COMPANIES (CONVERTED SOCIETIES) ACT 1910

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COMPANIES (CONVERTED SOCIETIES) ACT 1910 - SECT 1



1.(1) Where a registered society purporting to act under section seventy-one
of the Friendly Societies Act, 1896, or any similar enactment repealed by that
Act, has, before the passing of this Act, passed a special resolution for
converting the society into a company under the Companies (Consolidation) Act,
1908, or any enactment repealed by that Act, and has been registered under any
such Act, the validity of the special resolution shall not be questioned on
the ground that the objects of the company as set forth in the special
resolution extend beyond those authorised by the rules of the society at the
date of the passing of the resolution, or that in any other respect the
requirements of the said section or enactment have not been complied with; and
for removing doubts it is hereby declared that section seventeen of the
Companies (Consolidation) Act, 1908, relating to the conclusiveness of
certificates of incorporation, shall apply in such a case as well as in all
other cases:

Provided that, where the business carried on by the society before conversion
included assurance or insurance business of any description, then, as from the
passing of this Act, the objects of the company shall not extend beyond those
authorised by the rules of the society at the date of the passing of the
special resolution, except so far as may be necessary for giving effect to,
and for carrying out any assurances, contracts or policies, made, entered
into, or issued before the passing of this Act.

(2) Nothing in this Act shall be construed as prejudicing the right of any
such company to alter its memorandum of association with respect to its
objects in accordance with the provisions of the Companies (Consolidation)
Act, 1908, or as preventing any such company exercising any powers which are
merely incidental or ancillary to the principal business carried on by the
company.

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Northern Irish Legislation

COMPANIES (CONVERTED SOCIETIES) ACT 1910 - SECT 1