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Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Industrial and Provident
Societies Act 1965
1965 CHAPTER 12
An Act to consolidate certain enactments relating to industrial and provident societies,
being those enactments as they apply in Great Britain and the Channel Islands with
corrections and improvements made under the Consolidation of Enactments (Procedure)
Act 1949. [2nd June 1965] Annotations:
Extent Information
E1 By s. 78 (2) it is provided that this Act extends to the Channel Islands but does not extend to Northern
Ireland.
Modifications etc. (not altering text)
C1 Act modified (19.12.1993) by S.I. 1993/3245 , reg. 7 , Sch.
C2 Act extended with modifications by Credit Unions Act 1979 (c. 34, SIF 55:3) , ss. 1–4 , 6, 9, 18, 20–23 ,
31, 32
C3 Act modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(3)
C4 Power to modify the Act conferred by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 32(2) (c)
C5 Act applied by Housing Associations Act 1985 (c. 69, SIF 61) , s. 19(4)
C6 Act excluded by Housing Associations Act 1985 (c. 69, SIF 61) , s. 23(1)
C7 Act amended (1.2.1993) by Friendly Societies Act 1974 (c. 46) , s. 84A(1)(2)(5) (as inserted (1.2.1993)
by Friendly Societies Act 1992 (c. 40) , s. 95 , Sch. 16 para.32 (with ss. 7(5) , 93(4) ); S.I. 1993/16 , art. 2 ,
Sch.3 ; Expressed to be brought into force (13.9.1993) for all remaining purposes by S.I. 1993/2213 , art
2(1), Sch.2
C8 Act restricted (16.10.1992) by Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52) , ss.
10(3)(b) , 302 .
C9 Act applied (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 9(5) (with s. 51(4) ); S.I. 1996/2402 , art.
3
Act applied (S.) (1.11.2001) by 2001 asp 10 , s. 63 , Sch. 7 para. 7(5) ; S.S.I. 2001/336 , art. 2(3) , Sch. Pt.
II (subject to transitional provisions and savings in art. 3 )
Act excluded (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 15(2) (with s. 51(4) ); S.I. 1996/2402 ,
art. 3

2 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Act excluded (S.) (1.11.2001) by 2001 asp 10 , s. 63 , Sch. 7 para. 12(3) ; S.S.I. 2001/336 , art. 2(3) , Sch.
Pt. II (subject to transitional provisions and savings in art. 3 )
C10 Act: power to transfer functions conferred (25.2.2001) by 2000 c. 8 , ss. 338(1)(a) , 339 ; S.I. 2001/516 ,
art. 2 , Sch. Pt. I
Act: power to amend, except for specified provisions, conferred (8.9.2002) by 2002 c. 20 , ss. 2(2) , 4(2)
Commencement Information
I1 Act not in force at Royal Assent see s. 78(3) ; Act wholly in force at 1.1.1966.
Annotations:
Extent Information
E1 By s. 78 (2) it is provided that this Act extends to the Channel Islands but does not extend to Northern
Ireland.
Modifications etc. (not altering text)
C1 Act modified (19.12.1993) by S.I. 1993/3245 , reg. 7 , Sch.
C2 Act extended with modifications by Credit Unions Act 1979 (c. 34, SIF 55:3) , ss. 1–4 , 6, 9, 18, 20–23 ,
31, 32
C3 Act modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(3)
C4 Power to modify the Act conferred by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 32(2) (c)
C5 Act applied by Housing Associations Act 1985 (c. 69, SIF 61) , s. 19(4)
C6 Act excluded by Housing Associations Act 1985 (c. 69, SIF 61) , s. 23(1)
C7 Act amended (1.2.1993) by Friendly Societies Act 1974 (c. 46) , s. 84A(1)(2)(5) (as inserted (1.2.1993)
by Friendly Societies Act 1992 (c. 40) , s. 95 , Sch. 16 para.32 (with ss. 7(5) , 93(4) ); S.I. 1993/16 , art. 2 ,
Sch.3 ; Expressed to be brought into force (13.9.1993) for all remaining purposes by S.I. 1993/2213 , art
2(1), Sch.2
C8 Act restricted (16.10.1992) by Trade Union and Labour Relations (Consolidation) Act 1992 (c. 52) , ss.
10(3)(b) , 302 .
C9 Act applied (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 9(5) (with s. 51(4) ); S.I. 1996/2402 , art.
3
Act applied (S.) (1.11.2001) by 2001 asp 10 , s. 63 , Sch. 7 para. 7(5) ; S.S.I. 2001/336 , art. 2(3) , Sch. Pt.
II (subject to transitional provisions and savings in art. 3 )
Act excluded (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 15(2) (with s. 51(4) ); S.I. 1996/2402 ,
art. 3
Act excluded (S.) (1.11.2001) by 2001 asp 10 , s. 63 , Sch. 7 para. 12(3) ; S.S.I. 2001/336 , art. 2(3) , Sch.
Pt. II (subject to transitional provisions and savings in art. 3 )
C10 Act: power to transfer functions conferred (25.2.2001) by 2000 c. 8 , ss. 338(1)(a) , 339 ; S.I. 2001/516 ,
art. 2 , Sch. Pt. I
Act: power to amend, except for specified provisions, conferred (8.9.2002) by 2002 c. 20 , ss. 2(2) , 4(2)
Commencement Information
I1 Act not in force at Royal Assent see s. 78(3) ; Act wholly in force at 1.1.1966.
Registered societies
1 Societies which may be registered.
(1) Subject to sections 2(1) and 7(1) of this Act, a society for carrying on any industry,
business or trade (including dealings of any description with land), whether wholesale
or retail, may be registered under this Act if—

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 3 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(a) it is shown to the satisfaction of [F1the Authority ] that one of the conditions
specified in subsection (2) of this section is fulfilled; and
(b) the society’s rules contain provision in respect of the matters mentioned in
Schedule 1 to this Act; and
(c) the place which under those rules is to be the society’s registered office is
situated in Great Britain or the Channel Islands.
(2) The conditions referred to in subsection (1)( a) of this section are—
(a) that the society is a bona fide co-operative society; or
(b) that, in view of the fact that the business of the society is being, or is intended to
be, conducted for the benefit of the community, there are special reasons why
the society should be registered under this Act rather than as a company under
the [F2Companies Act 1985 ].
(3) In this section, the expression “co-operative society” does not include a society which
carries on, or intends to carry on, business with the object of making profits mainly for
the payment of interest, dividends or bonuses on money invested or deposited with, or
lent to, the society or any other person.
Annotations:
Amendments (Textual)
F1 Words in s. 1(1)(a) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F2 Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27) , s.
30, Sch. 2
Modifications etc. (not altering text)
C11 S. 1 , Sch. 1 excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(1)
2 Registration of society.
(1) Subject to subsection (2) of this section—
(a) no society shall be registered under this Act if the number of the members
thereof is less than [F3three ]; and
(b) an application for the registration of a society under this Act shall be signed by
[F3three ] members and the secretary of the society and shall be sent with two
printed copies of the society’s rules to [F4the Authority ].
(2) A society whose members consist solely of two or more registered societies may be
registered under this Act if the application for registration is signed by F5. . . the secretary
of each [F6(or, if more than two, of each of any two) ] of the constituent societies and is
accompanied by two printed copies . . . of the rules of the society sought to be registered.
(3) On being satisfied that a society has complied with the provisions of this Act as to
registration thereunder, [F4the Authority ] shall issue to the society an acknowledgment
of registration [F7bearing the Authority’s seal ] Annotations:
Amendments (Textual)
F3 S. 2(1)(a)(b) word substituted (1.9.1996) by S.I. 1996/1738 , arts. 1 , 3(1)

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F4 Words in s. 2(1)(b)(3) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F5 S. 2(2) words repealed (1.9.1996) by S.I. 1996/1738 , arts. 1 , 4(1)(a)(c)
F6 S. 2(2) words substituted (1.9.1996) by S.I. 1996/1738 , arts. 1 , 4(1)(b)
F7 Words in s. 2(3) substituted (1.12.2001) by S.I. 2001/3649 , arts. 1 , 181(2)
Modifications etc. (not altering text)
C12 S. 2(1) modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 6(1) (a)
C13 S. 2(3) modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(2)
3 Registration to effect incorporation of society with limited liability.
A registered society shall by virtue of its registration be a body corporate by its
registered name, by which it may sue and be sued, with perpetual succession and a
common seal and with limited liability; and that registration shall vest in the society
all property for the time being vested in any person in trust for the society, and all
legal proceedings pending by or against the trustees of the society may be brought or
continued by or against the society in its registered name.
Annotations:
Modifications etc. (not altering text)
C14 Ss. 3 , 16(7) excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(5)
4 Existing societies deemed to be registered.
Any society which at the date immediately before the commencement of this Act was
registered or deemed to be registered under the M1Industrial and Provident Societies
Act 1893 (hereafter in this Act referred to as “the Act of 1893”), being a society whose
registered office was at that date in Great Britain or the Channel Islands, shall be deemed
to be registered under this Act; and—
(a) any acknowledgment of registry of that society issued by virtue of section 5(4),
6 or 7(2) of the Act of 1893 shall be deemed to be an acknowledgment of the
registration under this Act of that society and, by virtue of section 9 of this Act,
of the rules of the society in force at the date of the acknowledgment;
(b) any acknowledgment of registry of an amendment of the society’s rules issued
by virtue of section 7(2) or 10(3) of the Act of 1893 shall be deemed to be an
acknowledgment of the registration of that amendment under this Act;
(c) any change of the society’s name duly made before the date of commencement
of this Act in accordance with section 52 of the Act of 1893 as in force at the
time of the change, and any change in the situation of the society’s registered
office of which notice was duly given before that date under section 11 of
that Act, shall be deemed for the purposes of this Act to be a duly registered
amendment of the society’s rules;
(d) any rules of that society which, having been made before 1st January 1894,
continued in force immediately before the commencement of this Act by virtue
of section 3 of the Act of 1893 shall be deemed to be registered under this Act.

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Annotations:
Marginal Citations
M1 1893 c. 39 .
Name and maximum shareholding
5 Name of society.
(1) No society shall be registered under this Act under a name which in the opinion of [F8the
Authority ] is undesirable.
(2) Subject to subsection (5) of this section, [F9the last word in the name of every society
registered under this Act shall be “limited” or, if the rules of the society state that its
registered office is to be in Wales, either that word or the word “cyfyngedig” ].
(3) A registered society may change its name in the following manner and in that manner
only, that is to say—
(a) by a resolution for the purpose passed at a general meeting of the society after
the giving of such notice as is required by the rules of the society of such a
resolution or, if the rules do not make special provision as to notice of such
a resolution, after the giving of such notice as is required by the rules of a
resolution to amend the rules; and
(b) with the approval in writing [F10 of the Authority ] (4) No change in the name of a registered society shall affect any right or obligation of the
society, or of any member thereof, and any pending legal proceedings may be continued
by or against the society notwithstanding its new name.
(5) If [F8the authority ]is satisfied that the objects of a society applying for registration under
this Act or of a registered society are wholly charitable or benevolent, [F11 the Authority ] may register the society by a name which does not contain the word “limited” [F12 or
the word “cyfyngedig” ]or, as the case may be, permit the society to change its name
to one which does not contain [F13 either of those words ]; but if it subsequently appears
to [F8the Authority ] that the society, whether in consequence of a change in its rules or
otherwise, is not being conducted wholly for charitable or benevolent objects, [F11 the
Authority ] may direct that the word “limited” [F12 , or in an appropriate case the word
“cyfyngedig”, ]be added as the last word in the name of the society and shall notify the
society accordingly.
(6) Every registered society shall cause its registered name to be painted or affixed, and to
be kept painted or affixed, in a conspicuous position and in letters easily legible, on the
outside of its registered office and every other office or place in which the business of
the society is carried on, and shall have that name engraven in legible characters on its
seal and mentioned in legible characters—
(a) in all notices, advertisements and other official publications of the society;
(b) in all business letters of the society;
(c) in all bills of exchange, promissory notes, endorsements, cheques, and orders
for money or goods, purporting to be signed by or on behalf of the society;
(d) in all bills, invoices, receipts, and letters of credit of the society.

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(7) Any officer of a registered society, or any other person acting on such a society’s behalf,
who—
(a) uses any seal purporting to be a seal of the society which does not have the
society’s registered name engraven on it in legible characters; or
(b) issues or authorises the issue of any document such as is mentioned in
subsection (6)( a) or ( d) of this section in which that name is not mentioned in
legible characters; or
(c) signs or authorises to be signed on behalf of the society any document such as
is mentioned in subsection (6)( c) of this section in which that name is not so
mentioned,
shall be liable on summary conviction to a fine not exceeding [F14 level 3 on the standard
scale ] and, in the case of a conviction by virtue of paragraph ( c) of this subsection, shall
further be personally liable to the holder of any such document as is referred to in that
paragraph for the amount specified in the document unless that amount is duly paid by
the society.
Annotations:
Amendments (Textual)
F8 Words in s. 5(1)(5) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F9 Words in s. 5(2) substituted (21.12.1993) by 1993 c. 38 , ss. 28(2) , 36(1)
F10 Words in s. 5(3)(b) substituted (1.12.2001) for subparagraphs (i)(ii) by S.I. 2001/2617 , arts. 2(b) , 13(1) ,
Sch. 3 Pt. III para. 216(a) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F11 Word in s. 5(5) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 216(b)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F12 Words in s. 5(5) inserted (21.12.1993) by 1993 c. 38 , ss. 28(3)(a)(c) , 36(1)
F13 Words in s. 5(5) substituted (21.12.1993) by 1993 c. 38 , ss. 28(3)(b) , 36(1)
F14 Words substituted (E.W.S.) by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , ss. 38 , 46
and (S.) Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , ss. 289F , 289G
Modifications etc. (not altering text)
C15 S. 5(5) amended by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 3(4)
6 Maximum shareholding in society.
(1) Where a society is, or is to be, registered under this Act, no member thereof other than—
(a) a registered society; or
(b) an authority who acquired the holding by virtue of [F15 section [F16 58 ]or 59(2) of
the Housing Associations Act 1985 [F17 or section 22 of the Housing Act 1996 ]] ;or
(c) a member who acquired the holding by virtue of paragraph 2 of Part I of the
Schedule to the M2Agricultural Credits Act 1923 at a time when section 2 of
that Act applied to the society,
shall have or claim any interest in the shares of the society exceeding [F18 twenty
thousand pounds ] .
(2) Where in the case of a society to which section 4 of this Act applies—

