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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INTRODUCTION. . 5 provision for themselves or their families out of the fruits of their otvn industry. By the contri bution of the savings of many persons to one common fund the most effectual provision may he made for the casualties affecting all the contribu tors ; and it is therefore desirable to afford further facilities and additional security to persons avIio may be willing to unite in appropriating small sums from time to time to a common fund for the purposes aforesaid, and it is desirable to protect such persons against the effects of fraud or mis calculation ” (b). The preamble went on to recite that the provisions of preceding Acts had been found insufficient for these purposes, and great abuses had prevailed in many societies established under their authority. 7. The statute proceeded to define a Friendly Society as “ an institution whereby it is intended to provide by contribution, on the principle of mutual insurance, for the maintenance or assist ance of the contributors thereto, their wives or children, in sickness, infancy, advanced age, widoAV- liood, or any other natural state or contingency, whereof the occurrence is susceptible of calcula tion by way of average.-” Not only the rules but also the tables were to be thenceforth submitted to justices, who, before confirming them, were to satisfy themselves that the contingencies which (b) It Avill be observed that though the problem of Iioav to keep a society sound was present to the legislature from a very early time, the expedient of a periodical valuation was not adopted till the Act of 1875 was passed.

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