in the case of a notice of a meeting, at
the expiration of twenty-four hours after the letter containing it is posted,
and in any other case at the time at which the letter would be delivered in
the ordinary course of post.

(2) A notice may be given by the society to the joint holders of a share by
giving the notice to the joint holder first named in the books of the society
in respect of the share.

(3) A notice may be given by the society to the persons entitled to a share in
consequence of the death or bankruptcy of a member by sending it through the
post in a prepaid letter addressed to them by name, or by the title of
representatives of the deceased, or the assignee or trustee of the bankrupt,
or by any like description, at the address, if any, within the United Kingdom
supplied for the purpose by the persons claiming to be so entitled, or (until
such an address has been so supplied) by giving the notice in any manner in
which it might have been given if the death or bankruptcy had not occurred.

5.(1) No business shall be transacted at any meeting unless a quorum of
members is present at the time when the meeting proceeds to business; save as
herein otherwise provided, five members present in person shall be a quorum.

(2) If within half an hour from the time appointed for the meeting a quorum is
not present, the meeting, if convened upon the requisition of members, shall
be dissolved; in any other case it shall stand adjourned to the same day in
the next week, at the same time and place or to such other day and at such
other time and place as the directors may determine, and if at the adjourned
meeting a quorum is not present within half an hour from the time appointed
for the meeting, the members present shall be a quorum.

(3) The chairman, if any, of the board of directors shall preside as chairman
at every meeting of the society, or if there is no such chairman, or if he
shall not be present within fifteen minutes after the time appointed for the
holding of the meeting, or is unwilling to act, the directors present shall
elect one of their number to be chairman of the meeting.

(4) If at any meeting no director is willing to act as chairman or if no
director is present within fifteen minutes after the time appointed for
holding the meeting, the members present shall choose one of their number to
be the chairman of the meeting.

(5) The chairman may, with the consent of any meeting at which a quorum is
present (and shall if so directed by the meeting), adjourn the meeting from
time to time and from place to place, but no business shall be transacted at
any adjourned meeting other than the business left unfinished at the meeting
from which the adjournment took place. When a meeting is adjourned for thirty
days or more, notice of the adjourned meeting shall be given as in the case of
an original meeting. Save as aforesaid it shall not be necessary to give any
notice of an adjournment or of the business to be transacted at an adjourned
meeting.

(6) At any meeting a resolution put to the vote of the meeting shall be
decided on a show of hands unless a poll is (before or on the declaration of
the result of the show of hands) demanded

(a)by the chairman, or

(b)by at least ten members present in person or by proxy.

Unless a poll be so demanded a declaration by the chairman that a resolution
has on a show of hands been carried, or carried unanimously, or by a
particular majority, or lost, and an entry to that effect in the book
containing the minutes of the proceedings of the society, shall be conclusive
evidence of the fact without proof of the number or proportion of the votes
recorded in favour of or against the resolution.

The demand for a poll may be withdrawn.

(7) If a resolution put to the vote of the meeting is a resolution which under
the Building Societies Act (Northern Ireland) 1967, will not be effective
unless it is passed as a special resolution, a poll shall be deemed to have
been demanded by the chairman.

6.(1) Except as provided in the following provisions of this rule, if a poll
is duly demanded it shall be taken in such manner as the chairman directs, and
the result of the poll shall be deemed to be the resolution of the meeting at
which the poll was demanded.

(2) In the case of an equality of votes, whether on a show of hands or on a
poll, the chairman of the meeting at which the show of hands takes place, or
at which the poll is demanded, shall be entitled to a second or casting vote.

(3) A poll demanded on the election of a chairman or on a question of
adjournment shall be taken forthwith. A poll demanded on any other question
shall be taken at such time as the chairman of the meeting directs, and any
business other than that upon which a poll has been demanded may be proceeded
with pending the taking of the poll.

7.(1) On a show of hands every member present in person shall have one vote.

(2) On a poll on a resolution which under the Building Societies Act (Northern
Ireland) 1967 will not be effective unless it is passed as a
special resolution, every member who at the end of the last financial year
ending before the date of the meeting held shares in the building society to
the value of one pound or more shall have one vote.

