Friendly Societies Act 1974
The Registry of Friendly Societies
1 The Registry Office.
2 Terms of office, qualifications and status of Chief and assistant registrars.
3 Salaries and expenses.
4 Registration areas and functions of assistant registrars in those areas.
5 Particular functions of assistant registrar for Scotland.
6 Report of the Chief Registrar and publication of information relating to friendly societies.
Registration of societies and branches
7 Societies which may be registered.
8 Registration of societies.
9 Special provisions as to dividing societies and societies assuring annuities.
10 Societies registered in one registration area carrying on business in another.
11 Additional requirements for registration of societies with branches.
12 Establishment of new branches.
13 Registration of branches as societies.
14 Name of seceding or expelled branch.
15 Acknowledgment of registration.
16 Appeals from refusal to register.
Provisions as to rules
17 Acknowledgment of registration of rules.
18 Registration of amendments of rules of society or branch.
19 Acknowledgment of registration of amendments of rules.
20 Appeals from refusal to register amendment of rule.
21 Duty to supply copies of rules.
22 Rules of certain registered societies to bind members at law.
23 Special provisions which may be included in rules.
Trustees and Officers
24 Trustees of registered societies and branches.
25 Minors not to hold office.
26 Proof of appointment of officers and trustees.
27 Certain officers to give security.
28 Duty of officers of registered societies and branches to account.
Accounts, audit and auditors
29 Books of account, etc.
30 General provisions as to accounts and balance sheets.
30A Publication of accounts and balance sheets.
31 Obligation to appoint auditors.
32 Audit of exempt societies and branches.
32A Power of societies to disapply section 31.
33 Re-appointment and removal of auditors.
34 Notice of resolutions relating to appointment and removal of auditors.
35 Proceedings subsequent to receipt of notice under s. 34.
36 Qualified auditors.
37 Restrictions on appointment of auditors.
38 Auditors’ report.
39 Auditors’ right of access to books and to attend and be heard at meetings.
39A Duty to obtain accountant’s report where section 31 disapplied.
39B Rights of person appointed under section 39A(2).
39C Registrar’s power to require accounts of past years to be audited.
40 Remuneration of qualified auditors.
Valuations and annual returns
41 Valuations.
42 Regulations and directions of Chief Registrar relating to valuations.
43 Annual return.
44 Copies of annual return to be supplied on demand.
45 Copies of balance sheet and valuation to be displayed.
Investment, funds and property
46 Investment of funds.
47 Power to set up funds for purchase of Government securities on behalf of members.
48 Loans to assured members.
49 Loans out of separate loan fund.
50 Loans of surplus funds to registered society or branch of different description.
51 Power of friendly society to invest in housing association.
52 Charitable subscriptions and contributions to other registered societies.
53 Holding of land.
54 Vesting of property in trustees.
55 Power of the Public Trustee to hold securities of certain friendly societies and branches.
56 Legal proceedings concerning property.
57 Discharge of certain mortgages.
57A Discharge of certain mortgages in Northern Ireland.
58 Devolution of property on death, resignation or removal of trustee.
59 Priority on death, bankruptcy, etc., of officer.
Membership and rights of members
60 Membership of minors.
61 Members’ subscriptions not generally recoverable at law.
62 Inspection of books by members.
63 Accumulation of member’s surplus contributions.
63ARegister of members of registered friendly societies.
Benefits: limitations and payment
64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
65 Modification of s. 64 in relation to group insurance business.
65A Group insurance business.
65BTerms on which benefits are provided by friendly societies.
66 Power of member to nominate person to receive sums payable on his death.
67 Payment on death of a nominator.
68 Devolution of sums due where no nomination.
69 Validity of payments.
70 Certificates of death.
71 Prohibition of insuring money to be paid on death of a child under ten.
72 Limitations on insurance of life of parent or grandparent.
73 Supplementary provisions as to insurances referred to in s. 72.
74 Provisions with respect to certain insurances where person assured is resident outside United Kingdom and Isle of Man.
