20 Dissolution by consent
Friendly Societies Act 1992 (1992 c 40) | Legislation

20  Dissolution by consent

(1)     An incorporated friendly society may be dissolved by an instrument of dissolution.

(2)     An instrument of dissolution shall only have effect if it is approved by special resolution.

(3)     An instrument of dissolution shall set out—

(a)     the liabilities and assets of the society in detail;

(b)     the number of members, and the nature of their interests in the society;

(c)     the claims of creditors, and the provision to be made for their payment;

(d)     the intended appropriation or division of the funds and property of the society;

(e)     the names of one or more persons to be appointed as trustees for the purposes of the dissolution, and their remuneration.

(4)     An instrument of dissolution may be altered, but the alteration shall only have effect if it is approved by special resolution.

(5)     The provisions of this Act shall continue to apply in

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