(3) On a poll on any other resolution a member who at the end of the last
financial year ending before the date of the meeting held shares in the
building society to the value of twenty-five pounds or more shall have such
number of votes as is indicated in the following Table.

#25 or more but not more than #100

More than #100 but not more than #200

More than #200 but not more than #300

More than #300 but not more than #400

More than #400

For the purpose of this rule any shares which are fully paid up shall be taken
at their nominal value and any shares which are partly paid up shall be taken
at the amount which has been paid up on them respectively.

(4) No objection shall be raised to the qualification of any voter except at
the meeting or adjourned meeting at which the vote objected to is given or
tendered, and every vote not disallowed at such meeting shall be valid for all
purposes. Any such objection made in due time shall be referred to the
chairman of the meeting, whose decision shall be final and conclusive.

(5) On a poll votes may be given either personally or by proxy.

8.(1) The instrument appointing a proxy shall be in writing under the hand of
the appointer or of his attorney duly authorised in writing, or, if the
appointer is a corporation, either under seal or under the hand of an officer
or attorney duly authorised. A proxy need not be a member of the society.

(2) The instrument appointing a proxy, and the power of attorney or other
authority, if any, under which it is signed, or a notarially certified copy of
that power or authority, shall be deposited at the chief office of the
society, or at such other place within the United Kingdom as is specified for
that purpose in the notice convening the meeting, not less than forty-eight
hours before the time for holding the meeting, or adjourned meeting, at which
the person named in the instrument proposes to vote, or, in the case of a
poll, not less than twenty-four hours before the time appointed for the taking
of the poll, and in default the instrument of proxy shall not be treated as
valid.

(3) An instrument appointing a proxy shall be in the following form or a form
as near thereto as circumstances admit

Building Society I/We of < inthe county of <, being a member/members of theabove-named society, hereby appoint < of, or failing him,


, 19 <, and at any adjournment thereof.


Signed this day of , 19 <."


(4) Where it is desired to afford members an opportunity of voting for or
against a resolution, the instrument appointing a proxy shall be in the
following form or a form as near thereto as circumstances admit

Building Society I/We of < inthe county of <, being a member/members of theabove-named society, hereby appoint < of, or failing him,


, 19 <, and at any adjournment thereof.


Signed this day of , 19 <.


This form is to be used in favour of/against the resolution. Unless otherwise
instructed, the proxy will vote as he thinks fit.

(5) The instrument appointing a proxy shall be deemed to confer authority to
demand or join in demanding a poll.

(6) A vote given in accordance with the terms of an instrument of proxy shall
be valid notwithstanding the previous death or insanity of the principal or
the revocation of the proxy or of the authority under which the proxy was
executed, or the transfer of the share in respect of which the proxy is given,
provided that no intimation in writing of such death, insanity, revocation or
transfer as aforesaid shall have been received by the society at its office
before the commencement of the meeting or adjourned meeting at which the proxy
is used.

9.(1) A joint holding of shares in the society shall not give to any of the
joint holders, other than the one who is first named in the books of the
society, the right to attend a meeting or any right conferred by these rules
on a member.

(2) Without prejudice to the generality of the foregoing provisions of this
rule, any shares which are held jointly shall, for the purpose of determining
which members are qualified to vote, whether in person or by proxy, on any
resolution, and the number of votes they may give, be regarded as held by the
joint holder who is first named in the books of the society.

(3) Any reference in these rules to the total membership of the society, or to
any number of members of the society, shall be read as if any shares held
jointly were held by the joint holder so first named.

10. Any corporation which is a member of the society may by resolution of its
directors or other governing body authorise such person as it thinks fit to
act as its representative at any meeting of the society or of any class of
members of the society, and the person so authorised shall be entitled to
exercise the same powers on behalf of the corporation which he represents as
that corporation could exercise if it were an individual member of the
society.

Schedule 10Repeals

Section 71.

Section 129.

1964 c.15

1964 c.15

Section 129.
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Northern Irish Legislation

BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 133
