S.I. No. 168/1988 - Industrial and Provident Societies (Amendment) Act, 1978 (Section 5 (3)) Regulations, 1988
S.I. No. 168 of 1988. | ||
INDUSTRIAL AND PROVIDENT SOCIETIES (AMENDMENT) ACT, 1978 (SECTION 5 (3)) REGULATIONS, 1988 | ||
I, ALBERT REYNOLDS, Minister for Industry and Commerce, in exercise of the powers conferred on me by section 5 (3) of the Industrial and Provident Societies (Amendment) Act, 1978 (No. 23 of 1978), and, after consultation with the Central Bank, hereby make the following Regulations: 1. These Regulations may be cited as the Industrial and Provident Societies (Amendment) Act, 1978 (section 5 (3)) Regulations, 1988, and they shall come into operation on the 15th day of July, 1988. 2. In these Regulations— | ||
"the Act of 1978" means the Industrial and Provident Societies (Amendment) Act, 1978 (No. 23 of 1978); | ||
"the Court" means the High Court; | ||
" the Registrar" means the Registrar of Friendly Societies; | ||
"society" means a society registered under the Industrial and Provident Societies Acts, 1893 to 1978, and to which, by virtue of sections 4 and 9 of the Industrial and Provident Societies (Amendment) Act, 1978 , section 10 to 18 of that Act apply. 3. (1) This Regulation applies to a society in respect of which the Court has by order— | ||
( a ) appointed a liquidator or liquidators pursuant to the Industrial and Provident Societies Acts, 1893 to 1978, and the Companies Acts 1963 to 1986, or | ||
( b ) confirmed and extended the period of operation of a direction given to the society by the Registrar under section 16 of the Act of 1978: | ||
Provided that the said order is in force on the date of commencement of these Regulations. | ||
(2) The period referred to in section 5 (2) of the Act of 1978 (as amended by Regulation 4 (2) of the Industrial and Provident Societies (Amendment) Act, 1978 (Section 5 (3) Regulations, 1983), is hereby extended by three years for a society to which this Regulation applies. | ||
GIVEN under my Official Seal, this 4th day of May 1988. | ||
ALBERT REYNOLDS, | ||
Minister for Industry and Commerce. | ||
EXPLANATORY NOTE. | ||
These Regulations provide for an extension in the period of time during which certain classes of Industrial and Provident Societies may continue to accept and hold deposits. |