39 & 40 Vict. Cap. 45, ss. 5—7.
151
under the rules of any society registered or certified (c)
thereunder, before the commencement of this Act.
5. Existing societies.—Every incorporated society now
subsisting whose rules have been registered or certified
under any Act relating to industrial and provident societies,
shall be deemed to be a society registered under this Act,
and its rules shall, so far as the same are not contrary to
■any express provision of this Act, continue in force until
altered or rescinded (d).
6. Societies which may be registered.—The societies which
may be registered under this Act are societies (herein
called industrial and provident societies) for carrying on
■any labour, trade, or handicraft, whether wholesale or
retail, including the buying and selling of land, (e) but as
to the business of banking subject to the provisions herein
after contained, of which societies no member other than a
society registered under this Act shall have or claim an
interest in the funds exceeding two hundred pounds
•sterling.
7. Registry of societies.—With respect to the registry ot
societies, the following provisions shall have effect:
(1.) To consist of seven persons at least.—No society can
he registered under this Act which does not consist of
•-seven persons at least.
(2.) The application for registry.—For the purpose of
registry an application to register the society, signed
(®) The words “ or certified ” appear to be out of place in this
section. They are required in s. 5, which includes societies
existing before the Act of 1862 and never registered under it.
(d) This section cures the defect in the Industrial and Pro
vident Societies Act, 1862, s. 1, by which a society established
under the Acts thereby repealed lapsed into a mere partnership
until it obtained a fresh certificate of registration. See Toutill
V. Douglas, 31 L. J. (Q. B.) 66, and Note K, Appendix.
(e) This was defined to be a trade within the meaning of the
Industrial and Provident Societies Acts by 34 & 35 Vict. c. 80,
s. 5.
