90 Power of [appropriate authority] to effect transfer of engagements
Friendly Societies Act 1992 (1992 c 40) | Legislation

90  Power of [appropriate authority] to effect transfer of engagements

(1)     Subject to the following provisions of this section the [appropriate authority] may give a direction under this section (“a direction”) providing for the transfer of such of the engagements of a friendly society (“the society”) as are specified in the order to a person so specified (“the transferee”).

(2)     The [appropriate authority] may give a direction if—

(a)     it considers that—

(i)     the society is unable to manage its affairs satisfactorily in relation to the engagements specified in the order; and

(ii)     a transfer of those engagements would be expedient to protect the interests of the members of the society; and

(b)     the proposed transferee has complied with paragraph 1 of Schedule 15 to this Act and has resolved to undertake to fulfil the engagements by special resolution or, if the [appropriate authority] consents to that mode of proceeding, by resolution of the committee of management;

but the [appropriate authority] may direct that paragraph (b) above shall be modified in relation to a particular proposed

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