FRIENDLY SOCIETIES ACT (NORTHERN IRELAND) 1970 - SECT 82 Cancellation and suspension of registration of society.

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FRIENDLY SOCIETIES ACT (NORTHERN IRELAND) 1970 - SECT 82

Cancellation and suspension of registration of society.

82.(1) Subject to the following provisions of this section, a
registered society or branch may terminate or be dissolved in any of the
following ways, namely

(a)upon the happening of any event declared by the rules to be the termination
of the society or branch; or

(b)by the consent of three-quarters of the members testified by their
signatures to an instrument of dissolution and, in the case of a branch of a
friendly society, with the consent of the central body of the society or in
accordance with the general rules of the society; or

(c)by an award of the registrar under section 84(3).

(2) A society which has branches shall not be dissolved except with the
consent of the central body of the society.

(3) If any member of a registered friendly society or branch in respect of
which an instrument of dissolution has been registered in accordance with
section 83, or if any person claiming any relief, annuity or other benefit
from the funds of such a society or branch, is dissatisfied with the provision
made for satisfying his claim, he may make an application within the period of
three months referred to in subsection (7) of that section to the county court
for the division within which the chief or any other place of business of that
society or branch is situate; and on any such application that court shall
have the same powers in the matter as it has in regard to the settlement of
disputes under this Act.

(4) If, in the event of a dissolution of a registered friendly society or
branch, any approved annuity as defined in section 226(13) of the Income and
Corporation Taxes Act 1970 ceases to be paid or any contract for the payment
of such an annuity fails in whole or in part, no payment shall be made in
respect thereof out of the funds of the society or branch to the annuitant or
other person entitled to the benefit of the contract, but any sum which, but
for this provision, would have been paid to him shall be applied in purchasing
for the benefit of the annuitant an annuity (for the like term and subject to
the like conditions against surrender, commutation or assignment) from a
person lawfully carrying on in the United Kingdom a business of granting
annuities on human life.

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Northern Irish Legislation

FRIENDLY SOCIETIES ACT (NORTHERN IRELAND) 1970 - SECT 82