- Latest available (Revised)
- Original (As made)
Industrial and Provident Societies (Amendment) (Northern Ireland) Order 1976 is up to date with all changes known to be in force on or before 25 April 2017. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
This section lists the changes and effects yet to be applied to the whole Order, associated Parts and Chapters where applicable. This includes any insertions of whole new Parts, Chapters or provisions yet to be inserted into this Order. These effects are included in this view as they may be (but won’t necessarily be) relevant to the specific provision that you are viewing.
1. This Order may be cited as the Industrial and Provident Societies (Amendment) (Northern Ireland) Order 1976 … Commencement …
2.—(1) The Interpretation Act (Northern Ireland) 1954 [1954 c.33] shall apply to Article 1 and the following provisions of this Order as it applies to a Measure of the Northern Ireland Assembly.
(2) In this Order “the principal Act” means the Industrial and Provident Societies Act (Northern Ireland) 1969 [1969 c.24] .
(3) This Order and the principal Act shall be construed as one and may be cited together as the Industrial and Provident Societies Acts (Northern Ireland) 1969 and 1976.
3.—(1) In section 6(1) of the principal Act for the words “one thousand pounds” (denoting the limit on the interest any one member may hold in the shares of a society registered under that Act) there shall be substituted the words “ five thousand pounds ”.
(2) Where immediately before the coming into force of this Order the registered rules of a registered society permitted members other than members exempt from the limit under the said section 6(1) to hold the maximum of £1,000 then laid down thereby, the committee may, by a resolution recorded in writing, resolve that members may be permitted to hold such greater amount not exceeding £5,000 as may be specified in the resolution, and the registered rules shall have effect accordingly.
(3) The power conferred on the committees of registered societies by paragraph (2) shall not be exercisable after the expiration of the period of eighteen months beginning with the date on which this Order comes into force or after the coming into force of regulations made under Article 4; and if any amendment of the rules of a society is made after the coming into force of this Order and before the expiration of the time allowed by this paragraph for exercising that power the power shall cease to be exercisable by the committee of that society on the date on which the amendment is registered under section 9 of the principal Act.
(4) The committee of a registered society shall not have power to vary or revoke a resolution under paragraph (2) except in so far as it may be authorised to do so by regulations made under Article 4.
(5) Where the committee of a registered society has exercised the power to pass a resolution under paragraph (2) and an amendment to the society's rules is subsequently registered under section 9 of the principal Act the registered rules of the society shall thereupon have effect as if the resolution had not been passed, so, however, that this paragraph shall not affect any interest in the shares of the society held by a member immediately before the date on which the amendment is registered.
4.—(1) The registrar may, with the consent of the Department of Commerce, prescribe by regulations made subject to negative resolution in substitution for the sum for the time being specified in section 6(1) of the principal Act as the limit applicable thereunder such other sum, not being less than £5,000, as he may think fit.
(2) Regulations made under this Article may make any such provision in connection with altering the limit for the time being applicable under the said section 6(1) as is made by Article 3.
Art. 5 rep. by 1985 NI 12
Art. 6 amends s.62 of 1969 c.24 (NI)
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: