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  thereupon ­
  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  amalgamation ­
  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  dissolution ­
  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.