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Revised Statute from The UK Statute Law Database

Friendly Societies Act 1974 (c. 46)

This version of this statute is extracted from the UK Statute Law Database (SLD). It is not necessarily in the form in which it was originally enacted but is a revised version, which means that any subsequent amendments to the text and other effects are incorporated with annotations.

There are effects on this legislation that have not yet been applied to SLD for the following years: 2003, 2004, 2005, 2006, 2008 and 2009. See the Tables of Legislative effects and the Update status of legislation page on the SLD website.

Royal arms

Friendly Societies Act 1974

1974 CHAPTER 46

Contents

Go to Preamble

  1. The Registry of Friendly Societies

    1. 1.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 3.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 4.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 5.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 6.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  2. Registration of societies and branches

    1. 7. Societies which may be registered

    2. 8.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 9. Special provisions as to dividing societies and societies assuring annuities

    4. 10.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 11. Additional requirements for registration of societies with branches

    6. 12. Establishment of new branches

    7. 13. Registration of branches as societies

    8. 14. Name of seceding or expelled branch

    9. 16. Appeals from refusal to register

  3. Provisions as to rules

    1. 17.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 18. Registration of amendments of rules of society or branch

    3. 19. Acknowledgment of registration of amendments of rules

    4. 20. Appeals from refusal to register amendment of rule

    5. 21. Duty to supply copies of rules

    6. 22. Rules of certain registered societies to bind members at law

    7. 23. Special provisions which may be included in rules

  4. Trustees and Officers

    1. 24. Trustees of registered societies and branches

    2. 25. Minors not to hold office

    3. 26. Proof of appointment of officers and trustees

    4. 27.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    5. 28.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  5. Accounts, audit and auditors

    1. 29. Books of account, etc

    2. 30. General provisions as to accounts and balance sheets

    3. 30A. Publication of accounts and balance sheets

    4. 31. Obligation to appoint auditors

    5. 32. Audit of exempt societies and branches

    6. 32A. Power of societies to disapply section 31

    7. 33. Re-appointment and removal of auditors

    8. 34. Notice of resolutions relating to appointment and removal of auditors

    9. 35. Proceedings subsequent to receipt of notice under s. 34

    10. 36. Qualified auditors

    11. 37. Restrictions on appointment of auditors

    12. 38. Auditors’ report

    13. 39. Auditors’ right of access to books and to attend and be heard at meetings

    14. 39A. Duty to obtain accountant’s report where section 31 disapplied

    15. 39B. Rights of person appointed under section 39A(2)

    16. 39C.Authority’spower to require accounts of past years to be audited

    17. 40. Remuneration of qualified auditors

  6. Valuations and annual returns

    1. 41. Valuations

    2. 42. Regulations and directions . . . relating to valuations

    3. 43. Annual return

    4. 44. Copies of annual return to be supplied on demand

    5. 45. Copies of balance sheet and valuation to be displayed

  7. Investment, funds and property

    1. 46. Investment of funds

    2. 47. Power to set up funds for purchase of Government securities on behalf of members

    3. 48. Loans to assured members

    4. 49. Loans out of separate loan fund

    5. 50. Loans of surplus funds to registered society or branch of different description

    6. 51. Power of friendly society to invest in housing association

    7. 52. Charitable subscriptions and contributions to other registered societies

    8. 53. Holding of land

    9. 54. Vesting of property in trustees

    10. 55. Power of the Public Trustee to hold securities of certain friendly societies and branches

    11. 56. Legal proceedings concerning property

    12. 57. Discharge of certain mortgages

    13. 57A. Discharge of certain mortgages in Northern Ireland

    14. 58. Devolution of property on death, resignation or removal of trustee

    15. 59. Priority on death, bankruptcy, etc., of officer

  8. Membership and rights of members

    1. 60. Membership of minors

    2. 61. Members’ subscriptions not generally recoverable at law

    3. 62. Inspection of books by members

    4. 63. Accumulation of member’s surplus contributions

    5. 63A.Register of members of registered friendly societies.

