Australian Mutual Provident Society's Act 1910 (NSW)

An A c t to consol idate the enac tments re lat ing

to the Austral ian Mutual Prov ident Soc ie ty ;

and to amend the same. [28th July, 1910.]

WH E R E A S Colony) of N e w South Wales , passed in t h e seven th year of

by an A c t of t he Legis la tu re of t h e State (formerly

t h e re ign of H e r la te Majes ty Queen Victoria , and n u m b e r e d ten, after

rec i t ing , amongs t other th ings , t h a t i t was desirable to encourage t he foundat ion of friendly societies for t he purposes there in ment ioned, i t was enacted t h a t i t should be lawful for any n u m b e r of persons to form themselves in to and to establish a society for t he purposes of rais ing, f rom t ime to t ime , by subscr ipt ion of t he several m e m b e r s of every

o ther purpose which is no t i l l ega l : A n d whereas , u n d e r and in pur suance of t h e said Ac t , a cer ta in Society was established, and is sti l l subs is t ing in t he City of Sydney, in t he said Sta te , called t h e Aus t r a l i an M u t u a l

such society, or by vo lun ta ry cont r ibu t ions or donat ions, funds for t h e

m u t u a l relief or m a i n t e n a n c e of the m e m b e r s thereof, the i r wives, chi ldren, relat ions, or nominees , in sickness, infancy, advanced age, widowhood, or any o the r n a t u r a l s ta te or cont ingency, whereof t h e

occur rence is susceptible of calculat ion b y w a y of average, or for a n y

M u t u a l Prov iden t Society, for t he purpose of rais ing funds by the

m u t u a l cont r ibut ions of t h e m e m b e r s thereof, or otherwise, for

assurances on the i r own lives, or on t he lives of o ther p e r s o n s ; for

t h e assurance of jo in t lives and surv ivorsh ips ; for t he purchas ing ,

g ran t ing , and sale of annui t ies cer tain or on lives, present , deferred, or

r eve r s iona ry ; for t he purchas ing and g r a n t i n g of endowments , and for t he t r ansac t ing and car ry ing on of ail business dependent on t he cont ingencies of h u m a n life : A n d whereas various o ther Acts were from t ime to t ime passed for t he encouragement and regula t ion of such friendly societies : A n d whereas one of such Acts , tha t is to say, an Act of Counci l passed in the seventeenth year of the reign of H e r la te Majes ty Queen Victor ia and n u m b e r e d twenty-s ix , repealed the said f i r s t -ment ioned Ac t , subject however to its provisions con t inu ing in force as to any such society t hen established, till it should register i ts rules in conformity with t he Ac t now in recital : A n d whereas , by t he las t -ment ioned Act , var ious privi leges were conferred upon any such society no t g ran ted by the said first-recited Act , b u t at t he same t ime so l imi t ing t he ex ten t and n a t u r e of the business allowed to be

carr ied on by any such society, as to be inconsis tent wi th t h a t t h e n

carr ied on by t h e said Aus t ra l ian M u t u a l Prov iden t Society, and which business had since been cont inual ly and rapidly increasing, so t ha t t he said Society had no t complied, and could not comply, wi th the condi t ions imposed by the said second Act, so as to obta in the addi t ional privi leges t he reby conferred : A n d whereas the members thereof were desirous of hav ing proper and enlarged facilities for car ry ing on and ex tend ing i ts business and operat ions ; and to effect t h a t purpose, and for t he encouragement of frugal i ty and of provident habi ts , and for p romot ing the objects of t he said Society, it was expedient t h a t the same should bo incorporated with, and subject to cer ta in privileges, restr ict ions, and provisions : And whereas , by an Act of t he Legis la ture of the S ta te ( then Colony) of New South Wales , passed in t h e twent ie th year of H e r la te Majes ty Queen Victoria, t h e said Society was incorpora ted wi th and subject to cer tain privileges and restr ict ions,

which A c t (hereinaf ter called the Pr incipal Act) has since been
amended by Acts passed in t he th i r ty - seven th and fifty-first years
respect ively of H e r late Majesty Queen Victoria , and by an Act passed in t h e th i rd year of His Majesty K i n g E d w a r d V I I : A n d whereas it

is expedient to consolidate t h e said Pr inc ipa l Ac t and a m e n d i n g Acts

and to amend the same :  Be it therefore enacted by the K i n g ' s Most

Exce l l en t Majesty , by and wi th the advice and consent of the Legis la t ive Council and Legislat ive Assembly of New South Wales , in P a r l i a m e n t assembled, and b y the au tho r i t y of t h e same, as follows :—

