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Industrial and Provident Societies Act (Northern Ireland) 1969

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Version Superseded: 06/04/2018

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Point in time view as at 01/07/2006.

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PART IN.I.SOCIETIES WHICH MAY BE REGISTERED

1Societies which may be registered.N.I.

(1)The societies which may be registered under this Act are—

(a)subject to sections 2(1), 7(1) and 78(4), a society for carrying on any industry, business or trade (including dealings of any description with land), whether wholesale or retail, if

(i)it is shown to the satisfaction of the registrar that one of the conditions specified in subsection (2) is fulfilled; and

(ii)the society's rules contain provisions in respect of the matters mentioned in Part I of Schedule 1; and

(iii)the place which under those rules is to be the society's registered office is situate in Northern Ireland;

Para. (b) rep. with saving by 1985 NI 12

(2)The conditions referred to in subsection (1)(a)(i) are—

(a)that the society is a bona fide co-operative society;

[F1(b)that the business of the society is being, or is intended to be, conducted for the benefit of the community.]

(3)In this section, the expression “co-operative society” does not include a society which carries on, or intends to carry on, business with the object of making profits mainly for the payment of interest, dividends or bonuses on money invested or deposited with, or lent to, the society or any other person.

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