Competition Act, 2002

Amendment of Industrial and Provident Societies Act, 1893.

51.—The Industrial and Provident Societies Act, 1893, is amended—

(a) in section 51, by the substitution for “For the purposes of this Act” of “Subject to section 51A of this Act, for the purposes of this Act”, and

(b) by the insertion of the following section after section 51:

“51A. In relation to special resolutions for the purposes of sections 52 and 53 of this Act, section 51 of this Act shall have effect as if—

(a) in paragraph (a) ‘of not less than three fourths’ were deleted, and

(b) in paragraph (b), ‘where such special resolution is passed by a majority of less than three fourths of such members,’ were inserted before ‘confirmed’.”.