75 Rights of owners of certain endowment policies.
Disputes
76 Decision of disputes generally.
77 Reference by consent, of disputes to Chief or assistant registrar.
78 Statement of case and discovery, etc., of documents.
79 Reference of disputes to court otherwise than under rules.
80 Disputes arising out of loans of surplus funds to societies of different description.
Change of name, amalgamation and transfer of engagements and conversion of societies
81 Power to change name.
82 Amalgamation and transfer of engagements.
83 Objections to amalgamations and transfers of engagements of friendly societies.
84 Conversion of registered societies into companies.
84A Conversion of registered societies into industrial and provident societies.
85 Conversion of society into branch.
86 Meaning and registration of special resolutions.
Inspection, winding up and suspension of business
87 Power of Chief Registrar to inspect and apply for winding up of registered friendly societies and branches.
88 Power of Chief Registrar to suspend business of registered friendly societies and branches.
89 Power of Chief Registrar to require production of documents.
90 Appointment of inspectors and calling of special meetings.
Cancellation and suspension of registration and dissolution
91 Cancellation and suspension of registration.
92 Appeals against cancellation and suspension of registration.
93 Dissolution of societies and branches.
94 Instrument of dissolution.
95 Dissolution by award.
95A Dissolution of registered friendly societies and branches by award.
96 Finality of awards for dissolution or distribution of funds.
97 Notice of proceedings or order to set aside dissolution.
Offences, penalties and legal proceedings
98 Offences.
99 Punishment of fraud, etc. and recovery of property misapplied.
100 Falsification of balance sheets, etc.
101 Prosecution of offences, recovery of costs or expenses.
102 Jurisdiction of magistrates’ courts.
103 Legal proceedings concerning registered societies, etc.
Miscellaneous
104 Fees.
104AFees for inspection or copying of documents.
105 Exemptions from stamp duty.
106 Certificates of births and deaths for purposes of Act.
107 Provision as to information supplied for purposes of national insurance and social security.
108 Protection for members of registered societies joining the forces.
109 Regulations.
110 Evidence and deposit of documents.
General provisions
111 Interpretation.
112 Isle of Man.
113 Channel Islands.
114 Payments to legal representative in Channel Islands and Isle of Man.
115 Reciprocal application of legislation relating to societies registered in Northern Ireland and in other parts of the British Islands.
116 Amendments, transitory provisions and repeals.
117 Short title, commencement and extent.
SCHEDULES
SCHEDULE 1 Purposes for which Friendly Societies may provide
The following are the purposes referred to in section 7(1)(a)...
the relief or maintenance of the members of the society,...
SCHEDULE 2 Matters to be provided for by the Rules of Societies registered under this Act
Part I Provisions Applicable to all Societies
1The name of the society.
2The place which is to be the registered office of...
3(1) Subject to sub-paragraph (2) below, the whole of the...
4The mode of holding meetings and right of voting, and...
5The appointment and removal of a committee of management (by...
6The investment of the funds, the keeping of the accounts...
7Annual returns to the registrar relating to the affairs and...
8The inspection of the books of the society by every...
9The manner in which disputes shall be settled.
10In the case of dividing societies, a provision for meeting...
11(1) For the avoidance of doubt it is hereby declared...
Part II Provisions Applicable to Friendly Societies and Cattle Insurance Societies
12The keeping of proper accounts in accordance with section 29...
13Except with respect to cattle insurance societies, such periodic valuation...
14The voluntary dissolution of the society by consent of three-quarters...
15The right of one-fifth of the total number of members,...
SCHEDULE 3 Forms of Bond for Officers or Registered Societies and Branches
Form applicable in the central registration area
Know all men by these presents, that we, A.B. of...
Whereas the above-burden A.B. has been duly appointed to the...
Sealed and delivered in the presence of
[two witnesses.]
Form applicable in Scotland
I, A.B. of , hereby bind and oblige myself, to...
Dated at this day of
Signature of Cautioner.
E.F. of witness.—
G.H. of witness.
The above bond shall not require a testing clause or...
SCHEDULE 4 Form of Receipt to be Endorsed on Mortgage or Further Charge
The trustees of the .........................................Society [or the .............. branch of...
Signed [Signatures of Trustees]
Trustees
Countersigned [Signature of Secretary]
Secretary
SCHEDULE 5 Death Certificates in connection with Payments referred to in Section 72
1A registered friendly society or a branch of such a...
2On so making payment of any such sum the society...
3Where a registered friendly society or a branch of such...
4Certificates of death for the purposes of this Schedule and...
5(1) Regulations shall be paid by the Registrar General by...
