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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 52

Power to control advertising.

52.(1) Not less than one week before giving a direction under section 51 with
respect to a building society, the registrar shall serve on the society, and
on every director of the society, a notice stating that he proposes to give
the direction.

(2) Any such notice served on a building society shall specify the
considerations which have led the registrar to conclude that it would be in
the interests of persons who may invest or deposit money with the society to
give the direction.

(3) The registrar shall consider any representations with respect to the
notice which may be made to him by the building society within the period of
one week from the date on which the society is served with the notice, and, if
the society so requests, shall afford to it an opportunity of being heard by
him within that period.

(4) On giving a direction under section 51 the registrar shall serve on the
building society, and on every director of the society, a notice of the giving
of the direction, and shall serve on the society a notice specifying the
considerations which have led him to conclude that it is expedient to give the
direction in the interests of persons who may invest or deposit money with the
society; and the registrar shall not have power to give a direction under
section 51 unless all the considerations so specified were those, or were
among those, which were specified in the notice served on the society under
subsections (1) and (2) of this section.

(5) A notice under this section may be served on a director of a
building society by sending it by post to his address, or latest address, as
notified to the registrar by the society or the director; and failure to serve
a notice under this section on a director shall not affect the validity of a
direction under section 51.

(6) Any direction under section 51 may be varied or revoked at any time by a
subsequent direction thereunder.

(7) References in subsections (1) and (4) to a direction under section 51 do
not include a direction revoking a previous direction.

© 1967 Crown Copyright

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