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INDUSTRIAL AND PROVIDENT SOCIETIES ACT (NORTHERN IRELAND) 1969 - SECT 1

1.(1) The societies which may be registered under this Act are

(a)subject to sections 2(1), 7(1) and 78(4), a society for carrying on any
industry, business or trade (including dealings of any description with land),
whether wholesale or retail, if

(i)it is shown to the satisfaction of the registrar that one of the conditions
specified in subsection (2) is fulfilled; and

(ii)the society's rules contain provisions in respect of the matters mentioned
in Part I of Schedule 1; and

<(iii)the place which under those rules is to be the society's registered office is situate in Northern Ireland;


(b)a society which may, by virtue of section 78(1), be registered as a
credit union.

(2) The conditions referred to in subsection (1)(a)(i) are

(a)that the society is a bona fide co-operative society;

(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 Companies Act (Northern Ireland) 1960.

(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.

Registration of society.

© 1969 Crown Copyright

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