The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

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Monograph

Identifikator:: 875232663

URN:: urn:nbn:de:zbw-retromon-2698

Document type:: Monograph

Title:: The law of friendly societies, and industrial and provident societies, with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index

Place of publication:: with the acts, observations thereon, forms of rules etc., reports of leading cases at length, and a copious index$gTenth edition, revised and enlarged

Publisher:: Shaw and Sons

Year of publication:: 1881

Scope:: 1 Online-Ressource (XII, 303 Seiten)

Digitisation:: 2017

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Friendly societies not registered

Collection:: Economics Books

142 FRIENDLY SOCIETIES NOT REGISTERED. modern legislation to rely on the procedure for a common law misdemeanor alone. Usually, provision is made for meeting disobedience to the injunctions of a statute by an appropriate penalty ; but no such provision is contained in the Companies Acts with regard to the prohibition of un registered companies. A question of more practical weight p>robably than the one of criminal liability is that of the means which persons, joining an unregistered society, have of enforcing their claims against the officers or persons whom they trust. No court would give effect to the rules of a society which by its constitution was illegal, or would recognize the asso ciation in any way as an aggregate body, and it might be doubted whether even Russell Gurney’s Act, beneficial as its operation is, would avail to protect the members of such an association, if its illegality were proved. A further consequence of illegality in a contract of partnership is that the members have no remedy against each other, for contribution or apportionment in respect of the partnership dealings and transactions. (2nd.) By the Life Assurance Companies Act, 1870 (33 & 34 Viet. c. 61), it is declared that “the term ‘ Company’ means any person or persons, corporate or incorporate, not being registered under the Acts relating to Friendly Societies, who issue or are liable under policies of assurance upon human life within the United Kingdom, or who grant annuities upon human life within the United Kingdom.” Every such company which does not comply with the prolusions of that statute is made liable to heavy penalties. The commissioners remark that the word policy has no technical meaning. In an Irish case, Sugden, C. (a), is reported to have said that a policy is nothing but an engagement by the directors that the funds of the company are liable to pay a certain sum of money upon a given event. It is certainly not to be supposed that a society which contracts for a payment of a sum at death can relieve itself of the responsibility of complying with the provisions (a) Since Lord St. Leonards ; Phillips v. Fastwooil, Lloyd & Gould, 291.

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