1 .     Such a n d so m a n y persons as are a t t he commencemen t

of this Act , or a t any t ime thereafter , may become members of t he Society, shall (subject to t h e regula t ions and provisions hereinaf ter

contained)

conta ined) be and con t inue to be one body corporate , by the n a m e and s tyle of the " A u s t r a l i a n Mutua l P rov iden t S o c i e t y " ; and by t h a t n a m e may t ransac t , carry on, and con t inue (subject to t he provisions of t h e by- laws of the Society, hereinafter referred to) in or out of t he S ta te of N e w Sou th "Wales, t h e business for which the Society was es tabl ished as hereinbefore ment ioned, and by tha t n a m e shall have and con t inue to have perpe tua l succession and a common real, and shall sue and be sued, defend and be defended, in all cour ts whatsoever , and, excep t where inconsistent wi th the provisions of this Ac t , or of any by- law of t he Society, shall have and con t inue to have power, no tw i th s t and ing any

s t a tu t e or law to t he contrary , to purchase , t ake , hold, and enjoy to t h e m

and the i r successors for any es ta te , t e r m of years, or in te res t , a n y

houses , bui ld ings , lands, and o ther he red i t amen t s necessary or exped ien t

for t h e m a n a g i n g , conduc t ing , and car ry ing on the concerns, affairs, and business of the Society, w i th power to bui ld on any such lands bui ld ings for offices in whole or in par t for the use of the Society, a n d to lease, sell, convey, assign, assure, and dispose of such houses ,

bu i ld ings , lands , a n d o ther he red i t aments as occasion may requ i re .

2 .     Eve ry person who has effected, or shall hereafter effect, with

t h e Society, any policy or contract for an assurance, endowmen t , o r annu i ty , and also (subject to t he provisions of this Ac t and of the by- laws of t he Society) , the assigns or nominees of such persons shall , so long as he or they respect ively shal l have an in teres t in such pol icy or cont rac t , be a m e m b e r or member s of t he Soc ie ty ; and minors m a y also (subject to any provisions and restr ic t ions conta ined in t h e by-laws) be m e m b e r s in l ike m a n n e r : Provided tha t minors shall no t

become such members	w i t h o u t consent	of the i r	paren ts , masters , or
guard ians .

3 . The general business of the Society shall (subject to t h e

by-laws and to the control of mee t ings of the Society, convened in. pu r suance of such by-laws) be u n d e r t he immedia te m a n a g e m e n t and super in tendence of a " Board of Di rec tors , " and t h e directors for t h e t ime being shall have the custody of t he common seal of t he Society and

t h e form thereof, and all o ther mat te rs r e la t ing there to , shall , from t ime

to t ime , be de termined by the board ; and the directors present a t a board shall have power to use such common seal, for the affairs of the Society, and to affix the same to any deed or d o c u m e n t ; and, u n d e r such seal, e i ther by le t ter of a t to rney , or otherwise, to author ise any person or persons to execute , without such seal, policies, deeds, and cont rac t s , and to do all such other th ings as m a y be required to b e done, on behalf of the Society, in conformity wi th t h e provisions of t he by-laws and of th is Act ; and it shall not be necessary to affix t h e said seal to any policy, or to use it in respect of any of the o rd inary business of the Society, or for t he a p p o i n t m e n t of any a t to rney for t h e prosecut ion or defence of any act ion, suit , or proceeding.

4 .     The present directors of the Society, namely , The Honorab le

Alfred Wil l iam Meeks , Member of the Legis la t ive Council , Senator The Honorab le J a m e s Thomas Walke r , Ben jamin Shor t , Esqu i re , The

Honorab l e	Regina ld	J a m e s	Black,	The Honorab le	Freder ick	Ea r l e
W i n c h c o m b e , The	Honorab le	J a m e s	Burns , Members	of	t h e	Legis­

lat ive Council , and Adr ian K n o x , Esqu i re , Barr i s te r -a t -Law, one of H i s Majes ty ' s Counsel for t he Sta te of New South Wales, shall be the directors, and t h e presen t officers thereof shall be the officers of t h e Society, un t i l t hey or any of t h e m shall re t i re or be changed, or shall o therwise cease to be such directors or officers in pur suance of any by-laws of t he Society, for the change , election, or appo in tmen t of directors or officers.

