OF BUILDING SOCIETIES: COMPRISING SOCIETIES UNDER THE ACT OF 1874; SOCIETIES UNDER THE ACT OF AND SOCIETIES NOT REGISTERED; WITH MODEL RULES, A PRACTICAL INTRODUCTION, A COPIOUS INDEX. BY ARTHUR SCRATCHLEY, M.A., Barrister-at-Law; Author of "The Practical Treatise on Building Societies;" AND EDWARD WILLIAM BRABROOK, LONDON: SHAW & SONS, FETTER LANE & CRANE COURT, NOTICE. THE present work is founded on the law as determined by 37 & 38 Vict. c. 42 (1874), for the carrying through of which beneficial Act Building Societies are indebted to the statesman-like efforts and support of the Right Hon. S. H. Walpole and Mr. W. M. Torrens, M.P., and to the unremitting exertions of Mr. J. Higham and the other members of the Building Societies Protection Committee. In the passing of the Act through the House of Lords, an amendment was made, the effect of which is to apply to societies certified under the Act of 1836 (but not incorporated under the new Act), not only the sections given at length in Part II. of this work, but also those in Part I; new societies, and societies incorporated under the new Act, being subject to Part I. only. Our expressed opinion on this point has recently been confirmed by that formally given by the law officers of the Crown, Sir R. Baggallay, Q.C., and Sir J. Holker, Q.C. In consequence of this, it has been announced that Her Majesty's Government, understanding that the amendment in sect. 8 was made in error, are willing to promote a bill to correct it, and to restore the words intended by the draftsman of the Act (see page 14, n.), viz.:-" Every society, the "rules of which have been certified under the "said repealed Act, may obtain a certificate of "incorporation under this Act, and thereupon "shall be deemed to be a society under this Act, "and its rules shall, so far as the same are not con"trary to any express provisions of this Act, "continue in force until altered or rescinded as "hereinafter mentioned." Should such a bill pass into law, the effect would be that the sections given at length in Part II. of this work would alone apply to societies certified under the Act of 1836, and not incorporated under that of 1874; and Part I. would apply to incorporated societies only. |