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(a) immediately before 27th April 1952 the rules of the society provided for the
maximum amount of the interest in the shares of the society permitted to be held
by a member (other than a registered society) to be two hundred pounds; and
(b) no amendment of the rules of the society has been registered since that date; and
(c) on or after that date and before 22nd July 1961 the society’s committee has by
a resolution recorded in writing resolved that the said maximum amount shall
be a specified amount greater than two hundred pounds but not greater than
five hundred pounds,
then, subject to subsection (4) of this section, the registered rules of the society shall
have effect subject to that resolution.
(3) Where in the case of a society to which section 4 of this Act applies—
(a) immediately before 22nd July 1961 the rules of the society provided for the
maximum amount aforesaid to be five hundred pounds; and
(b) no amendment of the society’s rules has been registered since that date; and
(c) on or after that date and before 22nd January 1963 the society’s committee has
by a resolution recorded in writing resolved that the said maximum amount
shall be a specified amount greater than five hundred pounds but not greater
than one thousand pounds,
then, subject to subsection (4) of this section, the registered rules of the society shall
have effect subject to that resolution.
(4) Where subsection (2) or (3) of this section applies to any society, the society’s committee
shall not have power to vary or revoke the resolution referred to in that subsection; but
upon the registration after the commencement of this Act under section 10 thereof of
any amendment of the society’s rules the registered rules of the society shall have effect
as if the resolution had not been passed, so, however, that this subsection shall not affect
any interest in the shares of the society held by a member immediately before the date
of that registration.
Annotations:
Amendments (Textual)
F15 Words substituted by Housing (Consequential Provisions) Act 1985 (c. 71, SIF 61) , s. 4 , Sch. 2 para. 8
F16 S. 6(1)(b) words substituted (1.4.1997) by S.I. 1997/627 , arts. 1 , 2, Sch. para. 1
F17 S. 6(1)(b) words inserted (1.4.1997) by S.I. 1997/627 , arts. 1 , 2, Sch. para. 1
F18 S. 6(1) words substituted (15.3.1994) by S.I. 1994/341 , arts. 1 , 3
Modifications etc. (not altering text)
C16 Power to amend s. 6(1) conferred by Industrial and Provident Societies Act 1975 (c. 41) , s. 2(1)
Marginal Citations
M2 1923 c. 34 .
Operations of registered society
7 Carrying on of banking by societies.
(1) A society which has any withdrawable share capital—
(a) shall not be registered with the object of carrying on, and

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(b) if a registered society shall not carry on,
the business of banking.
(2) Every registered society which carries on the business of banking shall on the first
Monday in February and August in each year make out, and until the next such Monday
keep hung up in a conspicuous position in its registered office and in every other office
or place of business belonging to the society where the business of banking is carried
on, a statement in the form set out in Schedule 2 to this Act or as near thereto as the
circumstances admit.
(3) The taking of deposits of not more than [F19 four hundred pounds ] in any one payment
and not more than [F19 four hundred pounds ] for any one depositor, payable on not less
than two clear days’ notice, shall not be treated for the purposes of subsections (1) and
(2) of this section as carrying on the business of banking; but no society which takes
such deposits shall make any payment of withdrawable capital while any payment due
on account of any such deposit is unsatisfied.
(4) Where, in the case of a society to which section 4 of this Act applies, being a society
registered under the Act of 1893 before 27th April 1952—
(a) no amendment of the society’s registered rules has been registered since that
date; and
(b) those rules permit the taking of deposits up to, but not in excess of, ten shillings
in any one payment and twenty pounds for any one depositor; and
(c) the society’s committee has since that date by a resolution recorded in writing,
whether passed before or after the commencement of this Act, resolved that
there shall be substituted for the said limits of ten shillings and twenty pounds
specified higher limits not exceeding two pounds and fifty pounds respectively,
then, subject to subsection (5) of this section, the society’s registered rules shall have
effect subject to that resolution.
(5) Where subsection (4) of this section applies to any society, the society’s committee shall
not have power to vary or revoke any resolution such as is mentioned in paragraph ( c)
of that subsection; but upon the registration after the commencement of this Act under
section 10 thereof of any amendment of the rules of the society—
(a) the registered rules of the society shall have effect as if any such resolution had
not been passed; and
(b) if not already exercised, the power of the society’s committee to pass such a
resolution shall determine,
so, however, that paragraph ( a) of this subsection shall not affect any sums standing
deposited with the society immediately before the date of registration of the amendment.
(6) Any registered society which—
(a) carries on the business of banking in contravention of subsection (1) of this
section; or
(b) fails to comply with subsection (2) of this section; or
(c) makes any payment of withdrawable capital in contravention of subsection (3)
of this section,
shall be liable on summary conviction to a fine not exceeding [F20 level 1 on the standard
scale ].

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 9 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Annotations:
Amendments (Textual)
F19 Words substituted by S.I. 1981/394 , art. 3
F20 Words substituted by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , s. 46 and (S.)
Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , s. 289G
Modifications etc. (not altering text)
C17 Power to amend s. 7(3) conferred by Industrial and Provident Societies Act 1978 (c. 34) , s. 2
C18 S. 7(3) excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 9(1)
F21 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:
Amendments (Textual)
F21 S. 8 repealed (1.12.2001) by 2000 c. 8 , ss. 338(3) , 432(3) Sch. 18 Pt. IV para. 19, Sch. 22; S.I.
2001/3538 , art. 2(1)
Provisions as to rules
9 Acknowledgment of registration of rules.
Without prejudice to section 53(3) of this Act, an acknowledgment of the registration of
a society issued under section 2(3) of this Act shall also constitute an acknowledgment,
and be conclusive evidence, of the registration under this Act of the rules of that society
in force at the date of the society’s registration.
10 Amendment of registered rules.
(1) Subject to subsection (2) of this section, any amendment of a society’s rules as for the
time being registered under this Act shall not be valid until the amendment has been
so registered, for which purpose there shall be sent to [F22 the Authority ] two copies of
the amendment signed—
(a) in the case of a society for the time being consisting solely of registered
societies, by the secretary of the society and by F23 . . . the secretary of each [F24
(or, if more than two, of each of any two) ] of the constituent societies;
(b) in any other case, by three members and the secretary of the society.
(2) The foregoing subsection shall not apply to a change in the situation of a society’s
registered office or in the name of a society; but—
(a) notice of any change in the situation of a society’s registered office shall be sent
to [F22 the Authority ]; and
(b) where such a notice is duly sent, or where a change in the name of a registered
society is made in accordance with section 5(3) of this Act, the change in the
situation of the society’s registered office or, as the case may be, the change in
the society’s name shall be registered by [F22 the Authority ] as an amendment
of the society’s rules.

10 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(3) [F22 the Authority ], on being satisfied that any amendment of a society’s rules is not
contrary to the provisions of this Act, shall issue to the society in respect of that
amendment an acknowledgment of registration [F25 bearing the Authority’s seal ] Annotations:
Amendments (Textual)
F22 Words in s. 10(1)(2)(a)(b)(3)(b) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt.
III para. 215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F23 S. 10(1)(a) words repealed (1.9.1996) by S.I. 1996/1738 , arts. 1 , 4(2)
F24 S. 10(1)(a) words substituted (1.9.1996) by S.I. 1996/1738 , arts. 1 , 4(2)
F25 Words in s. 10(3) substituted (1.12.2001) by S.I. 2001/3649 , arts. 1 , 181(2)
Modifications etc. (not altering text)
C19 S. 10 excluded by Friendly and Industrial and Provident Societies Act 1968 (c. 55) , s. 12(3)
C20 S. 10 applied (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 9(5) (with s. 51(4) ); S.I. 1996/2402 ,
art. 3
C21 S. 10(3) modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 4(3)
11 Rules as to fund for purchase of government securities.
(1) The rules of a society registered or to be registered under this Act may make provision
for the setting up and administration by the society of a fund for the purchase on behalf
of members contributing to the fund of defence bonds or national saving certificates
or such other securities of Her Majesty’s Government in the United Kingdom as may
for the time being be prescribed under [F26 section 47(1) of the M3Friendly Societies Act
1974 ] by the [F27 Treasury ]; and any such rules may make provision for enabling persons
to become members of the society for the purpose only of contributing to that fund
and without being entitled to any rights as members other than rights as contributors
to that fund.
(2) Any rule which, immediately before the commencement of this Act, was included
among the registered rules of a registered society by virtue of section 8(3) of the
[F28 M4Societies (Miscellaneous Provisions) Act 1940 ] shall have effect as if it had been
duly passed by the society.
Annotations:
Amendments (Textual)
F26 Words substituted by Friendly Societies Act 1974 (c. 46) , Sch. 9 para. 18 (a)
F27 Words in s. 11(1) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 217
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F28 Words substituted by Friendly Societies Act 1974 (c. 46) , Sch. 9 para. 18 (b)
Modifications etc. (not altering text)
C22 S. 11 excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 4(5)
Marginal Citations
M3 1974 c. 46 .
M4 1940 c. 19 .

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 11 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
12 Rules of agricultural, horticultural or forestry society.
Where a society registered or to be registered under this Act consists mainly of members
who are producers of agricultural or horticultural produce or persons engaged in
forestry, or organisations of such producers or persons so engaged, and the object or
principal object of the society is the making to its members of advances of money for
agricultural, horticultural or forestry purposes, registration under this Act of the rules
of the society or any amendment thereof shall not be refused on the ground that the
rules provide, or would as amended provide, for the making of such advances without
security.
13 Supplementary provisions as to rules.
(1) The rules of a registered society or any schedule thereto may specify the form of any
instrument necessary for carrying the purposes of the society into effect.
(2) The rules of a registered society may impose reasonable fines on persons who
contravene or fail to comply with any of those rules.
(3) Any fine imposed by the rules of a registered society shall be recoverable on the
summary conviction of the offender.
(4) Any provision of, or of any instrument made under, this or any other Act requiring
or authorising the rules of a registered society to deal with particular matters shall be
without prejudice to the power of such a society to make rules with respect to any other
matter which are not inconsistent with any such provision or with any other provision
of this or any other Act and which are not otherwise unlawful.
14 Rules to bind members.
(1) Subject to subsections (2) and (3) of this section, the registered rules of a registered
society shall bind the society and all members thereof and all persons claiming through
them respectively to the same extent as if each member had subscribed his name and
affixed his seal thereto and there were contained in those rules a covenant on the part
of each member and any person claiming through him to conform thereto subject to the
provisions of this Act.
(2) A member of a registered society shall not, without his consent in writing having been
first obtained, be bound by any amendment of the society’s rules registered after he
became a member, being an amendment registered after 27th March 1928, if and so far
as that amendment requires him to take or subscribe for more shares than the number
held by him at the date of registration of the amendment, or to pay upon the shares so
held any sum exceeding the amount unpaid upon them at that date, or in any other way
increases the liability of that member to contribute to the share or loan capital of the
society.
(3) In the case of a society to which section 4 of this Act applies which was a registered
society under the Act of 1893 on 1st January 1894, the society or the members thereof
may respectively exercise any power given by this Act and not made to depend on
the provisions of the society’s rules notwithstanding anything in any of those rules
registered before 12th September 1893.
(4) In its application to Scotland, subsection (1) of this section shall have effect as if the
words “and affixed his seal” were omitted.

12 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
15 Provision of copies of rules.
(1) A copy of the registered rules of any registered society shall be delivered by the society
to any person who demands it, subject to payment by that person of such sum not
exceeding two shillings as the society may see fit to charge.
(2) If any person, with intent to mislead or defraud, gives to any other person—
(a) a copy of any rules other than rules for the time being registered under this Act
on the pretence that they are the existing rules, or that there are no other rules,
of a registered society; or
(b) a copy of the rules of a society which is not registered under this Act on the
pretence that they are the rules of a registered society,
he shall be liable on summary conviction to a fine not exceeding [F29 level 1 on the
standard scale ].
Annotations:
Amendments (Textual)
F29 Words substituted by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , s. 46 and (S.)
Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , s. 289G
Modifications etc. (not altering text)
C23 S. 15 power to vary chargeable fee conferred by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 4(4)
C24 S. 15 amended by S.I. 1979/937 , reg. 18
Cancellation, suspension or refusal of registration of society or rules
16 Cancellation of registration of society.
(1) Subject to the provisions of this section and sections 18(1)( c) and 59 of this Act, and
without prejudice to section 52(4) thereof, [F30 the Authority ] may, F31 . . ., in writing,
cancel the registration of any registered society—
(a) if at any time it is proved to [F32 the Authority’s ] satisfaction—
(i) that the number of members of the society has been reduced, in the case
of a society for the time being consisting solely of registered societies,
to less than two or, in any other case, to less than [F33 three ]; or
(ii) that an acknowledgment of registration has been obtained by fraud or
mistake; or
(iii) that the society has ceased to exist;
(b) if [F34 the Authority ] thinks fit, at the request of the society, to be evidenced in
such manner as [F34 the Authority ] shall from time to time direct;
(c) F35 . . .
(i) on proof to [F36 the Authority’s ]satisfaction that the society exists for an
illegal purpose, or has wilfully and after notice from [F36 the Authority ] violated any of the provisions of this Act or any enactment repealed
thereby; or
(ii) if at any time it appears to [F37 the Authority ]that neither of the
conditions specified in section 1(2) of this Act is fulfilled in the case
of that society; or

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 13 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(iii) in the case of a society whose registered rules contain such a provision
as is authorised by section 12 of this Act, if it appears to [F37 the
Authority ]that the society no longer consists mainly of such members
as are mentioned in that section or that the activities carried on by
it do not mainly consist in making advances to its members for such
purposes as are so mentioned.
(2) Subsection (1)( c)(ii) of this section shall not authorise the cancellation of the registration
of any society to which section 4 of this Act applies which was registered or deemed to
be registered under the Act of 1893 before 26th July 1938 if no invitation to subscribe
for or to acquire or offer to acquire securities, or to lend or deposit money, has been
made on or after that date by or on behalf of the society.
(3) Not less than two months previous notice in writing specifying briefly the ground of
the proposed cancellation shall be given by the [F30 the Authority ] to a society before its
registration is cancelled otherwise than—
(a) at its own request; or
(b) by virtue of section 52(4) of this Act; or
(c) after the lodging with [F30 the Authority ] of such a certificate as is referred to
in section 59 of this Act;
and if before the expiration of the period of that notice the society duly lodges an appeal
under section 18(1)( c) of this Act, then, without prejudice to section 17(2) of this Act,
the society’s registration shall not be cancelled before the date of the determination or
abandonment of the appeal.
(4) Where the ground specified in any notice under subsection (3) of this section is that
referred to in subsection (1)( c)(ii) thereof—
(a) [F30 the Authority ] shall consider any representations with respect to the
proposed cancellation made to [F38 the Authority ] by the society within the
period of duration of the notice and, if the society so requests, afford it
an opportunity of being heard by [F38 the Authority ] before its registration is
cancelled;
(b) if it appears to [F30 the Authority ] at any time after the expiration of one month
from the date of the giving of the notice that there have not been taken the steps
which by that time could reasonably have been taken for the purpose—
(i) of converting the society into, or amalgamating it with, or transferring
its engagements to, a company in accordance with section 52 of this
Act; or
(ii) of dissolving the society under section 55 of this Act,
[F38 the Authority ]may give such directions as [F38 it]thinks fit for securing that
the affairs of the society are wound up before cancellation of the registration
takes effect.
(5) Any person who contravenes or fails to comply with any directions given by [F30 and
Authority ] under subsection (4)( b) of this section shall be liable on summary conviction
to a fine not exceeding [F39 level 3 on the standard scale ] or to imprisonment for a term
not exceeding three months or to both.
(6) Notice of every cancellation under this section of a society’s registration shall, as soon as
practicable after it takes place, be published in the Gazette and in some local newspaper
circulating in or about the locality in which the society’s registered office is situated.

