BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 57 Supplementary provisions as to small societies.

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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 57

Supplementary provisions as to small societies.

57.(1) The registrar shall have power, with the consent of the Ministry, to
make regulations with respect to the matter and form of any kinds of
communications which a building society may issue or cause to be issued, and
in particular

(a)of any kinds of advertisements; or

(b)of any kinds of invitations, whether or not addressed to particular
persons, to invest in or lend money to a building society.

(2) Regulations under this section may in particular

(a)require that in any specified kinds of advertisements, or invitations to
invest in or lend money to a building society, there shall be included a
statement in the prescribed form concerning the general financial position of
the building society, or giving any particular information with respect to the
affairs of the society;

(b)require a building society to take the prescribed steps to withdraw
advertisements which are on display in public places and which do not comply
with the requirements of the regulations.

(3) Any regulations under this section may contain such transitional,
supplemental and incidental provisions as appear to the registrar to be
desirable.

(4) If a building society contravenes any provisions contained in regulations
under this section it shall be liable on conviction on indictment or on
summary conviction to a fine which, on summary conviction, shall not exceed
two hundred pounds; and every officer of the society who is in default shall
be liable

(a)on conviction on indictment, to a fine, or to imprisonment for a term not
exceeding two years, or to both; or

(b)on summary conviction, to a fine not exceeding two hundred pounds, or to
imprisonment for a term not exceeding three months, or to both.

(5) If an officer or servant of a building society contravenes any provisions
contained in regulations under this section he shall be liable

(a)on conviction on indictment, to a fine, or to imprisonment for a term not
exceeding two years, or to both; or

(b)on summary conviction, to a fine not exceeding two hundred pounds, or to
imprisonment for a term not exceeding three months, or to both.

(6) In this section "prescribed" means prescribed by regulations under this
section.

General control of advertisements and other communications.

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Northern Irish Legislation

BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 57