Friendly Societies Act 1992

The rules U.K.

5 (1) The rules of an incorporated friendly society shall provide for the matters specified in the Table in sub-paragraph (3) below. U.K.

(2) Nothing in this paragraph shall be taken to authorise any provision in the rules of a society which is inconsistent with, or rendered void by, this Act (or any instrument made under it).

(3) The Table referred to in sub-paragraph (1) above is as follows:—

TABLE OF MATTERS TO BE COVERED BY THE RULES

1. The terms of admission of members and the manner in which membership is to cease.

2. If the terms on which a benefit is provided are not in the rules, the manner in which they are to be determined.

3. Any forfeitures which may be imposed on any member.

4. The consequences of non-payment of any subscription.

5. The manner of remunerating the auditors.

6. As respects the officers—

(a) the manner of their election or appointment and their removal;

(b) the manner of remunerating them; and

(c) the circumstances in which pensions may be awarded to persons by virtue of their office and the method of determining the terms of such pensions.

7. The powers and duties of the committee of management.

8. The investment of the funds of the society.

9. The manner in which disputes are to be settled.

10. If the society has a common seal, the form, custody and use of the seal.

11. The calling and holding of meetings and, in particular—

(a) the right to requisition meetings;

(b) the right to move resolutions at meetings;

(c) the manner in which notice of meetings, and of any resolutions to be moved at meetings, is to be given;

(d) the procedure to be observed at meetings;

(e) the form of notice for the convening of a meeting;

(f) the voting rights of members, the right to demand a poll and the manner in which a poll is to be taken.

12. The entitlement of members to participate in the distribution of any surplus assets after payments to creditors, on the winding up, or dissolution by consent, of the society.

13. The procedure for altering the society’s memorandum and rules.

Commencement Information

I1 Sch. 3 para. 5 wholly in force; Sch. 3 para. 5 not in force at Royal Assent see s. 126(2); Sch. 3 para. 5 in force at 1.2.1993 by S.I. 1993/16, art. 2, Sch. 3