Industrial and Provident Societies Act 1965 (repealed)

23 Nomination to property in society. E+W+S

(1) Subject to subsections (2) and (3) of this section, a member of a registered society may, by a written statement signed by him and delivered at or sent to the society’s registered office during his lifetime or made in any book kept at that office, nominate a person or persons to become entitled at his death to the whole, or to such part or respective parts as may be specified in the nomination, of any property in the society (whether in shares, loans or deposits or otherwise) which he may have—

(a) in the case of a nomination made before 1st January 1914, at the date of the nomination; or

(b) in any other case, at the time of his death.

(2) The nomination by a member of a society under the foregoing subsection of a person who is at the date of the nomination an officer or servant of the society shall not be valid unless that person is the husband, wife, father, mother, child, brother, sister, nephew or niece of the nominator.

(3) For the purposes of the disposal of any property which is the subject of a nomination under subsection (1) of this section—

(a) if the nomination was made before 1st January 1914 and at the date of the nomination the amount credited to the nominator in the society’s books exceeded one hundred pounds, the nomination shall not be valid;

(b) if the nomination was made after 31st December 1913 and before 5th August 1954 and at the date of the nominator’s death the amount of his property in the society comprised in the nomination exceeds one hundred pounds, the nomination shall be valid to the extent of one hundred pounds but not further or otherwise;

(c) if the nomination was made after 4th August 1954 and at the date of the nominator’s death the amount of his property in the society comprised in the nomination exceeds [F1 £1,500], the nomination shall be valid to the extent of [F1 £1,500], but not further or otherwise.

(4) A nomination by a member of a society under subsection (1) of this section may be varied or revoked by a subsequent nomination by him thereunder or by any similar document in the nature of a revocation or variation signed by the nominator and delivered at or sent to the society’s registered office during his lifetime, but shall not be revocable or variable by the will of the nominator or by any codicil thereto.

(5) Every registered society shall keep a book in which the names of all persons nominated under subsection (1) of this section and any revocation or variation of any nomination under that subsection shall be recorded.

(6) The marriage of a member of a society shall operate as a revocation of any nomination made by him before the marriage and after 31st December 1913; but if any property of that member has been transferred by an officer of the society in pursuance of that nomination in ignorance of a marriage contracted by the nominator subsequent to the date of the nomination, the receipt of the nominee shall be a valid discharge to the society and the society shall be under no liability to any other person claiming the property.

Textual Amendments

F1 Word substituted by S.I. 1975/1137, art. 3(a)