This Act may be cited as the Industrial Societies Amendment Act 1987, and shall be read together with and deemed part of the Industrial Societies Act 1908 (hereinafter referred to as the principal Act).

(1) In this section, unless the context otherwise requires,—

(2) Notwithstanding any existing incorporation, any Industrial Society may, at any time before the repeal date, in accordance with the Incorporated Societies Act 1908, become an Incorporated Society.

(3) An Industrial Society shall cease to be an Industrial Society when it becomes an Incorporated Society; but—

• (a) It shall be deemed to be the same society as it was before; and

• (b) Subject to its rules and to the Incorporated Societies Act 1908, its members and officers shall continue to be its members and officers; and

• (c) Its ceasing to be an Industrial Society and becoming an Incorporated Society shall not affect its name, assets, liabilities, rights, or powers.

(4) Subsections (5) to (7) of this section shall come into force on the repeal date.

(5) Every society that, immediately before the commencement of this subsection, was an Industrial Society is hereby dissolved.

(6) On the dissolution of an Industrial Society under subsection (5) of this section, all its surplus assets, after payment of all costs, debts, and liabilities, shall be disposed of—

• (a) If, before its dissolution, it has, by resolution passed at a general meeting, decided on the manner in which the assets are to be disposed of, in that manner; and

• (b) In every other case, in a manner determined by the Governor-General by Order in Council.

(7) The following enactments are hereby repealed:

• (a) The Industrial Societies Act 1908:

• (b) The Industrial Societies Amendment Act 1926:

• (c) The Statutes Amendment Act 1941:

• (d) The Industrial Societies Amendment Act 1963.