Friendly Societies Act 1992

8 (1) A person who becomes or ceases to be–

(a) a controller of a friendly society to which section 37(2) or (3) above applies; or

(b) a 10 per cent. controller, a 20 per cent. controller, a 33 per cent. controller, a 50 per cent. controller or a majority controller of such a society,

shall, before the expiration of the period of seven days beginning with the day next following that on which he does so, notify the society of that fact.

(2) If, after ceasing to be a controller of any description mentioned in sub–paragraph (1) above, a person will still be a controller of the society, his notice under that sub–paragraph shall state the percentage of the voting power which he will (alone or with any associate or associates) hold or be entitled to exercise or control.

(3) A friendly society to which section 37(2) or (3) above applies shall give notice to the central office of the fact that any person has become or ceased to be–

(a) a controller of the society; or

(b) a controller of the society of any description mentioned in sub–paragraph (1) above;

and that notice shall be given before the expiration of the period of one month beginning with the day next following that on which that fact comes to the society’s knowledge.

(4) Any notice under this paragraph shall state–

(a) the person’s full name and address;

(b) the date on which he became, or ceased to be, a controller of the society, or a controller of the society of any description mentioned in sub–paragraph (1) above; and

(c) in the case of a person becoming such a controller, the date of his birth.

(5) Any person who fails to comply with sub–paragraph (1) or (3) above shall be guilty of an offence and liable on summary conviction to a fine not exceeding level 4 on the standard scale.

(6) On receipt of a notice under this paragraph, the central office shall record the name of the person to whom the notice relates and the date on which he became or, as the case may be, ceased to be a controller of any description, in the public file of the society.