BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 17 Alteration of rules.

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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 17

Alteration of rules.

17.(1) A building society may alter its rules by special resolution.

(2) Where a building society by special resolution alters its rules, it shall
send to the registrar two copies of the alteration (or, in the case of the
rescission of a rule, two copies of the resolution) signed by three members
and the secretary, and a statutory declaration by an officer of the society
that the resolution has been passed as a special resolution.

(3) Where copies are sent to the registrar in accordance with subsection (2),
and the registrar finds that the alteration is in conformity with this Act, he
shall retain and register one of the copies and shall return the other copy to
the secretary or other officer of the society with a certificate of
registration.

(4) Any provision in the rules of a building society that the rules may be
altered without passing a special resolution shall be void.

(5) If a building society fails to comply with subsection (2), the society,
and every officer of the society who is in default, shall be liable on summary
conviction to a fine not exceeding two hundred pounds.

Building societies may unite.

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Northern Irish Legislation

BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 17