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Industrial and Provident Societies Act 1965

Status:

This is the original version (as it was originally enacted).

Schedule 1Matters to be Provided for in Society's Rules

1The name of the society, which shall comply with the requirements of section 5 of this Act.

2The objects of the society.

3The place which is to be the registered office of the society to which all communications and notices to the society may be addressed.

4The terms of admission of the members, including any society or company investing funds in the society under the provisions of this Act

5The mode of holding meetings, the scale and right of voting, and the mode of making, altering or rescinding rules.

6The appointment and removal of a committee, by whatever name, and of managers or other officers and their respective powers and remuneration.

7Determination in accordance with section 6 of this Act of the maximum amount of the interest in the shares of the society which may be held by any member otherwise than by virtue of section 6(1)(a), (b) or (c) of this Act.

8Determination whether the society may contract loans or receive moneys on deposit subject to the provisions of this Act from members or others; and, if so, under what conditions, under what security, and to what limits of amount

9Determination whether the shares or any of them shall be transferable, and provision for the form of transfer and registration of the shares, and for the consent of the committee thereto; determination whether the shares or any of them shall be withdrawable, and provision for the mode of withdrawal and for payment of the balance due thereon on withdrawing from the society.

10Provision for the audit of accounts by one or more approved auditors.

11Determination whether and, if so, how members may withdraw from the society, and provision for the claims of the representatives of deceased members, or the trustees of the property of bankrupt members or, in Scotland, members whose estate has been sequestrated, and for the payment of nominees.

12The mode of application of profits of the society.

13Provision for the custody and use of the society's seal.

14Determination whether and, if so, by what authority, and in what manner, any part of the society's funds may be invested.

Schedule 2Form of Statement by Society Carrying on Banking

1Capital of the society:—

(a)nominal amount of each share;

(b)number of shares issued;

(c)amount paid up on shares.

2Liabilities of the society on 1st January or 1st July last previous:—

(a)on judgments;

(b)on specialty;

(c)on notes or bills;

(d)on simple contract;

(e)on estimated liabilities.

3Assets of the society on the same date :—

(a)government securities (stating them);

(b)bills of exchange and promissory notes;

(c)cash at the bankers;

(d)other securities.

Schedule 3Form of Receipt on Mortgage, Heritable Security, Etc

Part I

Forms applicable in England and Wales

Form A The __________Limited hereby acknowledges to have received all moneys intended to be secured by the [within (or above) written] [annexed] deed [and by a further charge dated, etc., or otherwise as required]. Dated this day of ______Members of the Committee. _______Secretary. Form B The _________Limited hereby acknowledges that it has this day of __________ received the sum of ________ pounds representing all moneys intended to be secured by the [within (or above) written] [annexed] deed [and by a further charge dated, etc. or otherwise as required], the payment having been made by CD. of _________and E.F. of___________ Members of the Committee Secretary Note. If the persons paying are not entitled to the equity of redemption but are paying the money out of a fund applicable to the discharge of the mortgage or other assurance, insert a statement to that effect A statement may also be inserted as to whether the receipt is or is not to operate as a transfer of the benefit of the mortgage or other assurance.

Part II

Forms applicable in Scotland

Form C The ________Limited acknowledges that (1) the foregoing disposition granted by A (with consent) in favour of the said society dated________ and recorded in the Division of the General Register of Sasines for___________ on __________was granted in security only of a loan of _________pounds made by the said society to the said _________ and (2) the said society have received repayment of all moneys secured by the said disposition. Signed at _______on the day of__________ Members of the Committee. Secretary. Form D The _________Limited acknowledges to have received repayment of all moneys secured by the foregoing bond and disposition in security [bond and assignation in security] [bond and such other deed of heritable security as may have been agreed] granted by A in the said society's favour dated_________ and recorded in the Division of the General Register of Sasines for on Signed at _______this________ day of Members of the Committee. Secretary. Form E The__________ Limited hereby acknowledges to have received repayment of all moneys secured by the foregoing [describe deed] by A in the said society's favour. Signed at_________ on the __________day of Members of the Committee. Secretary.

