Power of nomination for sums not exceeding fifty pounds.

(3.) A member of a society or registered branch (other than a benevolent society, registered branch, or working men's club), not being under the age of sixteen years, may, by writing under his hand delivered at or sent to the registered office of the society or registered brand), nominate any person, not being an officer or servant of the society or registered branch, unless such officer or servant is the husband, wife, father, mother, child, brother, sister, nephew, or niece of the nominator, to whom any moneys payable by the society or registered branch on the death of such member, not exceeding fifty pounds, shall be paid at his decease, and may from time to time revoke or vary such nomination by a writing under his hand similarly delivered or sent; and on receiving satisfactory proof of the death of the nominator, the society or registered branch shall pay to the nominee the amount due to the deceased member, not exceeding the sum aforesaid.