14 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(7) As from the date of the publication in the Gazette under subsection (6) of this section of
notice of the cancellation of a society’s registration, the society shall absolutely cease
to be entitled to any of the privileges of this Act as a registered society, but without
prejudice to any liability actually incurred by the society which may be enforced against
it as if the cancellation had not taken place.
Annotations:
Amendments (Textual)
F30 Words in s. 16(3)(c)(4)(a)(b)(5) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt.
III para. 215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F31 Words in s. 16(1) repealed (1.12.2001) by S.I. 2001/3649 , arts. 1 , 179(1)
F32 Words in s. 16(1)(a) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
218(b) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F33 S. 16(1)(a)(i) word substituted (1.9.1996) by S.I. 1996/1738 , arts. 1 , 3(2)(a)
F34 Words in s. 16(1)(b) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
218(c) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F35 Words in s. 16(1)(c) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para.
218(d)(i) , Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F36 Words in s. 16(1)(c)(i) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
218(d)(ii)(A)(B) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F37 Words in s. 16(1)(c)(ii)(iii) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III
para. 218(d)(iii) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F38 Words in s. 16(4) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 219
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F39 Words substituted (E.W.S.) by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , ss. 38 , 46
and (S.) Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , ss. 289F , 289G
Modifications etc. (not altering text)
C25 S. 16 extended by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(6)
C26 S. 16 applied (with modifications) (2.7.2002) by 1979 c. 34 , s. 20(1A)-(1D) (as inserted by S.I.
2002/1501 , art. 2(15) (with art. 13 ))
C27 S. 16(1) (a)(i) modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 6(1) (b)
C28 S. 16 (c)(i)(ii) modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 20(1) (a)(b)
C29 Ss. 3 , 16(7) excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(5)
17 Suspension of registration of society.
(1) Where under section 16(1)( c) of this Act [F40 the Authority ] might F41 . . . cancel the
registration of a registered society, [F40 the Authority ] may, by [F42 notice in writing ]—
(a) subject to subsection (3) of this section, suspend the registration of that society
for any term not exceeding three months; and
(b) F43 . . . subject to section 18(1)( d) of this Act, from time to time renew any such
suspension for the like period.
(2) Where before the expiration of the period of a notice under section 16(3) of this Act of
the proposed cancellation of a society’s registration, that society duly lodges an appeal
from the proposed cancellation under section 18(1)( c) of this Act, [F40 the Authority ] may by [F44 notice in writing ]suspend the society’s registration from the expiration of
that period until the date of the determination or abandonment of the appeal.

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 15 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(3) Not less than two months previous notice in writing specifying briefly the ground of
the proposed suspension shall be given by [F40 the Authority ] to a society before its
registration is suspended under subsection (1)( a) of this section.
(4) Notice of every suspension of a society’s registration under subsection (1)( a) or (2) of
this section and of any renewal of a suspension under subsection (1)( b) thereof shall,
as soon as practicable after it takes place, be published in the Gazette and in some local
newspaper circulating in or about the locality in which the society’s registered office
is situated.
(5) From the date of publication in the Gazette of a notice under subsection (4) of this
section of the suspension of any society’s registration under subsection (1)( a) or (2)
of this section until the period of that suspension and any renewal thereof under
subsection (1)( b) of this section ends (whether on the expiration of that period or on a
successful appeal under section 18(1)( d) of this Act from such a renewal) the society
shall not be entitled to any of the privileges of this Act as a registered society, but without
prejudice to any liability actually incurred by the society which may be enforced against
it as if the suspension had not taken place.
F45 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:
Amendments (Textual)
F40 Words in s. 17(1)(2)(3) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F41 Words in s. 17(1) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 220(a)
(i), Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F42 Words in s. 17(1) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 220(a)
(ii) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F43 Words in s. 17(1)(b) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para.
220(a)(iii) , Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F44 Words in s. 17(2) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 220(b)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F45 S. 17(6) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 220(c) , Sch. 4
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C30 Ss. 17 , 18 extended by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(6)
C31 Ss. 17(1) , 18 applied with modifications by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 20(1)
18 Appeal from refusal, cancellation or suspension of registration of society or rules.
(1) A society may appeal from any decision of [F46 the Authority ]—
(a) to refuse registration of the society (including a refusal by reason only of
anything contained in or omitted from the society’s rules) on any ground other
than that [F47 the Authority ] is not satisfied that either of the conditions specified
in section 1(2) of this Act is fulfilled; or
(b) to refuse registration of any amendment of the society’s rules; or
(c) to cancel the society’s registration (being a cancellation of which notice
is required under section 16(3), and not being a cancellation by virtue of
section 16(1)( c)(ii), of this Act) if the appeal is lodged before the expiration

16 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
of the period of notice of the proposed cancellation given under the said
section 16(3); or
(d) to renew under section 17(1)( b) of this Act a suspension of the society’s
registration so far as that renewal provides for the suspension to continue more
than three months from the original date of suspension.
(2) An appeal under the foregoing subsection shall lie [F48 to the High Court or, in the case
of a society whose registered office is situated in Scotland, to the Court of Session ] (3) If any decision such as is mentioned in subsection (1)( a) or ( b) of this section
is overruled on appeal, [F46 the Authority ] shall thereupon issue to the society an
acknowledgment of registration of the society under section 2(3), or, as the case may
be, of the amendment under section 10(3), of this Act.
Annotations:
Amendments (Textual)
F46 Words in s. 18(1)(3) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F47 Words in s. 18(1)(a) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
221(a) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F48 Words in s. 18(2) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 221(b)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C32 Ss. 17 , 18 extended by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(6)
C33 Ss. 17(1) , 18 applied with modifications by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 20(1)
Membership and special provisions affecting members
19 Bodies corporate as members of society.
(1) Shares in a registered society may be held by any other body corporate (if that body’s
regulations so permit) by its corporate name.
(2) Where a registered society is a member of another registered society, then, for the
purposes of any enactment with respect to the making or signing of any application,
instrument or document by members of a registered society, any reference therein to
such a member shall, in relation to the first-mentioned society as a member of the
second-mentioned society, be construed as a reference to two members of the committee
and the secretary of the society.
20 Members under 21.
A person under the age of [F49 eighteen ] but above the age of sixteen may be a member of
a registered society unless provision to the contrary is made by the society’s registered
rules and may, subject to those rules and to the provisions of this Act, enjoy all the rights
of a member and execute all instruments and give all receipts necessary to be executed
or given under those rules, but shall not be a member of the committee, trustee, manager
or treasurer of the society.

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 17 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Annotations:
Amendments (Textual)
F49 Word substituted by (S.) Age of Majority (Scotland) Act 1969 (c. 39) , s. 1(3) Sch. 1 Pt. I and (E.W.)
Family Law Reform Act 1969 (c. 46) , s. 1(3) , Sch. 1 Pt. I
21 Advances to members.
Without prejudice to any provision included by virtue of section 12 of this Act, the rules
of a registered society may provide for advances of money to members—
(a) on the security of real or personal property or, in Scotland, of heritable or
moveable estate; or
(b) if the society is registered to carry on banking business, in any manner
customary in the conduct of such business.
22 Remedy for debts from members.
(1) All moneys payable to a registered society by a member thereof shall be a debt due from
that member to the society and shall be recoverable as such in the county court, or, in
Scotland, before the sheriff, within whose jurisdiction the society’s registered office is
situate or within whose jurisdiction the member resides, at the option of the society.
(2) A registered society shall have a lien on the shares of any member for any debt due to
the society by that member, and may set off any sum credited to the member on those
shares in or towards the payment of that debt.
23 Nomination to property in society.
(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

18 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
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 [F50 £1,500 ], the nomination shall be valid to the extent of
[F50 £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.
Annotations:
Amendments (Textual)
F50 Word substituted by S.I. 1975/1137 , art. 3 (a)
24 Proceedings on death of nominator.
(1) Subject to subsections (2) and (4) of this section, where any member of a registered
society has made a nomination under section 23 of this Act, the committee of the society,
on receiving satisfactory proof of the death of that member, and if and to the extent that
the nomination is valid under subsections (2) and (3) of that section, shall in the case
of each person entitled under the nomination either transfer to him, or pay him the full
value of, any property to which he is so entitled.
(2) Where any of the property comprised in such a nomination as aforesaid consists of
shares in the society, the foregoing subsection shall have effect notwithstanding that the
rules of the society declare the shares therein not to be transferable; but if the transfer
of any shares comprised in the nomination in the manner directed by the nominator
would raise the share capital of any nominee beyond the maximum for the time being
permitted in the case of that society, the committee of the society shall not transfer to
that nominee more of those shares than will raise his share capital to that maximum and
shall pay him the value of any of those shares not transferred.
(3) Where any sum falls to be paid under the foregoing provisions of this section to a
nominee who is under sixteen years of age, the society may pay that sum to either parent,
or to a guardian, of the nominee or to any other person of full age who will undertake to
hold it on trust for the nominee or to apply it for his benefit and whom the society may

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 19 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
think a fit and proper person for the purpose, and the receipt of that parent, guardian or
other person shall be a sufficient discharge to the society for all moneys so paid.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F51
Annotations:
Amendments (Textual)
F51 S. 24(4) repealed by Administration of Estates (Small Payments) Act 1965 (c. 32) , Sch. 4
25 Provision for intestacy.
(1) If any member of a registered society dies . . . F52 and at his death his property in the
society in respect of shares, loans or deposits does not exceed in the whole [F53 £5,000 ] and is not the subject of any nomination under section 23 of this Act, then, subject
to subsection (2) of this section, the committee of the society may, without letters of
administration [F54 or probate of any will ] or, in Scotland, without confirmation having
been obtained, distribute that property among such persons as appear to the committee
on such evidence as they deem satisfactory to be entitled by law to receive it.
(2) If the member aforesaid was illegitimate [F55 and leaves no widow, widower or issue,
(including any illegitimate child of the member) and mother of his parents survive him ],
the committee shall deal with his property in the society as the Treasury shall direct.
Annotations:
Amendments (Textual)
F52 Word repealed by Administration of Estates (Small Payments) Act 1965 (c. 32) , Sch. 3
F53 “£5,000” substituted by virtue of Administration of Estates (Small Payments) Act 1965 (c. 32, SIF
116:1) , ss. 1(1) , 6, Sch. 1 Pt. I and S.I. 1984/539 , art. 2 (a)
F54 Words inserted by Administration of Estates (Small Payments) Act 1965 (c. 32) , Sch. 3
F55 Words substituted by Family Law Reform Act 1969 (c. 46) , s. 19(2)
Modifications etc. (not altering text)
C34 Power to amend s. 25 conferred by Administration of Estates (Small Payments) Act 1965 (c. 32) , s. 6(1) ,
Sch. 1 Pt. I
26 Payments in respect of mentally incapable persons.
(1) Subject to subsection (2) of this section, where in the case of a member of a registered
society or a person claiming through such a member the society’s committee are
satisfied after considering medical evidence that the member or person is incapable
through disorder or disability of mind of managing his own affairs and are also satisfied
that no person has been duly appointed to administer his property on his behalf, and
it is proved to the satisfaction of the committee that it is just and expedient so to do,
the society may pay the amount of any shares, loans, and deposits belonging to that
member or person to any person whom they judge proper to receive it on his behalf,
whose receipt shall be a good discharge to the society for any sum so paid.
(2) The foregoing subsection shall not apply when the member or person in question is—
(a) a patient within the meaning of Part VIII of the M5Mental Health Act 1959; or

20 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(b) a person as to whom powers are exercisable and have been exercised under
section 104 of that Act.
Annotations:
Marginal Citations
M5 1959 c. 72 .
27 Validity of payment to persons apparently entitled.
All payments or transfers made by the committee of a registered society under section 25
or 26(1) of this Act or any corresponding provision of any Act repealed by this Act
to any person appearing to the committee at the time of the payment or transfer to
be entitled thereunder shall be valid and effectual against any demand made upon the
committee or society by any other person.
Contracts, property, etc., of society
28 Promissory notes and bills of exchange.
A promissory note or bill of exchange shall be deemed to have been made, accepted or
endorsed on behalf of any registered society if made, accepted or endorsed in the name
of the society, or by or on behalf or account of the society, by any person acting under
the authority of the society.
29 Contracts.
(1) Any contract which, if made between private persons, would be by law required to be
in writing and, if made according to English law, to be under seal may be made, varied
or discharged on behalf of a registered society in writing under the common seal of the
society; and any contract which may be or have been made, varied or discharged in
accordance with this subsection shall, so far as concerns its form, be effectual in law
and binding on all parties thereto, their heirs, executors or administrators, as the case
may be.
(2) A signature purporting to be made by a person holding any office in a registered society
attached to a writing whereby any contract purports to be made, varied or discharged by
or on behalf of the society shall, until the contrary is proved, be taken to be the signature
of a person holding that office at the time when the signature was made.
(3) Subsection (1) of this section shall not apply to Scotland; and nothing in that subsection
shall prejudice the operation in England and Wales of the M6Corporate Bodies’ Contracts
Act 1960.
Annotations:
Marginal Citations
M6 1960 c. 46 .

