Industrial and Provident Societies Act (Northern Ireland) 1969

67 Instrument of dissolution. N.I.

(1) The following provisions of this section shall have effect where a society is to be dissolved by an instrument of dissolution under [F1 section 64(1)(b)].

(2) The instrument of dissolution shall set forth—

(a) the liabilities and assets of the society in detail;

(b) the number of the members and the nature of their respective interests in the society;

(c) the claims of creditors, if any, and the provision to be made for their payment; and

(d) unless stated in the instrument of dissolution to be left to the award of the registrar, the intended appropriation or division of the funds and property of the society.

(3) Alterations in the instrument of dissolution may be made by the consent of not less than three-fourths of the members of the society testified by their signatures to the alteration.

(4) The instrument of dissolution shall be sent to the registrar accompanied by a statutory declaration made by three members and the secretary of the society that all relevant provisions of this Act have been complied with; and any person knowingly making a false or fraudulent declaration in the matter shall be guilty of an offence and liable to the penalties provided by [F2 Article 10 of the Perjury (Northern Ireland) Order 1979 [1979 NI 19] ].

(5) The instrument of dissolution and any alterations thereto shall be registered in like manner as an amendment of the rules of the society and shall be binding upon all the members of the society, but shall not be so registered until the registrar has received such a final return from the society as is referred to in section 48(5).

(6) The registrar shall cause notice of the dissolution to be advertised at the expense of the society in the Belfast Gazette and in any other manner which the registrar considers necessary for bringing such notice to the attention of persons affected thereby; and unless—

(a) within three months from the date of the Belfast Gazette in which that advertisement appears a member or other person interested in or having any claim on the funds of the society commences in the county court for the district where the registered office of the society is situate proceedings to set aside the dissolution of the society; and

(b) that dissolution is set aside accordingly,

then, subject to subsection (7), the society shall be legally dissolved from the date of the advertisement and the requisite consents to the instrument of dissolution shall be deemed to have been duly obtained without proof of the signatures thereto.

(7) If the certificate referred to in section 68(1) has not been lodged with the registrar by the date of the advertisement referred to in subsection (6) of this section, the society shall be legally dissolved only from the date when that certificate is so lodged.

(8) Notice of any proceedings to set aside the dissolution of a society shall be sent to the registrar by the person taking those proceedings not later than seven days after they are commenced or not later than the expiration of the period of three months referred to in subsection (6), whichever is the earlier; and notice of any order setting the dissolution aside shall be sent by the society to the registrar within seven days after the making of the order.

(9) In the application of this section to a society which for the time being consists solely of two registered societies, the reference in subsection (4) to three members shall be construed as a reference to both members.

Annotations:

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F1 Words in s. 67(1) substituted (1.10.2009) Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 21(10) (with art. 10)

F2 1979 NI 19