5 . The board may (subject to t he provisions of t he by-laws)

effect wi th any person a policy or contract for an assurance , endow­ m e n t , or annu i ty , which shall no t ent i t le the holder to par t ic ipa te in any of t he profits of the Society, or to claim any bonus or o ther benefit which may arise out of the said profits, and such policy shal l

be called a " n o n - p a r t i c i p a t i n g policy."

6 . The board may appoint local boards of directors and other

necessary officers in such places and wi th such powers as are or may be provided by the by-laws, or as m a y from t ime to t ime consis tent ly the rewi th be de termined by the board.

7 . The present by-laws of t he Society shall be the by- laws of

t h e Society un t i l al tered, varied, amended , or repealed in t h e m a n n e r

provided in th is Ac t and the by- laws.

8 . I t shal l be competent for t he Society from t ime to t ime to

a l ter , vary , amend, and repeal the by- laws and to m a k e new b y 1 laws

provided t h a t such by-laws are passed and confirmed in t h e m a n n e r prescribed by this Act , b u t no by-law shall be made by t h e Society in opposition to t h e general scope or t rue in t en t and mean ing of this Ac t .

9 . Eve ry a l tera t ion, variat ion, a m e n d m e n t , or repeal of any

by- law, and every new by-law, shal l be first approved of by two- th i rds of t he votes a t a mee t ing of the Society convened for t he purpose, and

shall be finally passed by a l ike major i ty of votes at ano the r mee t ing
also convened for the purpose .

1 0 . A copy of t he by-laws, proved to be such by the solemn

declarat ion of the secretary, shall be registered in t he office for the regis t ry of deeds, a t Sydney, and shal l be open a t all reasonable t imes to t he publ ic , and new by-laws shall no t be in force t i l l so registered.

1 1 .     The product ion of t he by-laws unde r t he seal of t he Society

by any officer of the Society, or of the copy of such' by- laws registered as aforesaid, or a copy thereof, certified by the officer for t he regis ter ing of deeds to be a copy, shal l be evidence in every cour t of such by-laws.

F 1 2 .

1 2 . A t every m e e t i n g of t he Society votes shal l in t he first

ins tance be given by show of hands , each member (not be ing a minor) p resen t in person being reckoned as h a v i n g one vote only, and in t h e case of an equa l i ty of votes, the cha i rman shall bo th on a show of hands and a t t he ballot have a cas t ing vote in addi t ion to t he vote or votes to which he m a y be ent i t led as a m e m b e r . A bal lot m a y be

demanded a t any m e e t i n g on any question (except t h a t of an	ad journ­
m e n t of a meet ing) by such n u m b e r of members	p resen t in person as
m a y from t ime to t ime be provided by the by- laws.	I f so demanded ,

t h e bal lot shall be t aken and votes be given whe the r personal ly or by p roxy or a t to rney in such m a n n e r and according to such scale of vo t ing as m a y from t ime to t ime be prescribed by the by- laws. T h e resu l t of t h e ballot shall be deemed to be the resolut ion of t he mee t ing a t which the ballot was demanded .

1 3 . The board may (subject to the provisions of the by- laws

and of this Act ) invest such of the funds and proper ty of the Society as to t h e m shall seem fit in any one or more of t he following modes :—

(a)	Upon mortgages of freehold or leasehold property anywhere
wi th in the Br i t i sh Dominions , and w h e t h e r be longing to

persons, corporat ions, or companies .