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 21 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
30 Holding of land.
(1) A registered society may, unless its registered rules direct otherwise, hold, purchase or
take on lease in its own name any land and may sell, exchange, mortgage or lease any
such land and erect, alter or pull down buildings on it; and—
(a) no purchaser, assignee, mortgagee or tenant shall be bound to inquire as to the
authority for any such dealing with the land by the society; and
(b) the receipt of the society shall be a discharge for all moneys arising from or in
connection with any such dealing.
(2) In the application of the foregoing subsection to Scotland—
(a) for the word “exchange” there shall be substituted the word “excamb”;
(b) for the word “mortgage” there shall be substituted the words “grant a heritable
security over”;
(c) for the word “mortgagee” there shall be substituted the words “creditor in a
heritable security”.
31 Investments. E+W
A registered society may invest any part of its funds in or upon any security authorised
by its registered rules, and also, unless those rules direct otherwise—
(a) in or upon any mortgage, bond, debenture, debenture stock, corporation stock,
annuity, rentcharge, rent or other security (not being securities payable to
bearer) authorised by or under any Act of ;
[F56 [F57 (i) a billing authority or a precepting authority, as defined in section 69 of
the Local Government Finance Act 1992;
(ia) [F58 a combined police authority or] a combined fire authority, as
defined in section 144 of the Local Government Finance Act 1988; ] (ii) a levying body within the meaning of section 74 of that Act; and
(iii) a body as regards which section 75 of that Act applies ] (b) in the shares or on the security of any other registered society, of any
[F59 building society within the meaning of the Building Societies Act 1986 ], or
of any company registered under the Companies Acts or incorporated by Act
of Parliament or by charter, being a society or company with limited liability;
(c) in or upon any other security, being a security in which trustees are for the
time being authorised by law to invest, for which purpose sections 1 to 6 of theM7Trustee Investments Act 1961 shall apply as if the society were a trustee and
its funds were trust property.
Annotations:
Amendments (Textual)
F56 S. 31(a) paragraphs (i)–(iii) substituted (E.W.) for “any local authority within the meaning of the Local
Loans Act 1875” by S.I.1990/776 , art. 8 , Sch. 3 para. 9
F57 S. 31(a)(i)(ia) substituted (E.W.)(2.11.1992) for s. 31(a)(i) by Local Government Finance Act 1992
(c. 14) , s. 117(1) , Sch. 13 para. 13 (with s. 118(1)(2)(4) ); S.I. 1992/2454 , art. 2 .
F58 S. 31(a)(ia) words repealed (E.W.)(1.4.1995), by 1994 c. 29 s. 93, Sch. 9 Pt. I; S.I. 1994/3262 , art. 4(1)
Sch.
F59 Words substituted by Building Societies Act 1986 (c. 53, SIF 16) , s. 120 , Sch. 18 para. 6

22 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Marginal Citations
M7 1961 c. 62 .
31 Investments. S
A registered society may invest any part of its funds in or upon any security authorised
by its registered rules, and also, unless those rules direct otherwise—
(a) in or upon any mortgage, bond, debenture, debenture stock, corporation stock,
annuity, rentcharge, rent or other security (not being securities payable to
bearer) authorised by or under any Act ofany local authority within the meaning
of the M15 Local Loans Act 1875;
(b) in the shares or on the security of any other registered society, of any
[F148 building society within the meaning of the Building Societies Act 1986 , or
of any company registered under the Companies Acts or incorporated by Act
of Parliament or by charter, being a society or company with limited liability;
(c) in or upon any other security, being a security in which trustees are for the
time being authorised by law to invest, for which purpose sections 1 to 6 of theM16 Trustee Investments Act 1961 shall apply as if the society were a trustee and
its funds were trust property.
Annotations:
Extent Information
E4 This version of this provision extends to Scotland and the Channel Islands only; a separate version has
been created for England and Wales only.
Amendments (Textual)
F148 Words substituted by Building Societies Act 1986 (c. 53, SIF 16) , s. 120 , Sch. 18 para. 6
Marginal Citations
M15 1875 c. 83 .
M16 1961 c. 62 .
32 Proxy voting by societies.
(1) A registered society which has invested any part of its funds in the shares or on the
security of any other body corporate may appoint as proxy any one of its members
notwithstanding that he is not personally a shareholder of that other body corporate.
(2) Any member of the society so appointed shall during the continuance of his appointment
be taken by virtue thereof as holding the number of shares held by the society for all
purposes other than the transfer of any such share or the giving of a receipt for any
dividend thereon.
33 Discharge of mortgages in England and Wales.
(1) Where, in the case of any mortgage or other assurance to a registered society of any
property in England or Wales, a receipt in full for all moneys secured thereby on that
property is endorsed on or annexed to the mortgage or other assurance, being a receipt—

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 23 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(a) signed by two members of the committee and countersigned by the secretary
of the society or, if the society is in liquidation, signed by the liquidator or
liquidators for the time being, described as such; and
(b) in one of the forms set out in Part I of Schedule 3 to this Act, or in any other
form specified in the rules of the society or any schedule thereto,
then, for the purposes of the provisions of section 115 of the M8Law of Property Act
1925 specified in subsection (2) of this section, that receipt shall be deemed to be a
receipt which fulfils the requirements of subsection (1) of that section.
(2) The provisions of the said section 115 referred to in the foregoing subsection are—
(a) subsection (1) so far as it relates to the operation of such a receipt as is
mentioned in that subsection;
(b) if, but only if, the receipt under this section states the name of the person who
pays the money, subsection (2);
(c) subsections (3), (6), (8), (10) and (11);
(d) where consistent with the terms of the form authorised by subsection (1)( b) of
this section which is used for the receipt, subsection (7).
Annotations:
Marginal Citations
M8 1925 c. 20 .
34 Discharge of securities in Scotland.
(1) Where land in Scotland is held in security by a registered society by virtue of a heritable
security constituted by an ex facie absolute conveyance, whether qualified by a back
letter or not, a receipt in or as nearly as may be in form C in Part II of Schedule 3 to this
Act endorsed on or annexed to the conveyance shall, on the registration thereof in the
General Register of Sasines, effectually discharge that heritable security and disburden
the land comprised therein, and vest that land in the person or persons entitled thereto
at the date of the granting of the receipt in the like manner and to the like effect as if a
conveyance containing all usual and necessary clauses had been granted by the society
to that person or persons and duly registered as aforesaid.
(2) Where land in Scotland is held in security by a registered society by virtue of a heritable
security other than the one constituted by an ex facie absolute conveyance, a receipt in
or as nearly as may be in form D in the said Part II endorsed on or annexed to the
deed constituting that heritable security shall, on the registration thereof in the General
Register of Sasines, effectually discharge that heritable security and disburden the land
comprised therein in the like manner and to the like effect as if a discharge containing
all usual and necessary clauses had been granted by the society and duly registered as
aforesaid.
(3) Where property other than land is held in security by a registered society in Scotland, a
receipt in or as nearly as may be in form E in the said Part II shall discharge the security,
and vest the property comprised therein in the person or persons entitled thereto at the
date of the granting of the receipt without the necessity of any further deed:
Provided that where the original security was intimated to any person that security shall
not be discharged nor the property vested as aforesaid until the receipt has been duly
intimated to that person.

24 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(4) The fees payable in respect of the registration of receipts mentioned in this section shall
in no case exceed [F60 25p ] . . . F61
(5) In this section—
(a) the expression “a receipt”, in relation to any security, means a receipt, [ F62 signed
by two members of the committee and countersigned by the secretary of the
society or, if the society is in liquidation, signed by the liquidator or liquidators
for the time being, described as such], for all moneys advanced by the society
on the security of the property comprised in that security;
(b) the expressions “conveyance” and “deed” have the meanings respectively
assigned to them by the M9Conveyancing (Scotland) Act 1924.
Annotations:
Amendments (Textual)
F60 Words substituted by virtue of Decimal Currency Act 1969 (c. 19) , s. 10(1)
F61 Words repealed (1.8.1971) by Finance Act 1971 (c. 68) , Sch. 14 Pt. VI
F62 Words in s. 34(5)(a) repealed (S.)(1.8.1995) by 1995 c. 7 , ss. 14(2) , 15(2) , Sch. 5 (with ss. 9(3)(5)(7) , 13,
14(3) )
Marginal Citations
M9 1924 c. 27 .
35 Receipt on payment of moneys secured to a society.
On payment of all moneys intended to be secured to a registered society on the security
of any property, the debtor or his successor or representatives shall be entitled to a
receipt in the appropriate form specified in Schedule 3 to this Act.
[F63 36 Execution of deeds in Scotland.
In Scotland, any deed or writ to which any registered society is a party shall be held to
be duly executed on behalf of that society if it is sealed with the common seal of the
society subscribed on behalf of the society by two members of the committee and the
secretary thereof, whether that subscription is attested by witnesses or not. ] Annotations:
Amendments (Textual)
F63 S. 36 repealed (S.) (1.8.1995) by 1995 c. 7 , ss. 14(2) , 15(2) Sch. 5(with ss. 9(3)(5)(7), 13, 14(3))
Accounts, etc.
37,
38.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F64

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 25 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Annotations:
Amendments (Textual)
F64 Ss. 37 , 38 repealed by Friendly and Industrial and Provident Societies Act 1968 (c. 55) , Sch. 2
39 Annual returns.
(1) Every registered society shall, [F65 within the period of 7 months beginning immediately
after the end of the period required by this section to be included in the return ], send to
[F66 the Authority ] a return [F65 relating to its affairs for that period ], together with—
[F67 (a) where the period required to be included in the return is one at the end of which
there is in force in relation to the period a disapplication under section 4A(1)
of the Friendly and Industrial and Provident Societies Act 1968 (power to
disapply the obligation under section 4 of that Act to have accounts audited),
the documents mentioned in subsection (1A) of this section, and
(b) where it is not, the documents mentioned in subsection (1B) of this section.
(1A) The documents referred to in subsection (1)(a) of this section are—
(a) copies of the reports, if any, which the society is required, because of the
disapplication, to obtain under section 9A of the Friendly and Industrial
and Provident Societies Act 1968 (duty to obtain accountant’s reports where
section 4 of that Act disapplied); and
(b) a copy of each balance sheet made during the period included in the return.
(1B) The documents referred to in subsection (1)(b) of this section are— ] (a) a copy of the report of the auditor or auditors on the society’s accounts for the
period included in the return; and
(b) a copy of each balance sheet made during that period and of any report of the
auditor or auditors on that balance sheet.
(2) The said return shall—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F68
(c) subject to subsections (3) and (4) of this section, be made up for the period
beginning with the date of the society’s registration under this Act or [F69 with
the date to which the society’s last annual return was made up, whichever is
the later, and ending—
(i) with the date of the last balance sheet published by the society before
the appropriate date; or
(ii) if the date of that balance sheet is earlier than 31st August immediately
preceding the appropriate date or later than 31st January of the year
in which the appropriate date falls, with 31st December immediately
preceding the appropriate date, ] [F70 (2A) For the purposes of paragraph ( c) of subsection (2) of this section “ the appropriate date ”,
in relation to an annual return of a society, is 31st March of the year in which that return
is required by subsection (1) of this section to be sent to [F66 the Authority ]or the date
on which that return is so sent, whichever is the earlier. ] (3) If [F66 the Authority ] is of opinion that special circumstances exist [F71 it]may allow a
society to make a return under this section up to a date other than that specified in
subsection (2)( c)(i) or (ii) of this section, F72 . . ..

26 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(4) The last return under this section by a registered society which is being terminated by
an instrument of dissolution under section 55( b) of this Act shall be made up to the date
of the instrument of dissolution.
(5) Every registered society shall supply free of charge to every member or person
interested in the funds of the society who applies for it a copy of the latest return of
the society under this section.
Annotations:
Amendments (Textual)
F65 S. 39(1) words substitiuted (1.9.1996) by S.I. 1996/1738 , arts. 1 , 5(2)(a)(b)
F66 Words in s. 39(1)(2A)(3) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III
para. 215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F67 S. 39(1) words inserted (1.9.1996) by S.I. 1996/1738 , arts. 1 , 9(1)
F68 S. 39(2) (a)(b) repealed by Friendly and Industrial and Provident Societies Act 1968 (c. 55) , Sch. 2
F69 Words substituted by Friendly and Industrial and Provident Societies Act 1968 (c. 55) , Sch. 1 para. 10
F70 S. 39(2A) inserted by Friendly and Industrial and Provident Societies Act 1968 (c. 55) , Sch. 1 para. 10
F71 Word in s. 39(3) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 222
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F72 S. 39(3) words repealed (1.9.1996) by S.I. 1996/1738 , arts. 1 , 5(3)
Modifications etc. (not altering text)
C35 Power to apply s. 39 in part conferred by Friendly and Industrial and Provident Societies Act 1968
(c. 55) , s. 4(7) ; s. 39 extended ibid., s. 13(7)
C36 S. 39(1) excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 24(2)
40 Display of latest balance sheet.
Every registered society shall keep a copy of the latest balance sheet of the society, F73 . . .,
hung up at all times in a conspicuous position at the registered office of the society.
Annotations:
Amendments (Textual)
F73 S. 40 words repealed (1.9.1996) by S.I. 1996/1738 , arts. 1 , 9(2)
Officers, receivers, etc.
41 Security by officers.
(1) Every officer of a registered society having receipt or charge of money shall, if the rules
of the society so require, before entering upon the execution of his office give security
in such sum as the society’s committee may direct conditioned for his rendering a just
and true account of all moneys received and paid by him on account of the society at
such times as its rules appoint or as the society or its committee require him so to do
and for the payment by him of all sums due from him to the society.
(2) An officer of a registered society shall give security in accordance with the foregoing
subsection either—

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 27 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(a) by becoming bound, either with or without a surety as the society’s committee
may require, in a bond in one of the forms set out in Schedule 4 to this Act or
such other form as the society’s committee may approve; or
(b) by giving the security of a guarantee society.
(3) In the application of this section to Scotland, for the reference in subsection (2)( a)
thereof to a surety there shall be substituted a reference to a cautioner.
42 Duty of officers of society to account.
(1) Every officer of a registered society having receipt or charge of money, and every
servant of such a society in receipt or charge of money who is not engaged under a
special agreement to account, shall—
(a) at such times as he is required so to do by the rules of the society; or
(b) on demand; or
(c) on notice in writing requiring him so to do given or left at his last or usual place
of residence,
render an account as may be required by the society or its committee to be examined
and allowed or disallowed by them, and shall, on demand or on such notice as aforesaid,
pay over all moneys and deliver all property for the time being in his hands or custody
to such person as the society or committee may appoint.
(2) Any duty imposed by the foregoing subsection on an officer or servant of a society
shall, after his death, be taken to be imposed on his personal representatives.
(3) In case of any neglect or refusal to comply with the foregoing provisions of this section,
the society—
(a) may sue on any bond or security given under section 41 of this Act; or
(b) may apply to the county court (which may proceed in a summary way) or to a
magistrates’ court and, notwithstanding anything in [F74 section 77 of the County
Courts Act 1984 ], the order of that county court or magistrates’ court shall be
final and conclusive.
(4) In its application to Scotland, this section shall have effect as if for subsection (3)( b)
thereof there were substituted the following:—
“(b) may apply to the sheriff, and, notwithstanding anything in section 62 of
the Summary Jurisdiction (Scotland) Act 1954, the order of the sheriff
shall be final and conclusive.”.
Annotations:
Amendments (Textual)
F74 Words substituted by County Courts Act 1984 (c. 28, SIF 34) , s. 148(1) , Sch. 2 para. 29
43 Duties of receiver or manager of society’s property.
Every receiver or manager of the property of a registered society who has been
appointed under the powers contained in any instrument shall—
(a) within one month from the date of his appointment notify [F75 the Authority ] of
his appointment; and

28 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(b) within one month (or such longer period as [F75 the Authority ] may allow)
after the expiration of the period of six months from that date, and of every
subsequent period of six months, deliver to [F75 the Authority ] a return showing
his receipts and his payments during that period of six months; and
(c) within one month after he ceases to act as receiver or manager deliver to [F75 the
Authority ] a return showing his receipts and his payments during the final
period and the aggregate amount of his receipts and of his payments during all
preceding periods since his appointment.
Annotations:
Amendments (Textual)
F75 Words in s. 43(a)(b)(c) substituted (1.12.2001 subject to a saving in S.I. 2001/2617 , art. 13(3) , Sch. 5
para. 2(d) ) by S.I. 2001/2617 , art. 13(1) , Sch. 3 Pt. III para. 215(i)(ii) (with art. 13(3) , Sch. 5 para.
2(d) )
Registers, books, etc.
44 Register of members and officers.
(1) Every registered society shall keep at its registered office a register and enter therein
the following particulars:—
(a) the names and addresses of the members;
(b) a statement of the number of shares held by each member and of the amount
paid or agreed to be considered as paid on the shares of each member;
(c) a statement of other property in the society, whether in loans, deposits or
otherwise, held by each member;
(d) the date at which each person was entered in the register as a member, and the
date at which any person ceased to be a member;
(e) the names and addresses of the officers of the society, with the offices held by
them respectively, and the dates on which they assumed office.
(2) The said register may be kept either by making entries in bound books or by recording
the matters in question in any other manner; but, where it is not kept by making entries
in a bound book but by some other means, adequate precautions shall be taken for
guarding against falsification and facilitating its discovery.
(3) Every registered society shall either—
(a) keep at its registered office a duplicate register containing the particulars in the
register kept under subsection (1) of this section other than those entered under
paragraph ( b) or ( c) of that subsection; or
(b) so construct the register kept under the said subsection (1) that it is possible
to open to inspection the particulars therein other than the particulars entered
under the said paragraph ( b) or ( c) without exposing those last-mentioned
particulars.
(4) [F76 Any person authorised for the purpose by the Authority may, on producing evidence
of his authority, ] at all reasonable hours inspect any particulars in any register or
duplicate register kept under this section.

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 29 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(5) A registered society’s register or duplicate register kept under this section, or any other
register or list of members or shares kept by the society, shall be prima facie evidence
of any of the following particulars entered therein, that is to say—
(a) the names, addresses and occupations of the members;
(b) the number of shares respectively held by the members, the distinguishing
numbers of those shares, if they are distinguished by numbers, and the amount
paid or agreed to be considered as paid on any of those shares;
(c) the date at which the name of any person, company or society was entered in
that register or list as a member;
(d) the date at which any such person, company or society ceased to be a member.
Annotations:
Amendments (Textual)
F76 Words in s. 44(4) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 223
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
45 Restriction on inspection of books.
(1) Save as provided by this Act, no member or other person shall have any right to inspect
the books of a registered society.
(2) In the case of a society to which section 4 of this Act applies, the foregoing subsection
shall have effect notwithstanding anything relating to such inspection in any rules of
the society made before 12th September 1893.
46 Inspection of books by members, etc.
(1) Subject to any regulations as to the time and manner of inspection which may be made
from time to time by the general meetings of a registered society, any member, and any
person having an interest in the funds, of the society shall be allowed to inspect at all
reasonable hours—
(a) his own account; and
(b) all the particulars contained in the duplicate register kept under section 44(3)
(a) of this Act or, if no duplicate register is so kept, all the particulars in the
register kept under section 44(1) of this Act other than those entered under
paragraph ( b) or ( c) thereof.
(2) A registered society may by its rules (not being rules made earlier than 12th September
1893) authorise, in addition to any inspection in pursuance of the foregoing subsection,
the inspection of such of the society’s books upon such conditions as may be specified
in the rules, but no person who is not an officer of the society or specially authorised by
a resolution of the society shall be authorised by the rules to inspect the loan or deposit
account of any other person without that other person’s written consent.
47 Inspection of books by order of registrar.
(1) Subject to subsection (2) of this section, [F77 the Authority ] may, if [F78 it] thinks fit, on
the application of ten members of a registered society each of whom has been a member
of the society for not less than twelve months immediately preceding the date of the

30 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
application, appoint an accountant or actuary to inspect the books of the society and
to report thereon.
(2) The members making an application under the foregoing subsection shall deposit with
[F77 the Authority ]as security for the costs of the proposed inspection such sum as [F78 it] may require; and all expenses of and incidental to the inspection shall be defrayed by
the applicants, or out of the funds of the society, or by the members or officers, or former
members or officers, of the society, in such proportions as [F77 the Authority ] may direct.
(3) A person appointed under this section shall have power to make copies of any books
of the society, and to take extracts therefrom, at all reasonable hours at the society’s
registered office or at any other place where those books are kept.
(4) [F77 the Authority ]shall communicate the results of any inspection under this section to
the applicants and to the society.
Annotations:
Amendments (Textual)
F77 Words in s. 47(1)(2)(4) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F78 Words in s. 47(1)(2) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 224
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
48 Production of documents and provision of information for certain purposes.
(1) [F79 the Authority ]may at any time, by notice in writing served on a registered society
or on any person who is or has been an officer of such a society, require that society
or person to produce to [F79 the Auhority ] such books, accounts and other documents
relating to the business of the society, and to furnish to [F80 it]such other information
relating to that business, as [F79 the Authority ] considers necessary for the exercise of any
of the powers which [F80 it] has by virtue of section 16(1)( c)(ii), 16(4) or 56 of this Act;
and any such notice may contain a requirement that any information to be furnished in
accordance with the notice shall be verified by a statutory declaration.
(2) Any society or other person failing to comply with the requirements of a notice under
the foregoing subsection shall be liable on summary conviction to a fine not exceeding
[F81 level 3 on the standard scale ] or to imprisonment for a term not exceeding three
months or to both.
(3) [F79 the Authority ] may, if [F80 it] considers it just, direct that all or any of the expenses
incurred by [F80 it]in exercising [F80 its ] powers under subsection (1) of this section in
relation to any society shall, either wholly or to such extent as [F80 it] may determine,
be defrayed out of the funds of the society or by the officers or former officers thereof
or any of them; and any sum which any society or other person is required by such a
direction to pay shall be a debt due to [F79 the Authority ] from that society or person.
Annotations:
Amendments (Textual)
F79 Words in s. 48(1)(3) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 31 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
F80 Words in s. 48 substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 225 (with
art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F81 Words substituted (E.W.S.) by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , ss. 38 , 46
and (S.) Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , ss. 289F , 289G
Modifications etc. (not altering text)
C37 S. 48(1)(2) extended by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 17(1)
C38 S. 48(3) extended by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 17(1)
49 Appointment of inspectors and calling of special meetings.
(1) Upon the application of one-tenth of the whole number of members of a registered
society or, in the case of a society with more than one thousand members, of one hundred
of those members, [F82 the Authority ] may F83 . . .
(a) appoint an inspector or inspectors to examine into and report on the affairs of
the society; or
(b) call a special meeting of the society.
(2) An application under this section shall be supported by such evidence for the purpose of
showing that the applicants have good reason for requiring the examination or meeting
and are not actuated by malicious motives, and such notice of the application shall be
given to the society, as [F82 the Authority ] shall direct.
(3) [F82 the Authority ] may, if [F84 it] thinks fit, require the applicants to give security for
the costs of the proposed examination or meeting before appointing any inspector or
calling the meeting.
(4) All expenses of and incidental or preliminary to any such examination or meeting shall
be defrayed by the members applying for it, or out of the funds of the society, or by the
members or officers, or former members or officers, of the society, in such proportions
as [F82 the Authority ] shall direct.
(5) An inspector appointed under this section may require the production of all or any of
the books, accounts, securities, and documents of the society, and may examine on oath
its officers, members, agents and servants in relation to its business, and may for that
purpose administer oaths.
(6) [F82 the Authority ] may direct at what time and place a special meeting under this section
is to be held, and what matters are to be discussed and determined at the meeting; and
the meeting shall have all the powers of a meeting called according to the rules of the
society, and shall have power to appoint its own chairman notwithstanding any rule of
the society to the contrary.
F85 (7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:
Amendments (Textual)
F82 Words in s. 49(1)(2)(3)(4)(6) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III
para. 215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F83 Words in s. 49(1) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 226(a) ,
Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)

32 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
F84 Word in s. 49(3) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 226(b)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F85 S. 49(7) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 226(c) , Sch. 4 (with
art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C39 S. 49(5)(6) applied by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 18(3)
Amalgamations, transfers of engagements and conversions
50 Amalgamation of societies.
(1) Any two or more registered societies may by special resolution of each of those
societies become amalgamated together as one society, with or without any dissolution
or division of the funds of those societies or any of them; and the property of each of
those societies shall become vested in the amalgamated society without the necessity
of any form of conveyance other than that contained in the special resolution.
(2) In this section the expression “special resolution” means a resolution which is—
(a) passed by not less than two-thirds of such members of the society for the time
being entitled under the society’s rules to vote as may have voted in person,
or by proxy where the rules allow proxies, at any general meeting of which
notice, specifying the intention to propose the resolution, has been duly given
according to those rules; and
(b) confirmed by a majority of such members of the society for the time being
entitled as aforesaid as may have voted as aforesaid at a subsequent general
meeting of which notice has been duly given held not less than fourteen days
nor more than one month from the day of the meeting at which the resolution
was passed in accordance with paragraph ( a) of this subsection.
(3) At any such meeting as aforesaid, a declaration by the chairman that the resolution has
been carried shall be deemed conclusive evidence of that fact.
(4) A copy of every special resolution for the purposes of this section signed by the
chairman of the meeting at which the resolution was confirmed and countersigned by
the secretary of the society shall be sent to [F86 the Authority ] and registered by [F87 it];
and until that copy is so registered the special resolution shall not take effect.
(5) It shall be the duty of a registered society to send any special resolution for registration
in accordance with the last foregoing subsection within fourteen days from the day
on which the resolution is confirmed under subsection (2)( b) of this section, but this
subsection shall not invalidate registration of the resolution after that time.
Annotations:
Amendments (Textual)
F86 Words in s. 50(4) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F87 Word in s. 50(4) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 227
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 33 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Modifications etc. (not altering text)
C40 Ss. 50 , 51 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 21
C41 S. 50 restricted (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 12(2) (with s. 51(4)); S.I. 1996/2402 ,
art. 3
51 Transfer of engagements between societies.
(1) Any registered society may by special resolution transfer its engagements to any
other registered society which may undertake to fulfil those engagements; and if that
resolution approves the transfer of the whole or any part of the society’s property to that
other society, the whole or, as the case may be, that part of the society’s property shall
vest in that other society without any conveyance or assignment.
(2) Subsections (2) to (5) of section 50 of this Act shall have effect for the purposes of this
section as they have effect for the purposes of that section.
(3) In its application to Scotland, subsection (1) of this section shall have effect as if for the
word “assignment” there were substituted the word “assignation”.
Annotations:
Modifications etc. (not altering text)
C42 Ss. 50 , 51 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 21
C43 S. 51 restricted (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 12(2) (with s. 51(4)); S.I. 1996/2402 ,
art. 3
S. 51 applied (1.10.1996) by 1996 c. 52 , s. 48(2) (with s. 51(4)); 1996/2402, art. 3
52 Conversion into, amalgamation with, or transfer of engagements to company.
(1) A registered society may by special resolution determine to convert itself into, or to
amalgamate with or transfer its engagements to, a company under the Companies Acts.
(2) If a special resolution for converting a registered society into a company contains
the particulars required by the [F88 Companies Act 1985 ] to be contained in the
memorandum of association of a company and a copy thereof has been registered by
the [F89 the Authority ], a copy of that resolution under the seal and stamp of [F89 the
Authority ]F90 . . . shall have the same effect as a memorandum of association duly signed
and attested under the said [F88 Act of 1985 ].
[F91 (3) In this section the expression “ special resolution ” means a resolution—
(a) which is passed at a general meeting of which notice, specifying the intention to
propose the resolution, has been duly given according to the rules of the society
(“the rules ”);
(b) which is passed by not less than three-fourths of such of the qualifying members
of the society as may have voted in person or, where the rules allow proxies,
by proxy;
(c) on which not less than half of the qualifying members of the society voted either
in person or, where the rules allow proxies, by proxy; and
(d) which is confirmed by a majority of such of the qualifying members of the
society as may have voted in person or, where the rules allow proxies, by proxy
at a subsequent general meeting of which notice has been duly given held not

34 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
less than fourteen days nor more than one month from the day of the meeting
at which the resolution was passed in accordance with paragraphs (a) to (c) of
this subsection,
and references to the qualifying members of a society are references to the members of
the society who are for the time being entitled under the society’s rules to vote.
(3A) At any such meeting as aforesaid, a declaration by the chairman that—
(a) all reasonably practicable steps have been taken to ascertain the number of
qualifying members of the society; and
(b) the resolution has been carried,
shall be deemed conclusive evidence of those facts.
(3B) Subsections (4) and (5) of section 50 of this Act shall have effect for the purposes of this
section as they have effect for the purposes of that section but as if in subsection (5) of
that section for the reference to subsection (2)(b) of that section there were substituted
a reference to subsection (3)(d) of this section. ] (4) Subject to subsection (5) of this section, if a registered society is registered as, or
amalgamates with, or transfers all its engagements to, a company under the Companies
Acts, the registration of that society under this Act shall thereupon become void and,
subject to section 59 of this Act, shall be cancelled by [F89 the Authority ]F92 . . .
(5) Registration of a registered society as a company shall not affect any right or claim for
the time being subsisting against the society or any penalty for the time being incurred
by the society; and—
(a) for the purpose of enforcing any such right, claim or penalty, the society may
be sued and proceeded against in the same manner as if it had not become
registered as a company; and
(b) every such right or claim, or the liability to any such penalty, shall have priority
as against the property of the company over all other rights or claims against
or liabilities of the company.
Annotations:
Amendments (Textual)
F88 Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27) , s.
30, Sch. 2
F89 Words in s. 52(2)(4) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F90 Words in s. 52(2) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 228(a) ,
Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F91 S. 52(3)-(3B) substituted for s. 52(3) (8.9.2002) by 2002 c. 20 , ss. 1(2) , 4(2)
F92 Words in s. 52(4) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 228(b) ,
Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C44 S. 52 excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 22 and by Housing Associations Act
1985 (c. 69, SIF 61) , s. 21(3)
C45 S. 52 restricted (1.10.1996) by 1996 c. 52 , s. 7 , Sch. 1 Pt. II para. 12(2) (wih s. 51(4)); S.I. 1996/2402 ,
art. 3
S. 52 applied (1.10.1996) by 1996 c. 52 , s. 48(2) (with s. 51(4)); S.I. 1996/2402 , art. 3

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 35 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
53 Conversion of company into registered society.
(1) A company registered under the Companies Acts may, by a special resolution as defined
by [F93 section 378 of the Companies Act 1985 ], determine to convert itself into a
registered society; and for this purpose, in any case where the nominal value of the
company’s shares held by any member other than a registered society exceeds [F94 the
maximum for the time being permitted by section 6(1) of this Act in the case of a
member of a registered society ], the resolution may provide for the conversion of
the shares representing that excess into a transferable loan stock bearing such rate of
interest as may be fixed, and repayable on such conditions only as are determined by
the resolution.
(2) Any such resolution as aforesaid shall be accompanied by a copy of the rules of the
society therein referred to and shall appoint [F95 three ] persons, being members of the
company, who, together with the secretary, shall sign the rules and who may either—
(a) be authorised to accept any alterations made by [F96 the Authority ] therein
without further consulting the company; or
(b) be required to lay any such alterations before the company in general meeting
for acceptance as the resolution may direct.
(3) A copy of the resolution aforesaid shall be sent with a copy of the rules aforesaid to
[F96 the Authority ] who, upon the registration of the society under this Act, shall give
to it, in addition to an acknowledgment of registration under section 2(3) of this Act,
a certificate similarly sealed or signed that the rules of the society referred to in the
resolution have been registered.
(4) A copy of any such resolution as aforesaid under the seal of the company together with
the certificate issued as aforesaid by [F96 the Authority ] shall be sent for registration to
the office of the registrar of companies within the meaning of the [F93 Companies Act
1985 ] and, upon his registering that resolution and certificate, the conversion shall take
effect.
(5) The name under which any company is registered under this section as a registered
society shall not include the word “company”.
(6) Subject to the next following subsection, upon the conversion of a company into
a registered society under this section, the registration of the company under the
Companies Acts shall become void and shall be cancelled by the registrar of companies
aforesaid.
(7) The registration of a company as a registered society shall not affect any right or claim
for the time being subsisting against the company or any penalty for the time being
incurred by the company; and—
(a) for the purpose of enforcing any such right, penalty or claim the company
may be sued and proceeded against in the same manner as if it had not been
registered as a society;
(b) any such right or claim and the liability to any such penalty shall have priority
as against the property of the registered society over all other rights or claims
against or liabilities of the society.

36 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Annotations:
Amendments (Textual)
F93 Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27) , s.
30, Sch. 2
F94 Words substituted by Industrial and Provident Societies Act 1975 (c. 41) , s. 3(3)
F95 S. 53(2) word substituted (1.9.1996) by S.I. 1996/1738 , arts. 1 , 3(3)
F96 Words in s. 53(2)(a)(3)(4) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III
para. 215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C46 S. 53 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 23
C47 S. 53 restricted (S.) (1.11.2001) by 2001 asp 10 , s. 63 , Sch. 7 para. 10(4) ; S.S.I. 2001/336 , art. 2(3) ,
Sch. Pt. II
C48 S. 53(2) modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 6(1) (c)
54 Saving for rights of creditors.
An amalgamation or transfer of engagements in pursuance of section 50, 51 or 52 of
this Act shall not prejudice any right of a creditor of any registered society which is
a party thereto.
Dissolution of society
55 Dissolution of registered society.
Subject to section 59 of this Act, a registered society may be dissolved—
(a) on its being wound up in pursuance of an order or resolution made as is directed
in regard to companies by the [F97 Insolvency Act 1986 ], the provisions whereof
shall apply to that order or resolution as if the society were a company, but
subject to the following modifications, that is to say—
(i) any reference in those provisions to the registrar within the meaning of
that Act shall for the purposes of the society’s winding up be construed
as a reference to the [F98 the Authority ]F99 . . .; and
[F100 (ia) any reference in those provisions to a company registered in Scotland shall
have effect as a reference to a society registered under this Act whose registered
office is situated in Scotland; ] (ii) if the society is wound up in Scotland, the court having jurisdiction
shall be the sheriff court within whose jurisdiction the society’s
registered office is situated; or
(b) in accordance with section 58 of this Act, by an instrument of dissolution to
which not less than three-fourths of the members of the society have given their
consent testified by their signatures to the instrument.
Annotations:
Amendments (Textual)
F97 Words substituted by virtue of Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF
27) , s. 30 , Sch. 2 and Insolvency Act 1986 (c. 45, SIF 66) , s. 439(2) , Sch. 14

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 37 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
F98 Words in s. 55(a)(i) substituted (1.12.2001 subject to a saving in S.I 2001/2617, art. 13(3), Sch. 5 para.
2(d)) by S.I. 2001/2617 , art. 13(1) , Sch. 3 Pt. III para. 215(i)
F99 Words in s. 55(a)(i) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para.
229(a) , Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F100 S. 55(a)(ia) inserted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 229(b) (with
art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
56 Power of registrar to petition for winding up.
In the case of a society to which section 4 of this Act applies which was registered or
deemed to be registered under the Act of 1893 before 26th July 1938, a petition for
the winding up of the society may be presented to the court by [F101 the Authority ] if it
appears to [F101 the Authority ]—
(a) that neither of the conditions specified in section 1(2) of this Act is fulfilled in
the case of that society; and
(b) that it would be in the interests of persons who have invested or deposited
money with the society or of any other person that the society should be wound
up.
Annotations:
Amendments (Textual)
F101 Words in s. 56 substituted (1.12.2001 subject to a saving in S.I 2001/2617, art. 13(3), Sch. 5 para. 2(d))
by S.I. 2001/2617 , art. 13(1) , Sch. 3 Pt. III para. 215(i)(ii) )
57 Liability of members in winding up.
Where a registered society is wound up by virtue of section 55( a) of this Act, the liability
of a present or past member of the society to contribute for payment of the debts and
liabilities of the society, the expenses of winding up, and the adjustment of the rights of
contributories amongst themselves, shall be qualified as follows, that is to say—
(a) no person who ceased to be a member not less than one year before the
beginning of the winding up shall be liable to contribute;
(b) no person shall be liable to contribute in respect of any debt or liability
contracted after he ceased to be a member;
(c) no person who is not a member shall be liable to contribute unless it appears
to the court that the contributions of the existing members are insufficient to
satisfy the just demands on the society;
(d) no contribution shall be required from any person exceeding the amount, if any,
unpaid on the shares in respect of which he is liable as a past or present member;
(e) in the case of a withdrawable share which has been withdrawn, a person shall
be taken to have ceased to be a member in respect of that share as from the date
of the notice or application for withdrawal.
58 Instrument of dissolution.
(1) The following provisions of this section shall have effect where a society is to be
dissolved by an instrument of dissolution under section 55( b) of this Act.
(2) The instrument of dissolution shall set forth—

38 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(a) the liabilities and assets of the society in detail;
(b) the number of the members and the nature of their respective interests in the
society;
(c) the claims of creditors, if any, and the provision to be made for their payment;
and
(d) unless stated in the instrument of dissolution to be left to the award of [F102 the
Authority ], the intended appropriation or division of the funds and property of
the society.
(3) Alterations in the instrument of dissolution may be made by the consent of not less than
three-fourths of the members of the society testified by their signatures to the alteration.
(4) The instrument of dissolution shall be sent to [F103 the Authority ] accompanied by a
statutory declaration made by three members and the secretary of the society that all
relevant provisions of this Act have been complied with; and any person knowingly
making a false or fraudulent declaration in the matter shall be guilty of a misdemeanour
or, in Scotland, an offence.
(5) The instrument of dissolution and any alterations thereto shall be registered in like
manner as an amendment of the rules of the society and shall be binding upon all
the members of the society, but shall not be so registered until [F103 the Authority ] has
received such a final return from the society as is referred to in section 39(4) of this Act.
(6) [F103 the Authority ] shall cause notice of the dissolution to be advertised F104 . . . in the
Gazette and in some newspaper circulating in or about the locality in which the society’s
registered office is situated; and unless—
(a) within three months from the date of the Gazette in which that advertisement
appears a member or other person interested in or having any claim on the funds
of the society commences in the county court, or in Scotland before the sheriff,
having jurisdiction in that locality proceedings to set aside the dissolution of
the society; and
(b) that dissolution is set aside accordingly,
then, subject to subsection (7) of this section, the society shall be legally dissolved from
the date of the advertisement and the requisite consents to the instrument of dissolution
shall be deemed to have been duly obtained without proof of the signatures thereto.
(7) If the certificate referred to in section 59 of this Act has not been lodged with the
[F103 the Authority ] by the date of the advertisement referred to in subsection (6) of this
section, the society shall be legally dissolved only from the date when that certificate
is so lodged.
(8) Notice of any proceedings to set aside the dissolution of a society shall be sent to [F103 the
Authority ] by the person taking those proceedings not later than seven days after they
are commenced or not later than the expiration of the period of three months referred to
subsection (6) of this section, whichever is the earlier; and notice of any order setting
the dissolution aside shall be sent by the society to [F103 the Authority ] within seven days
after the making of the order.
(9) In the application of this section to a society which for the time being consists solely of
two registered societies, the reference in subsection (4) thereof to three members shall
be construed as a reference to both members.

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 39 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Annotations:
Amendments (Textual)
F102 Words in s. 58(2)(d) substituted (1.12.2001 subject to a saving by S.I. 2001/2617 , art. 13(3) , Sch. 5
para. 2(d) ) by S.I. 2001/2617 , art. 13(1) , Sch. 3 Pt. III para. 215(iii)
F103 Words in s. 58 substituted (1.12.2001) by S.I. 2001/3617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215 (with
art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F104 Words in s. 58(6) repealed (1.12.2001) by S.I. 2001/3649 , arts. 1 , 180
Modifications etc. (not altering text)
C49 S. 58(5)(6) applied (S.) (1.11.2001) by 200 asp 10, s. 63, Sch. 7 para. 9(5)(a)(b); S.S.I. 2001/336 , art.
2(3) , Sch. Pt. II
C50 S. 58(5) , (6) restricted by Housing Associations Act 1985 (c. 69, SIF 61) , s. 21(5)
Special restriction on dissolution, etc.
59 Restriction on dissolution or cancellation of registration of society.
Where a registered society is to be dissolved in accordance with section 55 of this Act,
or where a registered society’s engagements are transferred under section 51 or 52 of
this Act, the society shall not be dissolved, and the registration of the society shall not be
cancelled, until there has been lodged with [F105 theAuthority ] a certificate signed by the
liquidator or by the secretary or some other officer of the society approved by [F105 the
Authority ] that all property vested in the society has been duly conveyed or transferred
by the society to the persons entitled.
Annotations:
Amendments (Textual)
F105 Words in s. 59 substituted (1.12.2001 subject to a saving in S.I 2001/2617, art. 13(3), Sch. 5 para. 2(d))
by S.I. 2001/2617 , art. 13(1) , Sch. 3 Pt. III para. 215(i)(ii)
Disputes, offences and legal proceedings
60 Decision of disputes.
(1) Subject to subsections (2), [F106 (2A), ](4) and (5) of this section, every dispute between
a registered society or an officer thereof and—
(a) a member of the society; or
(b) any person aggrieved who has ceased to be a member of the society not more
than six months previously; or
(c) any person claiming through a member of the society or any such person
aggrieved; or
(d) any person claiming under the rules of the society,
shall, if the society’s rules give directions as to the manner in which such disputes are
to be decided, be decided in that manner.
[F107 (1A) Nothing in subsection (1) above or in rules of a kind mentioned in that subsection
prevents any person, in accordance with the scheme for which Part XVI of the Financial

40 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Services and Markets Act 2000 provides (the ombudsman scheme), from having a
complaint dealt with under such a scheme before, or instead of, determination in the
manner directed in the rules. ] [F108 (2) The county court or, in Scotland, the sheriff may determine a dispute in a registered
society if—
(a) both parties to the dispute consent; or
(b) the rules of the society concerned contain no directions as to disputes. ] [F109 (2A) If the rules contain directions by virtue of which a dispute would fall to be determined
by the Authority, the dispute shall instead be referred to the county court or, in Scotland,
to the sheriff for determination. ] (3) A decision made under subsection (1) or (2) of this section on any dispute shall be
binding and conclusive on all parties without appeal; and—
(a) the decision shall not be removable into any court of law or restrainable by
injunction; and
(b) application for the enforcement of the decision may be made to the county
court.
(4) Subject to subsection (5) of this section, any dispute directed by the rules of a registered
society to be referred to justices shall be determined by a magistrates’ court.
(5) Where, whether by virtue of subsection (4) of this section or otherwise, a dispute is
congnisable under the rules of a registered society by a magistrates’ court, the parties
to the dispute may by agreement refer the dispute to the county court, who may hear
and determine it.
(6) Where the rules of a registered society contain no direction as to disputes, or where no
decision is made on a dispute within forty days after application to the society for a
reference under its rules, any person such as is mentioned in subsection (1)( a) to ( d) of
this section who is a party to the dispute may apply either to the county court or to a
magistrates’ court, who may hear and determine the matter in dispute.
(7) In the application of the foregoing provisions of this section to Scotland—
(a) in subsection (3), paragraph ( a) shall be omitted and in paragraph ( b) for the
words “county court” there shall be substituted the word “sheriff”;
(b) subsections (4) to (6) shall not apply, but in Scotland—
(i) any dispute directed by the rules of a registered society to be referred to
justices, a justice of the peace court, or a court of summary jurisdiction,
shall be determined by the sheriff;
(ii) where the rules of a registered society contain no direction as to
disputes, or where no decision is made on a dispute within forty days
after application to the society for a reference under its rules, any
person such as is mentioned in subsection (1)( a) to ( d) of this section
who is a party to the dispute may apply to the sheriff, who may hear
and determine the matter in dispute.
(8) For the purposes of the hearing or determination of a dispute under this section—
[F110 (a) a county court or, in Scotland, the sheriff shall have power to order the expenses
of determining the dispute to be paid either out of the funds of the society or
by such parties to the dispute as it thinks fit; ] (b) in England and Wales, a magistrates’ court may grant to either party such
discovery as to documents and otherwise, or such inspection of documents,

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 41 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
being, in the case of discovery to be made on behalf of the society, discovery by
such officer of the society as the court may determine, as [F111 the court considers
necessary for the just and expeditious disposal of the dispute ]; F112 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F113 (9) The court [F114 to which ]any dispute is referred under subsections (2) to (7) may at the
request of either party state a case on any question of law arising in the dispute for the
opinion of the High Court or, as the case may be, the Court of Session. ] Annotations:
Amendments (Textual)
F106 Words in s. 60(1) inserted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 230(a)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F107 S. 60(1A) inserted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 230(b) (with art.
13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F108 S. 60(2) substituted (E.W.S.)(13.1.1993) by Friendly Societies Act 1992 (c. 40) , s. 83 (with ss. 7(5) ,
93(4) ); S.I. 1993/16 , art. 2 , Sch. 2
F109 S. 60(2A) inserted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 230(c) (with art.
13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F110 S. 60(8)(a) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 230(d)(i)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F111 Words in s. 60(8)(b) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
230(d)(ii) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F112 S. 60(8)(c) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 230(e) , Sch. 4
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F113 S. 60(9) substituted (31.1.1997) by 1996 c. 23 , s. 107(1) , Sch. 3 para. 20(3) ; S.I. 1996/3146 , art. 3
F114 Words in s. 60(9) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 230(e)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C51 S. 60(2) excluded (4.1.1993) by S.I. 1993/16 , art. 7
61 General offences by societies, etc.
If any registered society, or any officer or member thereof, or any other person—
(a) fails to give any notice, send any return or other document, do anything or allow
anything to be done which that society, officer, member or other person is by
this Act required to give, send, do or allow to be done, as the case may be; or
(b) wilfully neglects or refuses to do any act, or to furnish any information, required
for the purposes of this Act by [F115 the Authority ]F116 . . . or by any other person
authorised under this Act, or does anything forbidden by this Act; or
(c) makes a return required by this Act, or wilfully furnishes information so
required, which is in any respect false or insufficient,
that society, officer, member or other person, as the case may be, shall be liable on
summary conviction to a fine not exceeding [F117 level 3 on the standard scale ].

