Building Societies Act, 1976

Alteration of rules.

12.—(1) A society may by special resolution alter its rules.

(2) A society altering its rules shall forward to the Registrar two copies of the alteration (or, in the case of a rescission, two copies of the resolution) signed by three members and the secretary, together with a letter signed by the secretary confirming that a special resolution has been passed in relation to the alteration.

(3) Where copies are forwarded to the Registrar in accordance with subsection (2) and he finds that the alteration is in accordance with this Act, he shall return one of the copies to the secretary together with a certificate of registration in a prescribed form, and shall retain and register the other copy.

(4) An alteration under this section shall not have effect until registered under subsection (3).

(5) Any provision in the rules of a society that the rules may be altered without passing a special resolution shall be void.

(6) Where the Registrar refuses to register under subsection (3) a copy of an alteration or of a resolution forwarded to him under subsection (2), he shall, within two months of the receipt by him of the copies, notify the society of his decision and of his reasons for it, and an appeal may be made to the Court against the decision.

(7) This section does not apply to a rule of a society providing for the name of the society.