(b)	In the purchase of or advances on public or Government
securit ies of the U n i t e d Kingdom, t h e Commonwea l th of

Aus t ra l ia , or of any Sta te thereof, t he Dominion of N e w Zealand, or of any Sta te , Colony, or possession of t h e Br i t i sh E m p i r e , or any stocks, funds, or securit ies guaran teed by the

Br i t i sh Government .
(c)	In advances on the security of policies of assurance, whether of the said Society or any o ther society, corporat ion, or company.
(d)	In the purchase of premises or of land on which to build premises in whole or in p a r t for offices for t he use of t he Society in or out of t h e State of N e w South Wales , a n d in
bui ld ing such premises.
(e)	In the purchase of or at interest upon reversionary interests or life interests in funds or estates.
(f)	I n purchas ing , or otherwise acqu i r ing equit ies of redemption,

reversions of leaseholds, or any o ther ou t s t and ing interes ts in respect of any proper ty the subject of a securi ty held by the Society unde r which default has been made .

(g)	On deposit or c u r r e n t account wi th t he ordinary banke r s of t h e Society or any joint stock bank or banks .
(h)	In repairing adding to, building upon or otherwise improving t h e proper t ies , t he equi t ies of r edempt ion in which have been or hereaf ter may be acquired by foreclosure or in any other manne r .

(i)

(i)   In advances upon the security of city, municipal, shire, borough, or other ra tes , tolls or dues, raisable or made chargeable by or under the au thor i ty of any A c t of the P a r l i a m e n t of t he U n i t e d K i n g d o m , or of t he Commonweal th of Aust ra l ia , or of any State thereof, or of the Dominion of N e w Zealand, or of any Sta te , Colony, or possession of the

Br i t i sh E m p i r e .

(j) I n t h e purchase of or advances upon bonds , debentures , mor tgages , or o ther securi t ies of any city, munic ipa l i ty , shire, borough, publ ic commissioners or t rus t , publ ic body, corporat ion or company, secured upon any under t ak ings or works , or upon the rates , tolls, dues, or revenues raisable, leviable, or obtainable therefrom : Provided t h a t t he power to carry on or cons t ruc t such under tak ings or works and to issue or give bonds, debentures , mor tgages , or o ther securit ies in connect ion therewi th has been duly conferred under or by v i r tue of any A c t of t h e P a r l i a m e n t of t h e U n i t e d Kingdom, or of the Commonwea l th of Aust ra l ia , or of any Sta te thereof, or of the Dominion of New Zealand, or of any State , Colony, or possession of the Br i t i sh E m p i r e : Prov ided fur ther t h a t in the case of a company registered unde r the Companies Act , such u n d e r t a k i n g or works as aforesaid shall have been author ised by some express enac tmen t ex tend ing to the company .

1 4 . I t shall be lawful for the Society to t ake and to hold

un t i l t h e same can be advantageous ly disposed of for t h e purposes of r e i m b u r s e m e n t only, any lands, houses, and other real es ta te which may be t a k e n by the Society in satisfaction, l iquidat ion or discharge of any mor tgage or o the r debt due to t he Society, or in securi ty for any deb t or l iabil i ty, and to lease, sell, convey, assign, assure , and dispose of such lands, houses, and o ther real es ta te as occasion may require .

1 5 .     Al l acts done at any mee t ing of t he board shall , notwi th­

s tand ing a n y defect in the a p p o i n t m e n t or qualification of any director , be as val id as if every such person had been du ly appointed and was qualified to be a director.

1 6 .     W i t h i n the l imits provided by sections four, five, six, and

seven of t h e L i f e , Fire, and Mar ine I n s u r a n c e Act , 1902, which Act is hereby declared to apply to policies and contracts of t he Society, no proper ty or interest of any member , or of his personal representa t ives in any policy or contract made or entered into bona fide for the benefit of such m e m b e r or his personal representat ives , or in the moneys payable unde r or in respect of such policy or cont rac t ( including every s u m payable by way of bonus or profit) , shall be affected by a n y general

ass ignment

ass ignment for the benefit of creditors, or in any o ther m a n n e r except by some ac t or deed of the holder of such policy, o ther t h a n such deed of ass ignment pu rpo r t i ng specially to deal wi th t h e same, a n d t h e p roper ty or in te res t there in of such holder or of his personal representat ives .

1 7 . Al l t h e funds, inves tments , and proper ty for t h e t i m e

being, of t he Society, and the estates and interests of t h e several member s therein , and all t he profits and advantages thereof shall, as be tween t he members , be deemed personal es ta te , a n d be t ransmissible accordingly.