6On production to a registered society or branch of a...
7Any collecting society or branch thereof which contravenes or fails...
8The fee payable on the issue of a certificate of...
9The Statutory Instruments Act 1946 shall apply to a statutory...
10(1) In the application of this Schedule to Scotland, “Registrar-General”...
SCHEDULE 6 Provisions Applicable Where Person Assured is Resident Outside the United Kingdom and Isle of Man
1(1) Notwithstanding anything in Schedule 1 to this Act, a...
2(1) Notwithstanding anything in Schedule 1 to this Act and...
3A registered friendly society or branch thereof shall not in...
4(1) For the purpose of calculating the maximum sum which...
5(1) Notwithstanding anything in section 70 of this Act, a...
6(1) A registrar of deaths shall not give for the...
7A registered friendly society or branch to which is produced...
8Nothing in this Schedule respecting payments on the death of...
9Section 7 of the Industrial Assurance and Friendly Societies Act...
SCHEDULE 6A CONVERSION OF REGISTERED SOCIETIES INTO INDUSTRIAL AND PROVIDENT SOCIETIES: SUPPLEMENTARY
1This Schedule has effect in relation to any registered society...
2(1) On the registration of the society any appointment as...
3Any agreement made, transaction effected or other thing done by,...
4(1) Any agreement made by the society or any branch...
SCHEDULE 7 Provisions of Section 107 of this Act to have effect until Coming Into Force of Certain Provisions of the Social Security Act 1973
107(1) Subject to any exceptions or conditions prescribed by regulations...
SCHEDULE 8
. . . . . . . . . ....
SCHEDULE 9 AMENDMENTS OF OTHER ENACTMENTS
The Friendly Societies Act 1896 (c. 25)
1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The Industrial Assurance Act 1923 (c. 8)
2In section 3 of the Industrial Assurance Act 1923, after...
3In section 8 of the said Act—
4In section 20(1)(b) of the said Act, after the word...
5In section 36 of the said Act—
The Industrial Assurance and Friendly Societies Act 1948 (c. 39)
6In section I of the Industrial Assurance and Friendly Societies...
7In section 2(5) of the said Act, after the words...
8In section 7 of the said Act, after the words...
9In section 10 of the said Act, in subsection (1)...
10(1) In section 11(1) of the said Act—
11In section 12(2) of the said Act, the words “A...
12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13In section 23(1)(a) of the said Act, for the words...
14In Schedule I to the said Act—
15In Schedule 3 to the said Act—
The Friendly Societies Act 1955 (4 & 5 Eliz. 2. c. 19)
16In section 9 of the Friendly Societies Act 1955, in...
17. . . . . . . . . ....
The Industrial and Provident Societies Act 1965 (c. 12)
18In section II of the Industrial and Provident Societies Act...
The Administration of Estates (Small Payments) Act 1965 (c. 32)
19In section 5(1) of the Administration of Estates (Small Payments)...
20In section 6 of the said Act of 1965—
The Public Expenditure and Receipts Act 1968 (c. 14)
21In Schedule 3 to the Public Expenditure and Receipts Act...
The Friendly and Industrial and Provident Societies Act 1968 (c. 55)
22In section 17(2) of the Friendly and Industrial and Provident...
23. . . . . . . . . ....
SCHEDULE 10 Transitory Provisions and Savings
1In so far as any regulation, order, application, nomination or...
2Without prejudice to section 116(1) of, and Schedule 9 to,...
3Where a period of time specified in an enactment repealed...
4A conviction of an offence under an enactment repealed by...
5If the rules of a registered society in force at...
6(1) Any endowment policy issued before 1st January 1924 which...
7If, immediately before the passing of this Act—
8The repeal by this Act of section 2(1) of the...
9. . . . . . . . . ....
10The repeal by this Act of sections 103 and 104...
11Until such time as a form for the purposes is...
12Nothing in section 66 or section 67 of this Act...
13Nothing in this Act shall prejudice any insurance effected before...
14Nothing in this Act shall affect the continued operation, in...
SCHEDULE 11 ENACTMENTS REPEALED

Royal arms

Friendly Societies Act 1974

1974 CHAPTER 46

An Act to consolidate the Friendly Societies Acts 1896 to 1971 and certain other enactments relating to the societies to which those Acts apply with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission.