Source: http://www.legislation.gov.uk/ukpga/1992/40/section/90
Timestamp: 2019-10-16 13:39:25
Document Index: 47813217

Matched Legal Cases: ['art. 13', 'art. 2', 'art. 13', 'art. 2', 'art. 13', 'art. 2', 'art. 13', 'art. 2', 'art. 13', 'art. 2', 'art. 13', 'art. 2', 'art. 13', 'art. 2']

Transfers of engagements
s. 90(1)(2) words substituted by S.I. 2013/496 Sch. 9 para. 39(2)
s. 90(3)-(7) words substituted by S.I. 2013/496 Sch. 9 para. 39(4)
s. 90(10)(11) word substituted by S.I. 2013/496 Sch. 9 para. 39(6)
90 Power of [F1Authority]to effect transfer of engagements.U.K.
(1)Subject to the following provisions of this section the [F1Authority] may give a direction under this section (“a direction”) providing for the transfer of such of the engagements of a friendly society (“the society”) as are specified in the order to a person so specified (“the transferee”).
(2)The [F1Authority]may give a direction if—
(a)it considers that—
(i)the society is unable to manage its affairs satisfactorily in relation to the engagements specified in the order; and
(ii)a transfer of those engagements would be expedient to protect the interests of the members of the society; and
(b)the proposed transferee has complied with paragraph 1 of Schedule 15 to this Act and has resolved to undertake to fulfil the engagements by special resolution or, if the [F1Authority] consents to that mode of proceeding, by resolution of the committee of management;
but the [F1Authority] may direct that paragraph (b) above shall be modified in relation to a particular proposed transfer (but not to permit a society to resolve to undertake to fulfil the engagements by less than a majority or more than a three-quarters majority of those voting).
(3)The [F1Authority] may not give a direction if, were the transfer to be proposed to be made under section 86 above, it would be precluded from confirming it by [F2paragraph 11 or] any provision of paragraphs 13 to 17 of Schedule 15 to this Act.
(4)[F3At the same time as giving a warning notice to the society in accordance with section 58A(1) in relation to its proposal to give a direction, the Authority shall]publish notice of the proposed directioninoneormoreoftheLondonGazette,theBelfastGazetteortheEdinburghGazette,asitthinksappropriate,and,ifitthinksappropriate,inoneormorenewspapers
(5)A notice published in pursuance of subsection (4)(b) above shall—
(a)state that any interested party has the right to make representations to the [F4Authority] with respect to the proposed direction;
(b)specify a date determined by the [F4Authority] before which any written representations or notice of a person’s intention to make oral representations must be received by the [F4Authority]; and
(c)specify a date determined by the [F4Authority] as the day on which it intends to hear any oral representations.
(6)After the date specified in pursuance of subsection (5)(b) above, the [F4Authority] shall—
(a)determine the time and place at which oral representations may be made;
(b)give notice of that determination to the society and the proposed transferee and to any persons who have given notice of their intention to make oral representations; and
(c)send copies of the written representations received by the [F4Authority]to the society concerned and the proposed transferee.
(7)[F5Before the Authority decides whether to give the society a decision notice in accordance with section 58A(3),]the [F4Authority] shall allow the society and the proposed transferee an opportunity to comment on the written representations, whether at a hearing or in writing before the expiration of such period as the [F4Authority] specifies in a notice to it.
(8)[F6IftheAuthoritygivesadirectionitshallkeepacopyofthatdirectionand] shall—
(a)register that copy; and
(b)issue a registration certificate to the transferee;
and the registration certificate shall specify a date as the transfer date for the transfer.
(9)On the transfer date—
(a)the property, rights and liabilities of the society shall by virtue of this subsection become, to the extent provided in the direction, the property, rights and liabilities of the transferee; and
(b)if the transfer is of all the society’s engagements, the society shall be dissolved;
but the transfer shall be deemed to have been effected before any such dissolution.
(10)The [F7Authority] shall keep a copy of a direction and of the registration certificate—
(a)if the transferee is a friendly society, in the public file of that society;
(b)in any other case, in the public file of the society transferring the engagements.
(11)Where a friendly society is dissolved by subsection (9)(b) above, its registration under this Act or the 1974 Act shall be cancelled by the [F7Authority].
F1Words in s. 90(1)-(3) and sidenote substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3, Pt. 1 para. 100(a) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F2Words in s. 90(3) inserted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 100(b) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F3Words in s. 90(4) substituted for s. 90(4)(a) and words (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3, Pt. 1 para. 100(c) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F4Words in s.90(5)-(7) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3, Pt. 1 para. 100(d) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F5Words in s. 90(7) inserted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 100(e) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)
F6Words in S. 90(8) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by virtue of S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 100(f) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1) and also substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 203(4)
F7Words in s. 90(10)(11) substituted (17.8.2001 for specified purposes and otherwise 1.12.2001) by S.I. 2001/2617, arts. 2, 8(1), 13(1), Sch. 3 para. 100(g) (with art. 13(3), Sch. 5); S.I. 2001/3538, art. 2(1)