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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 61

1894 c.47

61.(1) If a building society contravenes sections 58(1), 59(1) or 59(4), the
society 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.

(2) Where a bank (within the meaning of section 59) ceases to be authorised as
mentioned in subsection (1) of that section, and any funds of a
building society on loan to the bank thereupon cease to be kept in a manner
permitted by that subsection, the society shall not on that account be guilty
of an offence under that subsection, but without prejudice to the operation of
subsection (4) of that section or of subsection (1) of this section in
relation to the said subsection (4).

Offences under Part V.

© 1967 Crown Copyright

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