Building Societies Act 1965

19 Alteration of rules

(1)

Any society may alter its rules by special resolution.

(2)

The society must send notice of the alteration, signed by a director and the secretary of the society, to the Registrar for registration within 14 days after the passing of the special resolution.

(3)

The Registrar may refer the alteration to the Solicitor-General to ensure it complies with this Act.

(3A)

If the Solicitor-General considers that the alteration does not comply with this Act, he or she may notify the society of the ways in which it does not comply.

(4)

If the Registrar is satisfied that the alteration complies with this Act, the Registrar must register the alteration.

(5)

The alteration takes effect on registration.

(6)

If the Registrar refuses to register the alteration, the society shall have the same right of appeal to a Judge of the High Court as it would have against a refusal to register rules, and the provisions of section 16 shall apply accordingly.

(7)

Any provision in the rules of a society that the rules may be altered without passing a special resolution shall be void.

(8)

If any society fails to comply with subsection (2), the society, and every officer of the society who is in default, shall be guilty of an offence against this Act.

Compare: 1908 No 18 ss 18, 19, 20; 1955 No 97 ss 2(3), 5(c), (d); Building Societies Act 1962 s 17 (UK)

Section 19(2): replaced, on 20 September 2007, by section 7 of the Building Societies Amendment Act 2007 (2007 No 43).

Section 19(3): replaced, on 20 September 2007, by section 7 of the Building Societies Amendment Act 2007 (2007 No 43).

Section 19(3A): inserted, on 20 September 2007, by section 7 of the Building Societies Amendment Act 2007 (2007 No 43).

Section 19(4): replaced, on 20 September 2007, by section 7 of the Building Societies Amendment Act 2007 (2007 No 43).

Section 19(5): replaced, on 20 September 2007, by section 7 of the Building Societies Amendment Act 2007 (2007 No 43).

Section 19(6): amended, on 1 April 1980, pursuant to section 12 of the Judicature Amendment Act 1979 (1979 No 124).