10

INTRODUCTION.

incorporated  under  37  &  38  Yict.  c.  42  («).
They  have  been  long  since  repealed  with  regard
to  Friendly  Societies.  In  1840  it  became  necessary ­
  to  restrict  the  privileges  of  exemption  from
stamp  duty  and  of  investment  with  the  National
Debt  Commissioners  to  such  societies  only  as  did
not  grant  assurances  exceeding  £.200  (3  &  4  Yict.
c.  73).
15.  In  1846  considerable  alterations  were  made
in  the  law  relating  to  Friendly  Societies.  The
barrister  certifying  the  rules  was  constituted  the
“  Registrar  of  Friendly  Societies.”  The  rules,
which  had  theretofore  been  filed  with  the  clerk  of
the  peace  in  each  county,  were  to  be  collected
together  and  taken  charge  of  by  the  Registrar.
He  was  authorized  to  transfer  the  property  of  a
society  from  an  incapable  or  absent  trustee;  to
settle  disputes;  to  require  the  production  of
documents,  and  to  administer  oaths.  An  actuarial
certificate  was  to  be  obtained  before  any  society
could  be  registered  “  for  the  purpose  of  securing
any  benefit  dependent  on  the  laws  of  sickness
and  mortality.”  No  insurance  was  to  be  effected
on  the  life  of  a  child  under  six  years  of  age.  The
objects  for  which  a  Friendly  Society  might  be
formed  were  afresh  defined  and  largely  extended
so  as  to  include  the  frugal  investment  of  savings
(under  which  class  what  are  now  denominated
co-operative  societies  were  established)  and  in-(a)
  As  to  the  Law  of  Building  Societies  under  this
statute,  and  of  Benefit  Building  Societies  under  that  of
1836,  see  Scratchley  and  Brabrook  on  the  Law  of  Building
Societies.  (Shaw  &  Sons,  1875.)