6

INTRODUCTION.

the  particular  society  was  to  provide  against  were
within  the  true  meaning  and  intent  of  the  Act,
and  that  the  formation  of  the  society  would  he
useful  and  beneficial,  regard  being  had  to  the
existence  of  other  societies  in  the  same  district.
No  tables  or  rules  connected  with  calculation
were  to  be  confirmed  by  the  justices  until  they
had  been  approved  by  two  persons  at  least,  known
to  be  professional  actuaries  or  persons  skilled  in
calculation  (a),  as  fit  and  proper,  according  to  the
most  correct  calculation  of  which  the  nature  of
the  case  would  admit.
8.  The  justices  in  quarter  sessions  were  also
by  this  Act  authorized  to  publish  general  rules
for  the  formation  and  government  of  Friendly
Societies  within  their  county.  Every  society  was
required  to  have  at  least  three  trustees,  of  whom
the  majority  were  to  be  substantial  householders,
rated  at  not  less  than  £50.  No  society  was  to  dissolve ­
  or  to  divide  its  funds  without  the  consent  of
its  trustees,  aud  the  certificate  of  two  professional
actuaries  “  or  persons  skilled  in  calculation/'’
approved  as  such  by  the  justices,  that  “  according
to  the  most  correct  calculation  of  which  the  case
would  admit,”  the  interest  of  all  contributors  and
claimants,  in  possession  or  expectancy,  were  by
the  proposed  scheme  of  dissolution  fairly  dealt
with  and  secured.
9.  In  exchange  for  these  restrictions,  societies
were  allowed  to  invest  their  funds  in  savings

(a)  This  soon  got  to  he  interpreted  in  practice  to  mean
such  persons  as  the  village  schoolmaster.