Act No. 73, 1901. An Act to further amend the law relating- to Friendly Societies. [28th December, 1901.]
E it enacted b y t h e K i n g ' s M o s t E x c e l l e n t Majesty, by a n d w i t h t h e advice a n d c o n s e n t of t h e Legislative Council a n d Legislative A s s e m b l y of N e w S o u t h W a l e s in P a r l i a m e n t assembled, a n d b y t h e a u t h o r i t y of t h e same, as follows :-- 1. This A c t shall be c o n s t r u e d as one w i t h t h e F r i e n d l y Societies A c t , 189!) (hereinafter called t h e P r i n c i p a l A c t ) , a n d t h e F r i e n d l y Societies ( A m e n d m e n t ) A c t , 1900, a n d m a y be cited as t h e " F r i e n d l y Societies ( F u r t h e r A m e n d m e n t ) Act, 1 9 0 1 . " 2. (1) T h e r e g i s t r a r m a y r e g i s t e r a n y such society as is m e n t i o n e d i n section twelve of t h e P r i n c i p a l A c t , and subsisting at t h e c o m m e n c e  m e n t of t h a t Act, n o t w i t h s t a n d i n g t h a t t h e provisions of t h a t section h a v e n o t been complied w i t h , if t h e rules of t h e society p r o v i d e -- (a) t h a t separate a n d distinct a c c o u n t s shall b e k e p t of t h e contri b u t i o n s to a n d p a y m e n t s from t h e f u n d s p a y a b l e in case of sickness or d e a t h respectively by a n d t o -- (i) t h e m e m b e r s of t h e society before t h e d a t e of registration under the Principal A c t ; and (ii) 2Q

B

(ii) t h e m e m b e r s j o i n i n g t h e society after s u c h d a t e ; (b) t h a t t h e rates of c o n t r i b u t i o n to be c h a r g e d s u b s e q u e n t to t h a t d a t e i n respect of persons who are m e m b e r s a t s u c h date shall n o t b e lower t h a n those c h a r g e a b l e a t s u c h d a t e ; (c) t h a t t h e m e m b e r s j o i n i n g t h e society after such d a t e shall c o n t r i b u t e u n d e r a scale of c o n t r i b u t i o n s to be certified b y a n a c t u a r y w h o h a s exercised his profession for a t least live years, or b y a G o v e r n m e n t a c t u a r y . (2) E v e r y society registered i n p u r s u a n c e of t h e provisions of t h i s section shall r e t a i n its r e g i s t r a t i o n u n t i l t h e e x p i r a t i o n of t h r e e m o n t h s after t h e d a t e on w h i c h t h e society receives a n a b s t r a c t of t h e . r e s u l t s of t h e q u i n q u e n n i a l v a l u a t i o n n e x t following s u c h r e g i s t r a t i o n , a n d no l o n g e r : P r o v i d e d t h a t t h e R e g i s t r a r m a y a g a i n register t h e s o c i e t y -- (a) if it appears from s u c h v a l u a t i o n t h a t t h e society h a s i m p r o v e d its financial position i n respect of persons w h o were m e m b e r s a t t h e date of t h e last p r e c e d i n g r e g i s t r a t i o n ; or (b) t h o u g h it appears t h a t t h e society h a s n o t so i m p r o v e d its financial position, if t h e r u l e s of t h e society provide t h a t t h e r a t e s of c o n t r i b u t i o n to be c h a r g e d in respect of such m e m b e r s are s u c h as a n a c t u a r y w h o h a s exercised his profession for a t least five y e a r s certifies. 3. T h e p e r i o d of t w e l v e m o n t h s m e n t i o n e d in section n i n e t y - o n e of t h e P r i n c i p a l A c t shall b e d e e m e d t o h a v e b e e n a n d to be a period of t w o y e a r s a n d six m o n t h s .