(c) The registrar shall require the applicants to give security for the costs of the proposed inspection (d) All expenses of and incidental to the inspection or (3.) Any inspector appointed under this section may re- Power of inspector. quire the production of all or any of the books, accounts, securities, and documents of the society, and may examine on oath its officers, members, agents, and servants in relation to its business, and may administer an oath accordingly. special meeting. (4.) The registrar may direct at what time and place a Time and place of special meeting under this section is to be held, and what matters are to be discussed and determined at the meeting, and the meeting shall have all the powers of a meeting called according to the rules of the society, and shall in all cases have power to appoint its own chairman, any rule of the society to the contrary notwithstanding. (5.) The registrar may, without any application by members, but with the consent of the Colonial Secretary given on each occasion, exercise the powers given by this section in the following cases: (a) Where a society has, for two months after notice, (b) Where a society has, for two months after notice, (c) Where evidence is furnished by a statutory declara- Provided that the registrar shall forthwith, on Power to call special inspector without sub-s. (1). meeting or appoint application, under Cancelling and suspension of registration. Ibid, s. 6. Notice of intention to suspend or cancel registration. Appeal. Cancellation at request of society. Effect of cancellation or suspension. 38. (1.) Where the registrar is satisfied that a certificate of incorporation has been obtained for a building society by fraud or by mistake, or that any such society exists for an illegal purpose, or has wilfully and after notice from the registrar violated any of the provisions of this Act, or has ceased to exist, the registrar may, by writing under his hand, with the approval of the Colonial Secretary, cancel the registration of the society, or suspend the registration thereof for any term not exceeding three months, and may with the like approval, renew such suspension from time to time for the like period. (2.) The registrar shall, before cancelling or suspending the registration of a society under the foregoing powers, give to the society not less than two months' previous notice in writing, specifying the grounds of the proposed cancelling or suspension, and shall, as soon as practicable after the cancelling or suspension takes place, cause notice thereof to be published in the Gazette. (3.) A society may appeal from the cancelling of its registration, or from any suspension thereof, to the Supreme Court, and thereupon the court may, if it thinks it just so to do, set aside the cancellation or suspension. (4.) The registrar may also, if he thinks fit, at the request of any society under this Act, evidenced in such manner as he may direct, cancel the registration of the society. (5.) A society whose registration has been cancelled or suspended shall from the time of such suspension or cancellation (but in case of suspension, only while the suspension lasts, and in any case subject to the right of appeal given by this section) absolutely cease to enjoy as such the privileges of a society under this Act, but without prejudice to any liability actually incurred by the society, and any such liability may be enforced against the society as if the cancelling or suspension had not taken place. (6.) Any mortgage to a society whose registration has been cancelled or suspended may, on payment of the principal money and interest, be discharged by a memorandum of satisfaction under the hand, or a re-conveyance under the hand and seal, of the Colonial Treasurer, but, in the case of suspension, only while the suspension lasts. society after Ibid, s. 7. 39. (1.) On the application in writing of one-tenth of the Power to dissolve whole number of members of any society under this Act, investigation. setting forth that the society is unable to meet the claims of its members, and that it would be for their benefit that it should be dissolved, and requesting an investigation into the affairs of the society with a view to the dissolution thereof, the registrar may investigate the affairs of the society, but shall before so doing give not less than two months' previous notice in writing to the society at its registered office or place of meeting. (2.) If on such investigation it appears that the society is unable to meet the claims of its members, and that it would be for their benefit that it should be dissolved, the registrar may, if he considers it expedient so to do, award that the society be dissolved, and shall direct in what manner the affairs of the society are to be wound up: Provided that the registrar may suspend his award for such period as he may deem necessary to enable the society to make such alterations of its rules as will in his judgment prevent the necessity of the award being made. (3.) The registrar shall, within twenty-one days after the making of any award for dissolution under this section, cause notice thereof to be advertised in the Gazette. trustees in case of liquidators and 40. Where a society under this Act is being dissolved, the obligation of provisions of this Act shall continue to apply in the case of the society as if the official liquidator or the liquidators or other persons conducting the dissolution of the society were the committee of management of the society. 41. When a society under this Act is being dissolved or wound up, a member or other person to whom an advance has been made under any mortgage or other security or under the rules of the society, shall not be liable to pay the amount payable under the mortgage or other security or rules, except at the time or times or subject to the conditions therein expressed. dissolution. Liability of borrowers in event Ibid, s. 10. of dissolution. balance sheet to be dissolution. 42. If a society under this Act is dissolved in manner pre- Account and scribed by its rules, the liquidators, trustees, or other persons sent to registrar on having the conduct of the dissolution shall, within twenty- Ibid, s. 11. eight days from the termination of the dissolution, send to the registrar an account and balance sheet signed and Provision as to name and deposits. Ibid, s. 15. Penalties for breach of Act. 37 & 38 Vict., c. 42, s. 43. 57 & 58 Vict., c. 47, s. 28. Offences. 37 & 38 Vict., c. 42, s. 31. 57 & 58 Vict., c. 47, s. 18. certified by them as correct, and showing the assets and liabilities of the society at the commencement of the dissolution and the mode in which those assets and liabilities have been applied and discharged, and in default of so doing shall be liable on summary conviction to a penalty not exceeding five pounds for every day during which the default continues. 43. (1.) A society under this Act shall not use any name or title other than its registered name, and shall not accept any deposit except on the terms that not less than one month's notice may be required by the committee of management before repayment or withdrawal. (2.) If a society contravenes this section, the society and also every member of the committee of management who is party to the contravention shall be liable on summary conviction to a penalty not exceeding ten pounds, and in case of a continuing offence to an additional penalty not exceeding ten pounds for every week during which the offence continues. 44. (1.) If any society hereafter formed under this Act, or any persons representing themselves to be a society under this Act, commence business without first obtaining a certificate of incorporation under this Act, the person or persons by whom such business shall have been so commenced shall, for every day business is carried on, be liable upon summary conviction, on the complaint of the registrar, to a penalty of not more than five pounds. (2.) If any society under this Act receives loans or deposits in excess of the limits prescribed by this Act, every member of the committee of management of such society receiving such loans or deposits on its behalf shall be personally liable for the amount so received in excess. 45. (1.) If any person whomsoever, by false representation or imposition, obtains possession of any moneys, securities, books, papers, or other effects of a society under this Act, or, having the same in his possession, withholds or misapplies the same, or wilfully applies any part thereof to purposes other than those expressed or directed in the rules of the society and authorised by this Act, he shall be liable on summary conviction to a penalty of not more than twenty pounds, and to be ordered to deliver up to the society, or to any person named in the order, all such moneys, securities, books, papers, or other effects of the society, or to repay the or amount of money applied improperly, and in default of such delivery of effects, or repayment of such amount of money, payment of such penalty to be imprisoned, with or without hard labour, for a term of not more than three months; but nothing herein contained shall prevent any such person from being prosecuted under any law now or hereafter to be in force, if a conviction has not been previously obtained against him for the same offence under the provisions of this Act. (2.) Proceedings under this section may be taken by or at the instance of (a) the society; or (b) any member authorised by the society, or by the (c) the registrar. 46. If any society under this Act neglects or refuses-- (b) to do any act or furnish any information required 47. If any person wilfully makes, orders, or allows to be made any false statement in any document required by this Act to be sent to the registrar, or by erasure, omission, or otherwise wilfully falsifies any such document, he shall be liable on summary conviction to a fine not exceeding fifty pounds. 48. No director, secretary, surveyor, or other officer of a society under this Act shall, in addition to the remuneration prescribed or authorised by the rules of the society, receive |