42 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Annotations:
Amendments (Textual)
F115 Words in s. 61(b) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F116 Words in s. 61(b) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 231 ,
Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F117 Words substituted by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , s. 39 , Sch. 3 , Sch.
6 and (S.) by Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , Sch. 7D also s. 61 words
substituted (S.) (1.4.1996) by vitue of 1995 c. 40 ss. 3, 7(2), Sch. 1 para. 10 Sch. 2 Pt. III
Modifications etc. (not altering text)
C52 Ss. 61 , 63, 64, 65, 66, 68 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(1)
62 Offences by societies to be also offences by officers, etc.
Every offence committed by a registered society under this Act shall be deemed to have
been also committed by every officer of that society bound by the society’s rules to
fulfil the duty of which that offence is a breach or, if there is no such officer, by every
member of the society’s committee who is not proved to have been ignorant of, or to
have attempted to prevent, the commission of that offence.
Annotations:
Modifications etc. (not altering text)
C53 S. 62 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(1)(4)
63 Continuing offences.
Every act or default under this Act constituting an offence shall constitute a new offence
in every week during which it continues.
Annotations:
Modifications etc. (not altering text)
C54 Ss. 61 , 63, 64, 65, 66, 68 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(1)
C55 S. 63 excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(2)
64 Punishment of fraud or misappropriation.
(1) Subject to subsection (2) of this section, any person who obtains possession by false
representation or imposition of any property of a registered society, or having any
such property in his possession withholds or misapplies it or wilfully applies any part
of it to purposes which are not authorised by the rules of the society or which are
not in accordance with this Act, shall be liable on summary conviction to a fine not
exceeding [F118 level 2 on the standard scale ] with costs or expenses and to be ordered
to deliver up that property or to repay all moneys improperly applied and, in default of
such delivery or repayment or of the payment of any such fine, to be imprisoned for a
term not exceeding three months; but nothing in this subsection shall prevent any such

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 43 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
person from being proceeded against by way of indictment for any offence if he has not
previously been convicted in respect of the same matters under this subsection.
(2) If on proceedings under the foregoing subsection it is not proved that the person charged
acted with any fraudulent intent, he may be ordered to deliver up any property belonging
to the society or to repay any money improperly applied, with costs or expenses, but
shall not be liable to conviction under that subsection.
Annotations:
Amendments (Textual)
F118 Words substituted by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , s. 46 and (S.)
Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , s. 289G
Modifications etc. (not altering text)
C56 Ss. 61 , 63, 64, 65, 66, 68 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(1)
65 Penalty for falsification.
If any person, with intent to falsify it or to evade any of the provisions of this Act,
wilfully makes, or orders or allows to be made, any entry or erasure in, or omission
from, any balance-sheet of a registered society, or any contribution or collecting book,
or any return or document required to be sent, produced or delivered for the purposes
of this Act, he shall be liable on summary conviction to a fine not exceeding [F119 level
3 on the standard scale ].
Annotations:
Amendments (Textual)
F119 Words substituted (E.W.S.) by virtue of (E.W.) Criminal Justice Act 1982 (c. 48, SIF 39:1) , ss. 38 , 46
and (S.) Criminal Procedure (Scotland) Act 1975 (c. 21, SIF 39:1) , ss. 289F , 289G
Modifications etc. (not altering text)
C57 Ss. 61 , 63, 64, 65, 66, 68 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(1)
66 Institution of proceedings.
(1) Proceedings for the recovery of a fine which under this Act is recoverable on the
summary conviction of the offender may be instituted by F120 . . . the following persons,
that is to say—
(a) in the case of proceedings by virtue of section 64(1) of this Act—
(i) the registered society concerned; or
(ii) any member of that society authorised by the society or its committee
or by [F121 the Authority ]; or
[F122 (iii) other than in Scotland, the Authority; ] (b) in the case of proceedings by virtue of section 13(3) of this Act, the registered
society concerned;
[F123 (c) in any other case—
(i) any person aggrieved; or

44 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
(ii) other than in Scotland, the Authority;
and (except in Scotland) no other person may institute such proceedings. ] (2) Notwithstanding any limitation on the time for the taking of proceedings contained in
any Act, any proceedings such as are mentioned in subsection (1) of this section which
are instituted by [F124 the Authority or by the Lord Advocate ]may be brought at any
time within one year of the first discovery of the offence by [F125 Authority (or the Lord
Advocate, as the case may be) ], but not in any case more than three years after the
commission of the offence.
Annotations:
Amendments (Textual)
F120 Words in s. 66(1)(b) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para.
232(a)(i) , Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F121 Words in s. 66(1)(a)(ii) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
215 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F122 S. 66(a)(iii) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 232(a)(ii)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F123 S. 66(1)(c) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 232(a)(iii)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F124 Words in s. 66(2) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 232(b)
(i) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F125 Words in s. 66(2) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 232(b)
(ii) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C58 Ss. 61 , 63, 64, 65, 66, 68 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(1)
C59 S. 66(2) excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(3)
67 Recovery of costs, etc.
(1) Any costs or expenses ordered or directed by [F126 the Authority ]F127 . . . to be paid by
any person under this Act shall be recoverable summarily as a civil debt.
(2) In the application of the foregoing subsection to Scotland, the word “summarily” shall
be omitted.
Annotations:
Amendments (Textual)
F126 Words in s. 67(1) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 215
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F127 Words in s. 67(1) repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 234 ,
Sch. 4 (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C60 Ss. 67 , 70, 71, 72–74 applied by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 31(2)

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 45 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
68 Service of process.
Where proceedings are taken against a registered society for the recovery of any fine
under this Act, the summons or other process shall be sufficiently served by leaving a
true copy thereof at the registered office of the society or, if that office is closed, by
posting that copy on the outer door of that office.
Annotations:
Modifications etc. (not altering text)
C61 Ss. 61 , 63, 64, 65, 66, 68 modified by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 28(1)
Miscellaneous and general
69 Remuneration of county court registrars.
Registrars of county courts shall be remunerated for any duties to be performed by
them under this Act in such manner as the Treasury may with the consent of the Lord
Chancellor from time to time direct.
F128 70 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:
Amendments (Textual)
F128 S. 70 repealed (1.12.2001) by 2000 c. 8 , ss. 338(3) , 432(3) , Sch. 18 Pt. IV para. 20 , Sch. 22 ; S.I.
2001/3538 , art. 2(1)
[F129 70A Fees for inspection or copying of documents.
Before the Authority allows any person to inspect any document held by it in connection
with this Act, or provides any person with a copy of any such document (or part of such
document), it may charge that person a reasonable fee. ] Annotations:
Amendments (Textual)
F129 S. 70A inserted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 234 (with art. 13(3) ,
Sch. 5 ); S.I. 2001/3538 , art. 2(1)
71F130 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:
Amendments (Textual)
F130 S. 71 repealed (1.12.2001) by S.I. 2001/3649 , arts. 1 , 181(1)

46 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
72 Form, deposit and evidence of documents.
[F131 Every return and other document required for the purposes of this Act shall be made
in such form, shall contain such particulars and shall be deposited in such manner as the
Authority may direct and the Authority shall register and record those documents with
such observations thereon (if any) as it considers appropriate. ] [F132 (2) Any document bearing the seal or stamp of the Authority shall be received in evidence
without further proof.
(3) Any document purporting to have been signed by a person authorised to do so on behalf
of the Authority, and every document purporting to be signed by any inspector under
this Act, shall, in the absence of any evidence to the contrary, be received in evidence
without proof of the signature.
(4) In subsections (2) and (3), “document” means any document issued, received or created
by the Authority (or, as the case may be, by any inspector under this Act) for the
purposes of or in connection with this Act, the Industrial and Provident Societies Act
1967 or the Friendly and Industrial and Provident Societies Act 1968. ] Annotations:
Amendments (Textual)
F131 Words in s. 72 substituted (1.12.2001) for s. 72(1) by S.I. 2001/3649 , arts. 1 , 182
F132 S. 72(2)(3)(4) (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 235 (with art. 13(3) ,
Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C62 Ss. 67 , 70, 71, 72–74 applied by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 31(2)
C63 S. 72 extended by Industrial and Provident Societies Act 1967 (c. 48) , s. 7(2)
F133 73 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Annotations:
Amendments (Textual)
F133 S. 73 repealed (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1)(2) , Sch. 3 Pt. III para. 236 , Sch. 4 (with
art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
74 Interpretation—general.
[F134 (1) ]In this Act, except where the context otherwise requires, the following expressions have
the following meanings respectively, that is to say—
“ M10 Act of 1893”, means the Industrial and Provident Societies Act 1893;
“amendment”, in relation to the rules of a registered society, includes a new rule,
and a resolution rescinding a rule, of the society;
[F135 “the Authority” means the Financial Services Authority; ] “committee”, in relation to a society, means the committee of management
or other directing body of the society;

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“Companies Acts” includes the [F136 Companies Act 1985 ], any earlier
enactment for the like purposes which has been repealed, and any law for the
like purposes which is or has been in force in Northern Ireland or any of the
Channel Islands;
“Gazette”, in relation to a registered society, means such one or more of the
following as may be appropriate in the circumstances of the case, that is to say
—
(a) the London Gazette if the society’s registered office is situated, [F137 or the
society carries on business ], in England, Wales or the Channel Islands;
(b) the Edinburgh Gazette if the society’s registered office is situated, [F137 or
the society carries on business ], in Scotland;
(c) the Belfast Gazette if the society’s rules are recorded in Northern Ireland;
“heritable security” has the same meaning as in the M11 Conveyancing
(Scotland) Act 1924 except that it includes a security constituted by ex
facie absolute disposition or assignation;
“land” includes hereditaments and chattels real, and in Scotland, heritable
subjects of whatever description;
“meeting”, in relation to a society, includes, where the rules of that society
so allow, a meeting of delegates appointed by members;
“officer”, in relation to a registered society, includes any treasurer, secretary,
member of the committee, manager or servant of the society other than a servant
appointed by the society’s committee, but does not include an [F138 auditor
appointed by the society in accordance with the requirements of the M12 Friendly
and Industrial and Provident Societies Act 1968 ];
“persons claiming through a member”, in relation to a registered society,
includes the heirs, executors or administrators and assignees of a member and,
where nomination is allowed, his nominee;
“prescribed” means prescribed by regulations under section 71 of this Act;
“property” includes all real, personal or heritable and moveable estate,
including books and papers;
“registered” in relation to the name or an office of a society means for the
time being registered under this Act;
“registered rules”, in relation to a registered society, means the rules of the
society registered or deemed to be registered under this Act as for the time being
in force after any amendment thereof so registered;
“registered society” means, subject to section 76 of this Act, a society
registered or deemed to be registered under this Act.
[F139 (2) Any reference in this Act to the seal of the Authority is a reference to the seal provided
for in regulations made under section 109(1)(b) of the Friendly Societies Act 1974 (and
not to the Authority’s common seal), and any reference to a document sealed by the
Authority is a reference to a document sealed with that seal. ] Annotations:
Amendments (Textual)
F134 S. 74 re-numbered as s. 74(1) (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 237
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F135 Definition in s. 74(1) inserted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para.
237(a) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)

48 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
F136 Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27) , s.
30, Sch. 2
F137 Words in paragraphs (a) and (b) in definition in s. 74(1) substituted (1.12.2001) by S.I. 2001/2617 , arts.
2(b) , 13(1) , Sch. 3 Pt. III para. 237(b) (with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F138 Words substituted by Friendly and Industrial and Provident Societies Act 1968 (c. 55) , Sch. 1 para. 11
F139 S. 74(2) inserted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 237(c) (with art.
13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C64 Ss. 67 , 70, 71, 72–74 applied by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 31(2)
Marginal Citations
M10 1893 c. 39 .
M11 1924 c. 27 .
M12 1968 c. 55 .
75 Channel Islands.
(1) Subject to any express provision of this Act with respect to the Channel Islands, this
Act in its application to those Islands shall have effect subject to such adaptations and
modifications as Her Majesty may by Order in Council specify.
(2) Any Order in Council under the foregoing subsection may be varied or revoked by a
subsequent Order in Council so made.
Annotations:
Extent Information
E2 By s. 78(2) it is provided that this Act extends to the Channel Islands but does not extend to Northern
Ireland
76 Northern Ireland societies.
(1) Where, in the case of any society for the time being registered under the law for the
time being in force in Northern Ireland for purposes corresponding to those of this Act,
copies of that society’s rules so registered have been sent to the [F140 Authority to be
recorded by it and have been so recorded, then, for the purposes of the operation of this
Act in Great Britain and the Channel Islands ], references to a registered society in such,
but such only, of the provisions of this Act as are specified in subsection (2) of this
section shall, subject to subsection (3) of this section include a reference to that society,
and for the purposes of those provisions that society, those rules and any amendment
of those rules registered and recorded as aforesaid shall in that area be deemed to be a
society, rules or an amendment duly registered under this Act by the [F141 Authority ].
(2) The provisions of this Act referred to in the foregoing subsection are sections 2(2), 3,
5(4), (6) and (7), 6(1)( a), 7(1)( b), (2), (3) and (6), 10(1)( a), 13(3), 14, 15, 16(1)( a)(i),
19(2), 22, 26 to 30, 31( b), 32 to 36, 41, 42, 44(5), 45(1), 50, 51, 52(5), 54, 60 to 62,
64 to 66 and 72.
(3) Nothing in this section shall confer any power or impose any obligation or liability
with respect to the taking or refraining from taking of, or a failure to take, any action
outside Great Britain and the Channel Islands; and in the application of section 45(1)

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 49 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
of this Act by virtue of this section the reference therein to this Act shall be construed
as a reference to the law for the time being in force in Northern Ireland for purposes
corresponding to those of this Act.
(4) In relation to any society for the time being registered as mentioned in subsection (1)
of this section, Article 22 of the M13 Government of Ireland (Companies, Societies, &c.)
Order 1922 shall have effect as if the words from “a society registered in Northern
Ireland” to “United Kingdom, and” and the words “both in their application to the
United Kingdom exclusive of Northern Ireland and” were omitted.
Annotations:
Extent Information
E3 By s. 78(2) it is provided that this Act extends to the Channel Islands but does not extend to Northern
Ireland
Amendments (Textual)
F140 Words in s. 76(1) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 238(a)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
F141 Word in s. 76(1) substituted (1.12.2001) by S.I. 2001/2617 , arts. 2(b) , 13(1) , Sch. 3 Pt. III para. 238(b)
(with art. 13(3) , Sch. 5 ); S.I. 2001/3538 , art. 2(1)
Modifications etc. (not altering text)
C65 S. 76 excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 32(1)
Marginal Citations
M13 S.R. & O. 1922 No. 184 .
77 Repeals and savings.
(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F142
(2) Without prejudice to section 4 of this Act, any regulations, application or notice
made or given and any other thing whatsoever done under or in pursuance of any
of the enactments repealed by this Act shall be deemed for the purposes of this Act
to have been made, given or done, as the case may be, under or in pursuance of
the corresponding provision of this Act; and anything begun under any of the said
enactments may be continued under this Act as if begun under this Act.
(3) So much of any document as refers expressly or by implication to any enactment
repealed by this Act shall, if and so far as the context permits, be construed as referring
to this Act or the corresponding enactment therein.
(4) Nothing in section 4 of this Act or in this section shall be taken as affecting the general
application of section 38 of the M14 Interpretation Act 1889 with regard to the effect of
repeals.
Annotations:
Amendments (Textual)
F142 S. 77(1) , Sch. 5 repealed by Statute Law (Repeals) Act 1974 (c. 22) , Sch. 1 Pt. XI

