38  &  39  Yict.  Cap.  60,  s.  15.

73

for  liquidation,  of  his  affairs  by  assignment  or  arrangement,
or  for  composition  with  his  creditors,  or  becomes  a  lunatic,
or  is  dead,  or  has  been  removed  from  his  office  of  trustee,
or  if  it  be  unknown  whether  such  person  is  living  or  dead,
the  chief  registrar,  on  application  in  writing  from  the  secretary ­
  and  three  members  of  the  society  [or  branch],  and  on
proof  satisfactory  to  him,  may  direct  the  transfer  of  the
stock  into  the  names  of  any  other  persons  as  trustees  for
the  society  [or  branch]  ;  and  such  transfer  shall  be  made
by  the  surviving  or  continuing  trustees,  and  if  there  be  no
Such  trustees,  or  if  such  trustees  refuse  or  be  unable  to
make  such  transfer,  and  the  chief  registrar  so  direct,  then
by  the  Accountant-General  or  Deputy  or  Assistant  Accountant-General ­
  of  the  Bank  of  England  or  Bank  of
Ireland,  as  the  case  may  be  ;  and  the  Governors  and  Companies ­
  of  the  Bank  of  England  and  Bank  of  Ireland  respectively ­
  are  hereby  indemnified  for  anything  done  by
them  or  any  of  their  officers  in  pursuance  of  this  provision
against  any  claim  or  demand  of  any  person  injuriously
affected  thereby  (6).
(7.)  Priority  on  death,  bankruptcy,  &c.,  of  officer.—Upon
the  death,  or  bankruptcy,  or  insolvency  of  any  officer  of  a
society  [or  branch],  having  in  his  possession  by  virtue  of
his  office  any  money  or  property  belonging  to  the  society
[or  branch],  or  if  any  execution,  attachment,  or  other
process  be  issued,  or  action  or  diligence  raised  against  such
officer,  or  against  his  property,  his  heirs,  executors,  or  administrators, ­
  or  trustee  in  bankruptcy  or  insolvency,  or  the
sheriff  or  other  person  executing  such  process,  or  the  party
using  such  action  or  diligence  respectively  shall,  upon
demand  in  writing  of  the  trustees  of  the  society  [or  branch],
or  any  two  of  them,  or  any  person  authorized  by  the  society
  [or  branch],  or  by  the  committee  of  management  of
the  same,  to  make  such  demand,  pay  such  money  and  deliver ­
  over  such  property  to  the  trustees  of  the  society  [or

(b)  This  is  a  re-enactment  of  18  &  19  Viet.  c.  63,  s.  36,  the
privileges  of  which  were  extended  to  building  societies  by  37  &
38  Viet.  c.  42,  s.  26.  See  Tre  usury  regulations  15  to  18  and
Horns  M,  17,  0.
E