S.I. No. 308/1935 - Perpetual Funds (Registration) Act, 1933 (Regulations) Order, 1935.


STATUTORY RULES AND ORDERS. 1935. No. 308.

PERPETUAL FUNDS (REGISTRATION) ACT, 1933 (REGULATIONS) ORDER, 1935.

THE PERPETUAL FUNDS (REGISTRATION) ACT, 1933 , (REGULATIONS) ORDER, 1935, MADE BY THE MINISTER FOR INDUSTRY AND COMMERCE ON THE 11TH DAY OF JUNE, 1935, PURSUANT TO SUB-SECTION (1) OF SECTION 15 of THE PERPETUAL FUNDS (REGISTRATION) ACT, 1933 .

WHEREAS it is enacted by sub-section (1) of Section 15 of the Perpetual Funds (Registration) Act, 1933 , that the Minister for Industry and Commerce may by order make regulations prescribing any matter or thing referred to in the said Act as prescribed or to be prescribed:

NOW, THEREFORE, the Minister for Industry and Commerce in exercise of the powers conferred on him by sub-section (1) of Section 1.5 of the Perpetual Funds (Registration) Act, 1933 , and of every and any other power him in this behalf enabling hereby orders as follows:—

1. This Order may be cited for all purposes as the Perpetual Funds (Registration) Act, 1933 (Regulations) Order, 1935.

2. The Interpretation Act, 1923 , applies to the interpretation of this Order in like manner as it applies to the interpretation of an Act of the Oireachtas.

3. In this Order—

the expression " the Act " means the Perpetual Funds (Registration) Act, 1933 ;

the expression " the registrar " means the Registrar of Friendly Societies in Saorstat Eireann;

other expressions have the same meaning as they have in the Act.

4. The following regulations shall have effect for the purposes of the Perpetual Funds (Registration) Act, 1933 , that is to say—

(i) The form of the Register of Perpetual Funds shall be the Form P.F. (A ) in the schedule to these regulations and shall contain the particulars mentioned therein.

(ii) Every application to the registrar for the registration of a perpetual fund in the Register of Perpetual Funds shall be made in the Form P.F. (B) in the schedule to these regulations, and shall be signed by the trustees of the perpetual fund and sent to the registrar, and such trustees shall at the time of making such application furnish to the registrar the particulars and documents mentioned in such form.

(iii) (a) Whenever an alteration is made in the rules of a registered perpetual fund the trustees of such fund shall within fourteen days after the making of such alteration apply to the registrar for the registration of such alteration in the Register of Perpetual Funds;

(b) such application shall be made in the Form P.F. (C) in the schedule to these regulations, and shall be signed by the trustees of the registered perpetual fund and. sent to the registrar, and such trustees shall at the time of making such application furnish to the registrar the particulars and documents mentioned in such form.

(iv) (a) Whenever through the happening of any event the particulars entered in the Register of Perpetual Funds in respect of any registered perpetual fund cease to be in accordance with the facts the trustees of such fund shall apply to the registrar to rectify the Register of Perpetual Funds within twenty-eight days after the day on which the event occasioning such application has taken place;

(b) such application shall be made in the Form P.F. (D) in the schedule to these regulations, and shall be signed by a trustee or the Secretary of the fund to which the application relates, and shall be sent to the registrar.

(v) Whenever a registered perpetual fund is wound up, the trustees of such fund shall, within twenty-eight days after such winding-up, apply to the registrar to cancel the registration of such fund.

(vi) The qualifications for an auditor for the purposes of the Act are that such auditor shall be a public auditor appointed under the provisions of the Friendly Societies Acts, 1896 and 1908, or the Industrial and Provident Societies Acts, 1893 to 1913.

(vii) The qualifications for an actuary for the purposes of the Act are that such actuary shall be a Fellow or Associate of either the Institute of Actuaries or the Faculty of Actuaries.

By Order of the Minister for Industry and Commerce.

Dated this 11th day of June, 1935.

JOHN LEYDON, Secretary.

Department of Industry and Commerce.

SCHEDULE.

FORM P.F. (A) .

PERPETUAL FUNDS (REGISTRATION) ACT, 1933 .

REGISTER OF PERPETUAL FUNDS.

Reg No. ............................................................ ............................................................ ....................

Date of Registration ............................................................ ...........................................................

Name of Fund ............................................................ ............................................................ ..........

Address of Fund ............................................................ ............................................................ ......

Name in full of first Trustee ............................................................ ..............................................

Address ............................................................ ..............................................

Occupation ............................................................ ........................................

Name in full of second Trustee ............................................................ .........................................

Address ............................................................ ..............................................

Occupation ............................................................ ........................................

(The like as to other Trustees, if any)

Name in full of Secretary ............................................................ ...................................................

Address ............................................................ ..............................................

Documents received after registration:—

FORM P.F. (B).

PERPETUAL FUNDS (REGISTRATION) ACT, 1933 .

APPLICATION TO REGISTER A PERPETUAL FUND.

Name of Perpetual Fund ............................................................ ..................

TO THE REGISTRAR OF FRIENDLY SOCIETIES.

Application to register a Perpetual Fund under the above name is made by the trustees thereof whose names are subscribed at the foot hereof.

1. The Fund is a perpetual fund as defined in Section 2 of the Act.

2. Two copies of the Rules of the Fund signed by the trustees thereof are furnished with this application.

3. A full statement of the objects for which the Fund is established is contained in the Rules of the Fund numbered—.

4. The Rules of the Fund make provision for the matters specified in the Schedule to the Act in the manner shewn in the subjoined schedule.