  9. Benefits: limitations and payment

    1. 64.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    2. 65.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 65A. Group insurance business

    4. 65B.Terms on which benefits are provided by friendly societies

    5. 66. Power of member to nominate person to receive sums payable on his death

    6. 67. Payment on death of a nominator

    7. 68. Devolution of sums due where no nomination

    8. 69. Validity of payments

    9. 70.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    10. 71.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    11. 72.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    12. 73.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    13. 74.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    14. 75.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  10. Disputes

    1. 76. Decision of disputes generally

    2. 77.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 78. Statement of case and discovery, etc., of documents

    4. 79. Reference of disputes to court otherwise than under rules

    5. 80. Disputes arising out of loans of surplus funds to societies of different description

  11. Change of name, amalgamation and transfer of engagements and conversion of societies

    1. 81. Power to change name

    2. 82. Amalgamation and transfer of engagements

    3. 83.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 84. Conversion of registered societies into companies

    5. 84A. Conversion of registered societies into industrial and provident societies

    6. 85. Conversion of society into branch

    7. 86. Meaning and registration of special resolutions

  12. Winding-up, suspension of business and inspection

    1. 87.Power of Authority to apply for winding-up of registered friendly societies and branches

    2. 88.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    3. 89.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 90. Appointment of inspectors and calling of special meetings

  13. Cancellation and suspension of registration and dissolution

    1. 91. Cancellation and suspension of registration

    2. 92. Appeals against cancellation and suspension of registration

    3. 93. Dissolution of societies and branches

    4. 94. Instrument of dissolution

    5. 95. Dissolution by award

    6. 95A. Dissolution of registered friendly societies and branches by award

    7. 96. Finality of awards for dissolution or distribution of funds

    8. 97. Notice of proceedings or order to set aside dissolution

  14. Offences, penalties and legal proceedings

    1. 98. Offences

    2. 99. Punishment of fraud, etc. and recovery of property misapplied

    3. 100. Falsification of balance sheets, etc

    4. 101. Prosecution of offences, recovery of costs or expenses

    5. 102. Jurisdiction of magistrates’ courts

    6. 103. Legal proceedings concerning registered societies, etc

  15. Miscellaneous

    1. 104A.Fees for inspection or copying of documents

    2. 105. Exemptions from stamp duty

    3. 106.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    4. 107. Provision as to information supplied for purposes of national insurance and social security

    5. 108. Protection for members of registered societies joining the forces

    6. 109.Regulations

    7. 110. Evidence and deposit of documents

  16. General provisions

    1. 111. Interpretation

    2. 112. Isle of Man

    3. 113. Channel Islands

    4. 114. Payments to legal representative in Channel Islands and Isle of Man

    5. 115.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

    6. 116. Amendments, transitory provisions and repeals

    7. 117. Short title, commencement and extent

  17. SCHEDULE 1

  18. SCHEDULE 2

    Matters to be provided for by the Rules of Societies registered under this Act

  19. [SCHEDULE 3

  20. SCHEDULE 4

    Form of Receipt to be Endorsed on Mortgage or Further Charge

  21. [SCHEDULE 5]

  22. Schedule 6

    Provisions Applicable Where Person Assured is Resident Outside the United Kingdom and Isle of Man

  23. SCHEDULE 6A

    CONVERSION OF REGISTERED SOCIETIES INTO INDUSTRIAL AND PROVIDENT SOCIETIES: SUPPLEMENTARY

  24. SCHEDULE 7

    Provisions of Section 107 of this Act to have effect until Coming Into Force of Certain Provisions of the Social Security Act 1973

  25. SCHEDULE 8

  26. SCHEDULE 9

    AMENDMENTS OF OTHER ENACTMENTS

  27. SCHEDULE 10

    Transitory Provisions and Savings

  28. SCHEDULE 11

    ENACTMENTS REPEALED

An Act to consolidate the Friendly Societies Acts 1896 to 1971 and certain other enactments relating to the societies to which those Acts apply with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission.

[31st July 1974]

Annotations:

Modifications etc. (not altering text)

C1Act modified by Finance Act 1984 (c. 43, SIF 63:1), s. 73(7)–(9)

C2Act excluded by S.I. 1987/2132, reg. 65

C3Act excluded by S.I. 1983/408, reg. 4

C4Act restricted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 93(1) (with ss. 7(5) and 93(4)); S.I. 1993/16, art. 2, Sch. 3.

C5Act extended to N.I. (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 96(1) (with ss. 7(5) and 93(4)); S.I. 1993/3226, art. 2, Sch. 2.

C6Act modified (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 124(2), (with ss. 7(5) and 93(4)); S.I. 1993/3226, art. 2, Sch. 2.

C7Act restricted (16.10.1992) by Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52), ss. 10(3)(b), 302.

C8Act applied (16.10.1992) by Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52), ss. 19(2), 302.

C9Act: power to amend conferred (7.2.1994) by 1993 c. 48 s. 162 (with s. 6(8)); S.I. 1994/86 art. 2 (with ss. 6(8), 164)

Act: power to amend conferred (N.I.) (7.2.1994) by 1993 c. 49 s. 158(3); S.R. 1994/17 art. 2 (with Sch. 8 para. 7(2)

Commencement Information

I1Act partly in force at Royal Assent see s. 117(2); Act wholly in force at 1.4.1975.

