A.D. 1923. society or an industrial assurance company shall be deemed to be void by reason only that before 3rd Dec. 1909. Disputes. (a) the person effecting the policy had not, at the time the policy was effected, an insurable interest in the life of the person upon whose life the 5 policy is taken out; or (b) the name of the person interested, or for whose benefit or on whose account the policy was effected, was not inserted in the policy; or (c) the assurance was not one authorised by the Acts 10 if the policy was effected by or on account of a person Disputes. 31.--(1) In all disputes between a collecting society or industrial assurance company, and (a) any member or person assured; or 20 (b) any person claiming through a member or person assured, or under or in respect of any policy, or 25 under the rules, or under this Act; or (c) any person aggrieved who has ceased to be a member or any person claiming through such person aggrieved, that member or person may, notwithstanding any pro- 30 visions of the rules of the society or company to the contrary, apply to the county court, or to a court of summary jurisdiction for the place where that member or person resides, and the court may (but in the case of a court of summary jurisdiction only if the amount of the 35 claim does not exceed twenty-five pounds and not less than fourteen days' notice of the application has been given to the society or company) settle that dispute 59 & 60 Vict. according to the provisions of the Friendly Societies Act, 1896, and where a dispute is settled under this section by 40 a court of summary jurisdiction, the court may make such order as to costs as it considers fair and reasonable: c. 25. 5 10 Provided that any such dispute may be referred to A.D. 1923. the Commissioner (a) by such collecting society, industrial assurance company, meinber or person as aforesaid, if the (b) in any case, by both parties, without restriction and where a dispute is so referred, the Commissioner may deal with the dispute as if it were a dispute referred to him under the provisions of section sixty-eight of the 15 Friendly Societies Act, 1896 and the consent of the Treasury to his dealing therewith had been given. (2) In any case where a doubt arises as to the continued existence of the person on whose life a policy of industrial assurance was taken out, the Commissioner 20 may, on the application of the owner of the policy or of the society or company which issued the policy, award that the society or company shall pay to the owner of the policy the surrender value thereof at the time of the award, and the award shall be a discharge for all claims 25 by or against the society or company in connection with the policy. Provisions as to Collectors, &c. 32. (1) A collector of a collecting society or indus- Disabilities trial assurance company shall not be a member of the of collectors, 30 committee of management, or in the case of a company &c. of the board of directors, or hold any other office in the society or company except that of superintending collectors within a specified area. (2) A collector shall not be present at any meeting of 35 the society or company. ment of 33. A collecting society or industrial assurance com- Restriction pany shall not, nor shall any person employed by such a on employsociety or company, employ any person not being a person in the regular employment of the society or company to 40 procure or endeavour to procure any person to enter into business. persons to procure new A.D. i 23. a contract of industrial assurance, and no person not regularly in the employment of such a society or company shall procure or endeavour to procure any person to enter into such a contract: Notification of appoint ments of secretary and members of Provided that nothing in this section shall prevent 5 a deputy collector in the regular employment of a collector from procuring contracts of industrial assurance on behalf of the collecting society by which that collector is employed. 34.—(1) Every collecting society registered before the passing of this Act shall, within one month after the 10 passing of this Act, and every collecting society registered after the passing of this Act or society which becomes a committee of collecting society after the passing of this Act shall, management. within one month of the date when it is so registered or so becomes a collecting society, send to the Com- 15 missioner in such form as he may direct, the names of its secretary and of the members of its committee of management, and every such society shall within fourteen days after the appointment of a new secretary or a new member of the committee of management send to the 20 Commissioner in such form as he may direct the name of the person so appointed, together with such particulars in each case as he may require. Transfer of (2) This section shall come into operation on the passing of this Act. Amalgamations, Transfers and Conversions. 35.-(1) Section seventy of the Friendly Societies engagements Act, 1896, in its application to an amalgamation and transfer of engagements of collecting societies shall have effect subject to the following modifications:- of collecting societies. 25 30 (i) Before the assent required by that section is 5 10 (ii) An amalgamation or transfer shall not become A.D. 1923. (2) The said section as so modified shall apply to the transfer by a collecting society of its engagements to an 15 industrial assurance company as if in subsection (2) thereof for the words "any other registered society there were substituted the words "an industrial assurance company." from com pany to 36. The provisions of the Assurance Companies Act, Transfer 20 1909, as amended by this Act relating to the transfer of of business industrial assurance business or liabilities arising in respect of industrial assurance business from one industrial assur- society. ance company to another, shall, with the necessary modifications, apply to the transfer of such business or 25 liabilities from an industrial assurance company to a collecting society. company. 37.-(1) Without prejudice to the powers conferred Conversion by section seventy-one of the Friendly Societies Act, 1896, of collecting the committee of management of a collecting society society into 30 having more than one hundred thousand members may petition the court to make an order for the conversion of the society into a a mutual company under the Companies Acts, 1908 to 1917, and the court may make such an order if, after hearing the committee 35 of management, and other persons whom the court considers entitled to be heard on the petition, the court is satisfied, on a poll being taken, that fifty-five per cent. at least of the members of the society over sixteen years of age agree to the conversion : 40 Provided that before any such petition is presented to the court, notice of intention to present the petition shall be published in the Gazette, and in such newspapers A.D. 123. a contract of industrial assurance, and no person not regularly in the employment of such a society or company shall procure or endeavour to procure any person to enter into such a contract: Notification ments of Provided that nothing in this section shall prevent 5 a deputy collector in the regular employment of a collector from procuring contracts of industrial assurance on behalf of the collecting society by which that collector is employed. 34.-(1) Every collecting society registered before the of appoint- passing of this Act shall, within one month after the 10 secretary and passing of this Act, and every collecting society registered members of after the passing of this Act or society which becomes a committee of collecting society after the passing of this Act shall, management. within one month of the date when it is so registered Transfer of societies. or so becomes a collecting society, send to the Com- 15 (2) This section shall come into operation on the passing of this Act. Amalgamations, Transfers and Conversions. 25 30 35.-(1) Section seventy of the Friendly Societies engagements Act, 1896, in its application to an amalgamation and of collecting transfer of engagements of collecting societies shall have effect subject to the following modifications:-(i) Before the assent required by that section is sought to be obtained, there shall, unless the Commissioner otherwise directs, be sent to each member a statement in such form and containing such particulars as the Commissioner 35 may require, of the terms of the amalgamation or transfer, and the consideration proposed to be paid therefor, the manner in which that consideration is to be distributed, and the exact share therein which is to be paid to each person 40 participating in the distribution: |