92
38 & 39 Vict. Cap. 60, s. 24.
amalgamates with, or transfers all its engagements to a
■company, the registry of such society under this Act there
upon becomes void, and the same shall he cancelled by the
chief registrar or by the assistant registrar for Scotland or
Ireland under his direction; but the registration of a
society as a company shall not affect any right or claim for
the time being subsisting against such society, or any
penalty for the time being incurred by such society; and
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 every such right or claim, or the liability
to such penalty, lias priority, as against the property of
such company, over all other rights or claims against or
liabilities of such company (a).
Proviso as to friendly societies.—Provided as follows as
respects friendly societies :—
(rt.) No special resolution by any society for any amal
gamation or transfer of engagements under this
section is valid unless five-sixths in value (to be
calculated as for dissolution) of the members
assent thereto, either at the meetings at which
such resolution is passed and confirmed, or one of
them, or in writing, if such members were not
present thereat, nor without the written consent
of every person for the time being receiving or
entitled to any relief, annuity, or other benefit
from the funds of the society, unless the claim of
such person be first duly satisfied, or adequate
provision be made for satisfying such claim :
(b.) The provisions hereinafter contained in case of dis
solution as to the punishment of officers and the
remedy of members or persons dissatisfied with
the provision made for satisfying their claims,
shall apply to the case of amalgamation and
transfer of engagements:
(a) This provision is new.