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Transfer to Irish Societies of appropriate funds.
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6.—(1) Where in pursuance of this Act any Provisional Irish Society becomes a properly constituted and Approved Society or branch, the Insurance Commissioners shall transfer to or to the account of the Society, or, if the Provisional Society becomes a branch, to that branch and to or to the account of the Society of which it becomes a branch, such funds as may be determined as at the first day of April, 1922, to represent funds—
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(a) attributable to the members of the parent Society who became members of the Provisional Society; or
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(b) in cases where the Provisional Society consists of a former branch or branches of the parent Society, attributable to that branch or branches:
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subject to such adjustments as may be required in respect of the period between the said first day of April and the date when the Society becomes a properly constituted and Approved Society.
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(2) Where in pursuance of this Act the engagements of a Provisional Irish Society in respect of any of its members are transferred to another Society, or members of a Provisional Irish Society are transferred to the Dissolved Societies' Fund, the Insurance Commissioners shall transfer to or to the account of that Society or Fund such funds as may be determined as at the first day of April, 1922, to represent funds attributable to such members as aforesaid, subject to such adjustments as may be required in respect of the period between the said first day of April and the date when the transfer of engagements is effected, or the appointed day as the case may be.
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(3) Pending the determination of the amount of the funds to be so transferred to or to the account of any Society or Fund, the Insurance Commissioners may give to the Society or Fund credits on account of the funds to be so transferred to it of such amounts and in such manner as they may think fit.
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(4) In this section the expression “parent Society” means the British Society, members of which, or a branch or branches of which, are by virtue of this Act deemed to constitute a Provisional Irish Society.
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