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BUILDING SOCIETIES ACT (NORTHERN IRELAND) 1967 - SECT 71

71.(1) Every officer of a building society having the receipt or charge of any
money belonging to the society shall, before entering upon the execution of
his office, give security in such sum as the society may require, conditioned
for rendering a just and true account of all moneys received and paid by him
on account of the society, and for payment of all sums of money due from him
to the society, at such times as its rules appoint or as the society may
require.

(2) An officer shall give security in accordance with subsection (1) either

(a)by becoming bound, with at least one sufficient surety, in a bond in the
form set out in Schedule 7; or

(b)by giving the security of a guarantee society, or such other security as
the building society may direct.

© 1967 Crown Copyright

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