Schedule 4Forms of Bond for Officers of Society

Part I

Forms applicable in England, Wales and the Channel Islands

Form A Know all men by these presents, that we, A.B., of one of the officers of the _______Limited, herein-after referred to as " the Society," whose registered office is at in the county of_________ , and CD., of (as surety on behalf of the said A.B.), are jointly and severally held and firmly bound to the said society in the sum of_________ to be paid to the said society, or its certain attorney, for which payment well and truly to be made we jointly and severally bind ourselves, and each of us by himself, our and each of our heirs, executors, and administrators, firmly by these presents. Sealed with our seals. Dated the______ day of_________ Whereas the above-bounden A.B. has been duly appointed to the office of _________of the ________Society, and he, together with the above-bounden CD. as his surety, have entered into the above-written bond, subject to the condition herein-after contained : Now therefore the condition of the above-written bond is such, that if the said A.B. do render a just and true account of all moneys received and paid by him on account of the society, at such times as the rules thereof appoint, and do pay over all the moneys remaining in his hands, and assign and transfer or deliver all property (including books and papers) belonging to the society in his hands or custody to such person or persons as the society or the committee thereof appoint, according to the rules of the society, together with the proper and legal receipts or vouchers for such payments, then the above-written bond shall be void, but otherwise shall remain in full force. Sealed and delivered in the presence of Form B Know all men by these presents that I _________of _________, in the county of________ , am firmly bound To__________ Limited, herein-after referred to as " the Society," whose registered office is at_________, in the county of_________ in the sum of _______pounds sterling to be paid to the said society or its assigns, for which payment to be truly made to the said society or its certain attorney or assigns I bind myself, my heirs, executors, and administrators, by these presents sealed with my seal. [And know further that I [we] ________as surety [sureties] for the above-named principal obligor and such obligor are jointly and severally bound to the society in the sum aforesaid to be paid to the society or its assigns, for which payment to be truly made to the society or its certain attorney or assigns we firmly bind ourselves and each of us and each of our heirs, executors, and administrators by these presents sealed with our seals.] Dated the_________ day of________ The condition of the above-contained bond is that if the said________ faithfully execute the office of _________to the society during such time as he continues to hold the same in virtue either of his present appointment, or of any renewal thereof if such office is of a renewable character [without wasting, embezzling, losing, misspending, misapplying, or unlawfully making away with any of the moneys, goods, chattels, wares, merchandise or effects whatsoever of the said society at any time committed to his charge, custody, or keeping by reason or means of his said office], and render a true and full account of all moneys received or paid by him on its behalf as and when he is required by the committee of the society for the time being, and pay over all the moneys remaining in his hands from time to time, and assign, transfer, and deliver up all securities, books, papers, property, and effects whatsoever of or belonging to the society in his charge, custody, or keeping, to such person or persons as the said committee may appoint, according to the rules or regulations of the society' for the time being, together with the proper or legal receipts or vouchers for such payments; and in all other respects well and faithfully perform and fulfil the said office of________to the society according to the rules thereof, then the above-contained bond shall be void and of no effect; but otherwise shall remain in full force. Sealed and delivered by the above-named [The words between brackets against which we have set out initials being first struck out(1)in the presence of us and

Part IIForm applicable in Scotland Form C

I, A.B.,___________ of , hereby bind and oblige myself to the extent of £ as cautioner for CD., a person employed by the society, that he, the said CD., shall on demand faithfully and truly account for all moneys received and paid to him for behoof of the said society, and also assign and transfer or deliver all property (including books and papers) belonging to the said society in his hands or custody, and that to such person or persons as the said society or the committee thereof appoint, according to the rules of the said society. Signed at _________this __________day of_________

______________________Signature of cautioner

_________________________________E.F., witness

_________________________________G.H., witness

Schedule 5REPEALS

ChapterShort TitleExtent of Repeal
56 & 57 Via. c. 39.The Industrial and Provident Societies Act 1893.The whole Act.
57 & 58 Vict, c. 8.The Industrial and Provident Societies Act 1894.The whole Act.
58 & 59 Vict, c. 30.The Industrial and Provident Societies (Amendment) Act 1895.The whole Act.
3 & 4 Geo. 5. c. 31.The Industrial and Provident Societies (Amendment) Act 1913.The whole Act.
15 & 16 Geo. 5. c. 20.The Law of Property Act 1925.In section 115(9), the words " industrial or provident ".
18 & 19 Geo. 5. c.4.The Industrial and Provident Societies (Amendment) Act 1928.The whole Act.
3 & 4 Geo. 6. c. 19.The Societies (Miscellaneous Provisions) Act 1940.

In section 8(1), the words from "or any "to" 1928 ".

In section 10(1), in the definition of "society", the words from " any society registered " to " 1928 ".

11 & 12 Geo. 6. c. 39.The Industrial Assurance and Friendly Societies Act 1948.

Section 18(3)(d).

In section 19(5), the words

from " or in any of the " to

the end of paragraph (c). In section 20(1), the words

from "and of "to" 1893 "

and paragraph (c). In section 20(2), the words

from " or under" to

" 1893 ". In section 21, the words

from "and of "to" 1893 ".

14 Geo. 6. c. 34The Housing (Scotland) Act 1950.Section 79(2), from "and, notwithstanding " onwards.
15 & 16 Geo. 6. & 1 Eliz. 2. c. 17.The Industrial and Provident Societies Act 1952.The whole Act.
2 & 3 Eliz. 2. c. 43.The Industrial and Provident Societies (Amendment) Act 1954.The whole Act.
5 & 6 Eliz. 2. c. 56.The Housing Act 1957.Section 119(4).
6 & 7 Eliz. 2. c. 45.The Prevention of Fraud (Investments) Act 1958.Section 10.
7 & 8 Eliz. 2. c. 72.The Mental Health Act 1959.So much of Schedule 5 as relates to the Industrial and Provident Societies Act 1893.
9 & 10 Eliz. 2. c. 28.The Industrial and Provident Societies Act 1961.The whole Act.
(1)

If no words are struck out in the bond or condition, strike out these words and let the witnesses set their initials in the margin.

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