Matters specified in the schedule to the Act.

Numbers of the Rules in which these matters are provided for.

(1) The appointment and removal of trustees of the fund.

(2) The appointment and removal of a secretary of the fund.

(3) The vesting in the trustees of the fund of all property belonging to the fund.

(4) The investment in the names of the trustees of the fund of all capital moneys belonging to the fund.

(5) The investments (if any) in addition to those authorised by law in which capital moneys belonging to the fund may be invested.

(6) When the trustees of the fund are authorised by the rules of the fund to invest capital moneys belonging to the fund by depositing such moneys with the employer of persons employed in the undertaking or combination of undertakings in connection with which the fund is established, that such moneys shall not be so deposited unless:—

(a) the employer is a body corporate, and

(b) has paid in each of the ten years last past before the year in which such deposit is made a dividend or interest of not less than three per cent. on its ordinary stock or shares, and

(c) such deposit is secured by a charge on the whole or part of the assets of such employer.

(7) The making of contributions to the fund by the employer of persons employed in the undertaking or combination of undertakings in connection with which the fund is established.

(8) The contributions payable to the fund and the rates of benefits or the method of calculating benefits payable out of the fund.

(9) The conditions on which persons may become and may cease to be respectively contributors to and entitled to benefits from the fund.

(10) The circumstances in which the fund may be wound up and the manner in which the assets thereof are in that event to be applied.

(11) The manner of making, altering, amending and rescinding of rules.

(12) The preparation of all statements of accounts, balance sheets, and reports required by the Act to be prepared or made in respect of the fund.

(13) The supply on demand to every person who—

Matters specified in the schedule to the Act.

Numbers of the Rules in which these matters are provided for.

(a) is at the time of such demand entitled to any benefit from the fund, and

(b) is at the time of such demand or was previously employed in the undertaking or combination of undertakings in connection with which the fund is established

of a copy of the rules of the fund and of all amendments thereof, and a copy of the latest statement of accounts, balance sheet, and report prepared in respect of the fund in pursuance of the Act.

5. With this application is sent a list of the names and addresses of all the Trustees of the Fund and of the Secretary thereof and of the address of the Fund, as set out in the schedule annexed to this Form.

Signed

1..............................................

Trustee

"

2..............................................

"

(The like as to other Trustees, if any).

Date

day of

19

TO THE REGISTRAR OF FRIENDLY SOCIETIES,

DEPARTMENT OF INDUSTRY AND COMMERCE,

LORD EDWARD STREET,

DUBLIN.

SCHEDULE TO FORM P.F. (B).

Name of Perpetual Fund ............................................................ ...........................................................

Name in full of first Trustee ............................................................ ......................................................

 Address ............................................................ ....................................................

 Occupation ............................................................ ................................................

Name in full of secondTrustee ............................................................ .................................................

 Address ............................................................ ....................................................

 Occupation ............................................................ ...............................................

Name in full of Secretary ............................................................ ..........................................................

 Address ............................................................ .....................................................

(The like as to other Trustees, if any).

Address of the Fund ............................................................ ............................................................ .....

FORM P.F. (C).

PERPETUAL FUNDS (REGISTRATION) ACT, 1933 .

APPLICATION TO REGISTER AN ALTERATION IN THE RULES OF A REGISTERED PERPETUAL FUND.

Name of Registered Perpetual Fund ............................................................ ......................................

Register No .......................................................

(County) .......................................................

Address of Registered Perpetual Fund ............................................................ ...................................

TO THE REGISTRAR OF FRIENDLY SOCIETIES.

1. Application to register an alteration in the rules of the above-named Perpetual Fund is made by the trustees thereof whose names are subscribed at the foot hereof.

2. With this application are sent—

(a) A copy of the rules, marked to show the rules affected by the alteration,

(b) Two copies of the alteration each signed by the trustees of the fund.

3. The alteration of the rules has been made as follows, viz.:—

and has been duly made in accordance with the rules of the fund in respect of the making, altering, amending and rescinding of rules.

SIGNED—

............................................................ .............Trustee.

............................................................ ..............Trustee.

(The like as to other Trustees, if any).

Dated………….........day of……………............................................................ .19..

TO THE REGISTRAR OF FRIENDLY SOCIETIES,

DEPARTMENT OF INDUSTRY AND COMMERCE,

LORD EDWARD STREET,

DUBLIN.

FORM P.F. (D).

PERPETUAL FUNDS (REGISTRATION) ACT, 1933 .

APPLICATION TO RECTIFY THE REGISTER OF PERPETUAL FUNDS.

Name of Registered Perpetual Fund ............................................................ ..........................

Register No ...........................................................

(County) ........................................

Address of the Registered Perpetual Fund ............................................................ .................

TO THE REGISTRAR OF FRIENDLY SOCIETIES.

Application to rectify the Register of Perpetual Funds in respect of the above-named Perpetual Fund and in the following manner, that is to say—

Is made by the trustees of the said Fund.

Signed............................................................ ..........

A Trustee (or Secretary) of the Fund.

Dated................................day of...................................................19..

TO THE REGISTRAR OF FRIENDLY SOCIETIES,

DEPARTMENT OF INDUSTRY AND COMMERCE,

LORD EDWARD STREET,

DUBLIN.