SCHEDULES

SCHEDULE 4 Incorporation of Registered Friendly Societies: Supplementary

Consequences of transfer

12

1

The action mentioned in the following provisions of this paragraph shall be taken not later than the end of the period of 90 days beginning with the day on which the registered society is incorporated.

2

The persons who were the trustees and treasurer of the registered society immediately before its incorporation shall deliver to the incorporated society—

a

any property of the society held by them; and

b

any documents relating to the property, rights and liabilities of the registered society or its financial affairs.

3

The persons who were the trustees and treasurer of any branch of the registered society immediately before its incorporation shall deliver to the incorporated society—

a

any property (formerly property of the branch) which is transferred to the society by section 6(4) above; and

b

any documents relating to such of the property, rights or liabilities of the branch as are so transferred.

4

The Public Trustee shall, if he held property on trust for the registered society immediately before its incorporation, deliver to the incorporated society any property so held by him and any documents relating to it.

5

Nothing in this Act shall have effect to relieve the former trustees or treasurer of a registered friendly society or branch or the Public Trustee from any liability arising from acts or omissions before the incorporation of the society.