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INDUSTRIAL AND PROVIDENT SOCIETIES ACT (NORTHERN IRELAND) 1969 - SECT 10

Rules as to fund for purchase of government securities.

10.(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, national savings certificates, Ulster savings certificates or such
other securities of the Government of the United Kingdom or the Government of
Northern Ireland as may for the time being be prescribed by the Ministry for
the purpose; 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 passing of this Act, was included
among the registered rules of a registered society by virtue of section 7(3)
of the Societies (Miscellaneous Provisions) Act (Northern Ireland) 1940 shall
have effect as if it had been duly passed by the society.

© 1969 Crown Copyright

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