50 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 Changes to legislation: There are outstanding changes not yet made by the legislation.gov.uk editorial team to Industrial and Provident Societies Act 1965. Any changes that have already been made by theteam appear in the content and are referenced with annotations. (See end of Document for details)
Marginal Citations
M14 1889 c. 63 .
78 Short title, extent and commencement.
(1) This Act may be cited as the Industrial and Provident Societies Act 1965.
(2) This Act extends to the Channel Islands but does not extend to Northern Ireland.
(3) This Act shall come into operation on such day as Her Majesty may by Order in Council
appoint.
Annotations:
Modifications etc. (not altering text)
C66 1.1.1966 appointed under s. 78(3) by S.I. 1965/2051

Industrial and Provident Societies Act 1965 (c. 12)SCHEDULE 1 – Matters to be Provided for in Society’s RulesDocument Generated: 2011-04-04
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S C H E D U L E S
SCHEDULE 1 Section 1.
MATTERS TO BE PROVIDED FOR IN SOCIETY ’S R ULES
Annotations:
Modifications etc. (not altering text)
C67 S. 1 , Sch. 1 excluded by Credit Unions Act 1979 (c. 34, SIF 55:3) , s. 2(1)
1 The name of the society, which shall comply with the requirements of section 5 of this
Act.
2 The objects of the society.
3 The place which is to be the registered office of the society to which all communications
and notices to the society may be addressed.
4 The terms of admission of the members, including any society or company investing
funds in the society under the provisions of this Act.
5 The mode of holding meetings, the scale and right of voting, and the mode of making,
altering or rescinding rules.
6 The appointment and removal of a committee, by whatever name, and of managers or
other officers and their respective powers and remuneration.
7 Determination in accordance with section 6 of this Act of the maximum amount of the
interest in the shares of the society which may be held by any member otherwise than
by virtue of section 6(1)( a), ( b) or ( c) of this Act.
8 Determination whether the society may contract loans or receive moneys on deposit
subject to the provisions of this Act from members or others; and, if so, under what
conditions, under what security, and to what limits of amount.
9 Determination whether the shares or any of them shall be transferable, and provision for
the form of transfer and registration of the shares, and for the consent of the committee
thereto; determination whether the shares of any of them shall be withdrawable, and
provision for the mode of withdrawal and for payment of the balance due thereon on
withdrawing from the society.
10 Provision for the audit of accounts by one or more [F143 auditor appointed by the society
in accordance with the requirements of the Friendly and Industrial and Provident
Societies Act 1968 ].
Annotations:
Amendments (Textual)
F143 Words substituted by Friendly and Industrial and Provident Societies Act 1968 (c. 55) , Sch. 1 para. 12

52 Industrial and Provident Societies Act 1965 (c. 12) SCHEDULE 2 – Form of Statement by Society Carrying on Banking Document Generated: 2011-04-04
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11 Determination whether and, if so, how members may withdraw from the society, and
provision for the claims of the representatives of deceased members, or the trustees
of the property of bankrupt members or, in Scotland, members whose estate has been
sequestrated, and for the payment of nominees.
12 The mode of application of profits of the society.
13 Provision for the custody and use of the society’s seal.
14 Determination whether and, if so, by what authority, and in what manner, any part of
the society’s funds may be invested.
SCHEDULE 2
FORM OF STATEMENT BY SOCIETY C ARRYING ON B ANKING
1 Capital of the society:—
(a) nominal amount of each share;
(b) number of shares issued;
(c) amount paid up on shares.
2 Liabilities of the society on 1st January or 1st July last previous:—
(a) on judgments;
(b) on specialty;
(c) on notes or bills;
(d) on simple contract;
(e) on estimated liabilities.
3 Assets of the society on the same date:—
(a) government securities (stating them);
(b) bills of exchange and promissory notes;
(c) cash at the bankers;
(d) other securities.
SCHEDULE 3 Sections 33, 34, 35.
FORM OF R ECEIPT ON M ORTGAGE , H ERITABLE SECURITY , E TC .
PART I
Forms applicable in England and Wales
Form A
The Limited hereby acknowledges to have received all moneys intended to be secured by the
[within (or above) written] [annexed] deed [and by a further charge dated, etc., or otherwise as
required ].
Dated this day of

Industrial and Provident Societies Act 1965 (c. 12)SCHEDULE 3 – Form of Receipt on Mortgage, Heritable Security, Etc.Document Generated: 2011-04-04
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Members of the Committee.
Secretary.
Form B
The Limited hereby acknowledges that it has this day of received the sum of pounds representing
all moneys intended to be secured by the [within (or above) written] [annexed] deed [and by
a further charge dated, etc. or otherwise as required ], the payment having been made by C.D.
of and E.F. of
Members of the Committee.
Secretary.
Note. If the persons paying are not entitled to the equity of redemption but are paying the money
out of a fund applicable to the discharge of the mortgage or other assurance, insert a statement
to that effect.
A statement may also be inserted as to whether the receipt is or is not to operate as a transfer
of the benefit of the mortgage or other assurance.
PART II
Forms applicable in Scotland
Form C
The Limited acknowledges that (1) the foregoing disposition granted by A (with consent) in
favour of the said society dated and recorded in the Division of the General Register of Sasines
for on was granted in security only of a loan of pounds made by the said society to the said ,
and (2) the said society have received repayment of all moneys secured by the said disposition.
[F144 Testing clause+
+Note—Subscription of the document by the granter of it will be sufficient for the document
to be formally valid, but witnessing of it may be necessary or desirable for other purposes (see
the Requirements of Writing (Scotland) Act 1995). ] Members of the Committee.
Secretary.
Form D
The Limited acknowledges to have received repayment of all moneys secured by the foregoing
bond and disposition in security [bond and assignation in security] [bond and such other deed
of heritable security as may have been agreed] granted by A in the said society’s favour dated
and recorded in the Division of the General Register of Sasines for on
[F144 Testing clause+
+Note—Subscription of the document by the granter of it will be sufficient for the document
to be formally valid, but witnessing of it may be necessary or desirable for other purposes (see
the Requirements of Writing (Scotland) Act 1995). ] Members of the Committee.

54 Industrial and Provident Societies Act 1965 (c. 12) SCHEDULE 4 – Forms of Bond for Officers of Society Document Generated: 2011-04-04
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Secretary.
Form E
The Limited hereby acknowledges to have received repayment of all moneys secured by the
foregoing [ describe deed ] by A in the said society’s favour.
[F144 Testing clause+
+Note—Subscription of the document by the granter of it will be sufficient for the document
to be formally valid, but witnessing of it may be necessary or desirable for other purposes (see
the Requirements of Writing (Scotland) Act 1995). ] Members of the Committee.
Secretary.
SCHEDULE 4 Section 41.
FORMS OF B OND FOR O FFICERS OF SOCIETY
PART I
Forms applicable in England, Wales and the Channel Islands
Form A
Know all men by these presents, that we, A.B ., of, one of the officers of the Limited, herein-
after referred to as “the Society,” whose registered office is at in the country of , and C.D ., of
(as surety on behalf of the said A.B. ), are jointly and severally held and firmly bound to the said
society in the sum of , to be paid to the said society, or its certain attorney, for which payment
well and truly to be made we jointly and severally bind ourselves, and each of us by himself,
our and each of our heirs, executors, and administrators, firmly by these presents. Sealed with
our seals. Dated the day of
Whereas the above-bounden A.B. has been duly appointed to the office of of the Society, and he,
together with the above-bounden C.D. as his surety, have entered into the above-written bond,
subject to the condition herein-after contained: Now therefore the condition of the above-written
bond is such, that if the said A.B. do render a just and true account of all moneys received and
paid by him on account of the society, at such times as the rules thereof appoint, and do pay over
all the moneys remaining in his hands, and assign and transfer or deliver all property (including
books and papers) belonging to the society in his hands or custody to such person or persons
as the society or the committee thereof appoint, according to the rules of the society, together
with the proper and legal receipts or vouchers for such payments, then the above-written bond
shall be void, but otherwise shall remain in full force.
Sealed and delivered in the presence of
Form B
Know all men by these presents that I , of , in the county of , am firmly bound to Limited,
herein-after referred to as “the Society,” whose registered office is at, in the county of, in the
sum of pounds sterling to be paid to the said society or its assigns, for which payment to be truly

Industrial and Provident Societies Act 1965 (c. 12)SCHEDULE 4 – Forms of Bond for Officers of SocietyDocument Generated: 2011-04-04
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made to the said society or its certain attorney or assigns I bind myself, my heirs, executors, and
administrators, by these presents sealed with my seal.
[And know further that I [we] as surety [sureties] for the above-named principal obligor and such
obligor are jointly and severally bound to the society in the sum aforesaid to be paid to the society
or its assigns, for which payment to be truly made to the society or its certain attorney or assigns
we firmly bind ourselves and each of us and each of our heirs, executors, and administrators by
these presents sealed with our seals.] Dated the day of
The condition of the above-contained bond is that if the said faithfully execute the office of
to the society during such time as he continues to hold the same in virtue either of his present
appointment, or of any renewal thereof if such office is of a renewable character [without
washing, embezzling, losing, misspending, misapplying, or unlawfully making away with any
of the moneys, goods, chattels, wares, merchandise or effects whatsoever of the said society at
any time committed to his charge, custody, or keeping by reason or means of his said office], and
render a true and full account of all moneys received or paid by him on its behalf as and when
he is required by the committee of the society for the time being, and pay over all the moneys
remaining in his hands from time to time, and assign, transfer, and deliver up all securities,
books, papers, property, and effects whatsoever of or belonging to the society in his charge,
custody, or keeping, to such person or persons as the said committee may appoint, according
to the rules or regulations of the society for the time being, together with the proper or legal
receipts or vouchers for such payments; and in all other respects well and faithfully perform and
fulfil the said office of to the society according to the rules thereof, then the above-contained
bond shall be void and of no effect; but otherwise shall remain in full force.
Sealed and delivered by the above-named
[The words between brackets against which we have set out initials being first struck out F145 ] in the presence of us
and
PART II
Form applicable in Scotland
Form C
I,A.B ., of , hereby bind and oblige myself to the extent of £ as cautioner for C.D ., a person
employed by the society, that he, the said C.D ., shall on demand faithfully and truly account for
all moneys received and paid to him for behoof of the said society, and also assign and transfer
or deliver all property (including books and papers) belonging to the said society in his hands or
custody, and that to such person or persons as the said society or the committee thereof appoint,
according to the rules of the said society.
[F146 Testing clause+
+ Note—Subscription of the document by the cautioner will be sufficient for the document to
be formally valid, but witnessing of it may be necessary or desirable for other purposes (see the
Requirements of Writing (Scotland) Act 1995). ] Signature of cautioner.

56 Industrial and Provident Societies Act 1965 (c. 12) SCHEDULE 5 – Document Generated: 2011-04-04
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F., witness.
G.H., witness.
F147 SCHEDULE 5
Annotations:
Amendments (Textual)
F147 S. 77(1) , Sch. 5 repealed by Statute Law (Repeals) Act 1974 (c. 22) , Sch. 1 Pt. XI
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Industrial and Provident Societies Act 1965 (c. 12)Document Generated: 2011-04-04 57 Changes to legislation:
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and Provident Societies Act 1965. Any changes that have already been made by the team appear
in the content and are referenced with annotations.
Changes and effects yet to be applied to the whole Act, associated Parts and
Chapters:
– Act Act renamed by 2010 c. 7
– S.S.I. 2006/212 commences (2006 asp 2)
– S.I. 2003/2678 commences (2003 c. 15)
– S.I. 2004/2304 commences (2004 c. 21)
– S.I. 2004/3322 commences (1989 c. 40 and 2004 c. 27)
– S.I. 2005/3175 commences (2004 c. 33)
– S.I. 2006/3428 commences (2006 c. 46. This SI is amended by SI 2007/3495 and SI
2008/2860)
– S.I. 2007/1897 commences (2005 c. 9)
– S.I. 2007/309 commences (2006 c. 50)
– S.I. 2008/2860 commences (2006 c. 46. This SI is amended by SI 2009/1802, SI
2009/1941 and SI 2009/2476)
– S.I. 2009/296 commences (2009 c. 1)
– S.I. 2009/36 commences (2007 c. 26)
– S.I. 2010/862 commences (2008 c. 17)
– S.I. 2004/2917 commences (2004 c. 21)
– Act amendment to earlier affecting provision SI 1993/3245 Sch. by S.I. 2005/1985
– Act applied (with modifications) by 2010 asp 17
– Act applied (with modifications) by S.I. 2006/264
– Act applied (with modifications) by SI 2005/1788 reg. 6A(a) (as inserted) by S.I.
2009/1942
– Act excluded by 2010 asp 17
– Act excluded by 2008 c. 17
– Act extended by S.I. 2003/1633
– Act inserted by 2003 c. 15
– Act inserted by 2010 c. 7
– Act inserted by S.I. 2010/866
– Act omitted by S.I. 2009/1941
– Act power to amend conferred by 2006 c. 46
– Act power to amend conferred by 2009 c. 1
– Act power to amend or repeal conferred by 2010 c. 7
– Act power to modify conferred by 2004 c. 27
– Act power to modify conferred by 2007 c. 26
– Act repealed by 2006 asp 2
– Act repealed by 2003 c. 15
– Act substituted by 2003 c. 15
– Act substituted by 2004 c. 21
– Act substituted by 2005 c. 9
– Act substituted by 2010 c. 7
– Act substituted by S.I. 2009/1941
– Act text amended by 2006 asp 2
– Act text amended by 2003 c. 15
– Act text amended by 2003 c. 44
– Act text amended by 2004 c. 21
– Act text amended by 2004 c. 33
– Act text amended by 2006 c. 50
– Act text amended by 2010 c. 7
– Act text amended by S.I. 2007/2194
– Act text amended by S.I. 2008/948

58 Industrial and Provident Societies Act 1965 (c. 12) Document Generated: 2011-04-04 – Act text amended by S.I. 2009/1941