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The Pamphlet Collection of Sir Robert Stout: Volume 45

Amendment of section 13 of "The Friendly Societies Act, 1877."

Amendment of section 13 of "The Friendly Societies Act, 1877."

7. The following subsections shall be read and construed as part of section thirteen of the said Act, and as if they were subsections thereto occurring immediately before subjection two of that section:—
(1.)In all registered societies and branches all moneys received or paid on account of each particular fund shall be kept separate and distinct, and shall be entered in a separate account distinct from the moneys received and paid on account of any other fund, and a separate fund or funds shall be established for the payment of all expenses of management, and of all expenses (if any) on account of medical and surgical attendance, including medicine and medical and surgical requisites.
(2.)No transfer shall be made of the moneys of any one benefit fund to meet the liabilities of any other fund, nor shall such moneys, or interest accruing therefrom, be in any manner applied for the use, whether temporary or permanent of any fund save the fund to which they properly belong.

If any valuer, in any report made in accordance with section five of this Act, shall report that such transfer can be safely made, it shall be lawful to make such transfer accordingly.