|
|
[Home] [Databases] [World Law] [Search] [Feedback] | |
Northern Irish Legislation |
||
| You are here: BAILII >> Databases >> Northern Irish Legislation >> WAR LOAN (SUPPLEMENTAL PROVISIONS) ACT 1915 | ||
[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]
Power of Public Trustee to hold securities of friendly societies, &c. 8.(1) Notwithstanding anything in any Act to the contrary, any part of the funds of any registered friendly society or any branch thereof, or of any registered trade union..., and any stocks, shares, or securities held by or on behalf of any such society, union, or branch, may, if the Public Trustee agrees to such transfer, and rules of the society, union, or branch are made for the purpose, be transferred to the Public Trustee. (2) The Public Trustee shall invest, in accordance with the rules, any funds so transferred to him, and shall pay the interest on any stocks, shares, or securities acquired by or transferred to him in pursuance of this section to the trustees of the society, union, or branch; and shall, if and when so required by those trustees, transfer the capital of the stocks, shares, or securities to them, or realise the same and transfer the proceeds to them. (3) Pending the making of rules, any War Loan Stock, 19251945, held by or on behalf of any such society, union, or branch may, if the Public Trustee agrees to such transfer, be transferred to him as though rules were made for the purpose. (4) The Public Trustee shall be completely exonerated from any liability in relation to any stock, shares, or securities held by him in pursuance of this section, and no action shall lie against the Public Trustee in respect of any such stock, shares, or securities, provided that he acts in accordance with the provisions of this section. Subs.(5) rep. by SLR 1927 S.10 rep. by 1954 c.63 s.82 sch.3
© 1915 Crown Copyright
BAILII:
Copyright Policy |
Disclaimers |
Privacy Policy |
Feedback
URL: http://www.bailii.org/nie/legis/num_act/wlpa1915386/s8.html