SCHEDULES

SCHEDULE 15 Amalgamations, Transfers of Engagements and Conversion: Supplementary

Part II Confirmation by Commission

Effect of failure to comply with relevant requirements

17

A failure to comply with a relevant requirement of this Act or any rules of a friendly society shall not invalidate any amalgamation, transfer of engagements or conversion; but a society which—

a

participates in an amalgamation or transfer or converts into a company; and

b

fails without reasonable excuse to comply with such a requirement;

shall be guilty of an offence and liable on summary conviction to a fine not exceeding level 4 on the standard scale.