The Registry of Friendly Societies

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations:

Amendments (Textual)

F1S. 1 repealed (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2(b), 8, 13(1)(2), Sch. 3 Pt. I para. 2, Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations:

Amendments (Textual)

F1S. 2 repealed (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2(b), 8, 13(1)(2), Sch. 3 Pt. I para. 2, Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations:

Amendments (Textual)

F1S. 3 repealed (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2(b), 8, 13(1)(2), Sch. 3 Pt. I para. 2, Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations:

Amendments (Textual)

F1S. 4 repealed (1.12.2001) by 2000 c. 8, ss. 334, 336, 432(3), Sch. 18 Pt. I para. 1, Sch. 22; S.I. 2001/3538, art. 2(1)

F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations:

Amendments (Textual)

F1S. 5 repealed (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2(b), 8, 13(1)(2), Sch. 3 Pt. I para. 2, Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations:

Amendments (Textual)

F1S. 6 repealed (17.8.2001 for certain purposes, otherwise 1.12.2001) by S.I. 2001/2617, arts. 2(b), 8, 13(1)(2), Sch. 3 Pt. I para. 2, Sch. 4 (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)

Registration of societies and branches

7 Societies which may be registered

(1)Subject to subsections (2) and (3) below and also to section 9 below, the following societies [F1may remain] registered under this Act, that is to say,—

(a)societies (in this Act called “friendly societies”) for the purpose of providing by voluntary subscriptions of the members, with or without the aid of donations, for [F2any purpose falling within Schedule 2 to the 1992 Act];

(b)societies (in this Act called “cattle insurance societies”) for the purpose of insurance to any amount against loss of cattle, sheep, lambs, swine, horses, and other animals by death from disease or otherwise;

(c)societies (in this Act called “benevolent societies”) for any benevolent or charitable purpose;

(d)societies (in this Act called “working men’s clubs”) for purposes of social intercourse, mutual helpfulness, mental and moral improvement and rational recreation;

(e)societies (in this Act called “old people’s home societies”) for the purpose of providing homes for the members and others at any age after fifty;

(f)societies (in this Act called “specially authorised societies”) for any purpose which the Treasury may authorise as a purpose to which the provisions of this Act, or such of them as are specified in the authority, ought to be extended [F3but no society may become registered under this Act after the commencement of section 93 of the 1992 Act.]

(2)A society may not be registered under this Act unless—

(a)the rules of the society contain provisions in respect of the several matters mentioned in Part I of Schedule 2 to this Act and, in the case of a friendly society or cattle insurance society, also contain provisions in respect of the several matters mentioned in Part II of that Schedule; and

(b)the place which under the society’s rules is to be the society’s registered office is situated [F4in the United Kingdom, the Channel Islands or the Isle of Man]; and

(c)the society consists of at least seven persons.

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5

(3A). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6

(4)Where any provisions of this Act are specified in an authority given under paragraph (f) of subsection (1) above, those provisions only shall extend to a society which has been registered as a specially authorised society by virtue of that authority.

(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6

Annotations:

Amendments (Textual)

F1Words in s. 7(1) substituted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 95, Sch. 16 para. 4(a) (with ss. 7(5) and 93(4)); S.I. 1993/16, art. 2, Sch. 3.

F2Words in s. 7(1)(a) substituted (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 95, Sch. 16 para. 4(b) (with ss. 7(5), 93(4)); S.I. 1993/2213, art. 2, Sch. 6 (with art. 10).

F3Words in s. 7(1)(f) inserted (1.2.1993) by Friendly Societies Act 1992 (c. 40), s. 95 Sch. 16 para. 4(c) (with ss. 7(5) and 93(4)); S.I. 1993/16, art. 2, Sch. 3.

F4Words in s. 7(2)(b) substituted (1.12.2001) by 2000 c. 8, ss. 334, 336, Sch. 18 Pt. I para. 2; S.I. 2001/3538, art. 2(1)

F5S. 7(3) repealed with saving by Finance Act 1985 (c. 54, SIF 63:1), ss. 41(4), 98(6), Sch. 27 Pt. V Note 5 (and see also Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 29, para. 13

F6S. 7(3A),(5) repealed with saving by Finance Act 1985 (c. 54, SIF 63:1), ss. 41(4), 98(6), Sch. 27 Pt. V Note 5

Modifications etc. (not altering text)

C1S. 7 extended (1.1.1994) by Friendly Societies Act 1992 (c. 40), s. 96(2) (with ss. 7(5) and 93(4)); S.I. 1993/3226, art. 2, Sch. 2. (with arts. 3, 4, 7, 8).

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