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Companies to which this Act applies.
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2.—This Act applies to every company registered in Saorstát Eireann under the Companies (Consolidation) Act, 1908 which complies with the following conditions, that is to say:—
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(a) the objects of the company must be wholly or mainly one or both of the following, that is to say:—
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(i) the mutual insurance of its members against damage by or incidental to fire caused to the houses or other property owned or occupied by them, and
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(ii) the mutual insurance of its members against liability to pay compensation or damages to workmen employed by them, and
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(b) the liability of its members must be limited by guarantee and the amount to be guaranteed by any one member must not exceed ten pounds, and
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(c) the company must not have a share capital, and
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(d) all the members of the company must be local authorities.
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