1 8 .    The Society shall not, unless so far as allowed by its by- laws,

be bound in a n y m a n n e r by any t ru s t or equi table in teres t or demand ,

affecting a n y policy or cont rac t g r an t ed to , or effected by, any person as the ostensible owner thereof, or be required to take not ice of any t r u s t or equi table interest or demand, b u t the receipt of t he person or his representa t ives , to or by whom such policy or con t rac t shall h a v e been gran ted or effected, shall , n o t w i t h s t a n d i n g such t r u s t or equ i tab le in te res t or demand , and notice thereof to t h e Society, be a valid and conclusive discharge to t he Society in respect of any money payable by t h e Society in respect of such policy or contract , and a t ransfer thereof, in accordance wi th any provision in t h a t behalf, shall be b ind ing and conclusive, as far as may concern the Society, aga ins t all persons w h a t e v e r : Provided t h a t no t h ing here in conta ined shal l affect t h e power of a cour t of equi ty to restrain or direct, as t he case may be , t he p a y m e n t of any money payable by t he Society in respect of a n y such policy or contract , or t he t ransfer thereof thereaf ter , by any person or body other t h a n the Society, as such court may t h i n k fit.

1 9 .     I t shall be lawful for the board, any s ta tu te or law to the

cont ra ry no twi th s t and ing , if satisfied t h a t no will was left by a deceased

member , and t h a t no let ters of admin is t ra t ion of t h e es ta te of such

deceased will be t a k e n out , to pay any s u m no t exceeding one h u n d r e d

pounds , toge ther wi th any s u m which may have been added there to by way of bonus or profit, to t he widow or widower of such member , or to or a m o n g s t his or her child or chi ldren, or o ther person or persons

appear ing to t h e board to be ent i t led to the said estate , wi thout such

le t ters	be ing	t aken out .
2 0 .	E v e r y summons , or not ice , or wr i t or o ther proceeding a t

law or in equi ty r equ i r ing to be served upon t he Society, m a y be served by be ing left at t he office of the Society in Sydney, or given personal ly

to the secretary, or in case t h e r e be no secretary t hen to any director

of the S o c i e t y ; and t h e place w h e r e t h e said office is s i tuate , and the n a m e s of the s ecre tary and d irectors of the S o c i e t y , shall be registered

in the office for the registry of deeds , in like manner as hereinbefore

declared respec t ing the by-laws, and every change in such office, a n d

every

every new a p p o i n t m e n t of secretary or director, shall for thwith be also registered in l ike manner , and notice thereof given in the

Governmen t Gazet te .

2 1 .      I n case a majori ty of no t less t h a n three-four ths of votes

present a t a mee t ing of the Society shall resolve t h a t i t is expedient to dissolve t he Society, t he directors shall , as soon as pract icable , cause a s t a t emen t of t h e proposed mode of appropr ia t ion and dis t r ibut ion of the stock and funds of the Society to be made, and to be certified to bo an equ i tab le mode by a t least one ac tua ry no t personally interested in the Socie ty; and ano the r mee t ing shall t h e n he convened, and if the resolut ion of t h e previous mee t ing he t h e n confirmed by a l ike major i ty of votes, the Society shall be dissolved, and its affairs wound u p w i t h all convenient speed : A n d in case by a l ike major i ty of votes a t a l ike mee t ing i t be resolved t h a t it is expedient to dispose of t h e p rope r ty a n d business of t he Society, or of any b ranch thereof, or to ama lgama te the same wi th any other society or company, or to purchase t h e stock and business of any o the r society or company t r ansac t ing similar business to t h a t of th is Society, t h e directors shall cause a s t a tement to be made of the effect of such disposal, amalga­ mat ion , or purchase , on t he interests of t h e m e m b e r s of th is Society ( the same to be certified by at least one ac tua ry , no t personal ly interested, e i ther in th is Society or in the other society or company as aforesaid) , a n d t h e n cause ano ther mee t ing to be held for confirming or disal lowing the said disposal, ama lgamat ion , or purchase , as t he case m a y b e ; and if confirmed by the l ike majori ty, t he same shall be comple ted wi th al l convenien t speed ; b u t in t he event of any m e m b e r who may not have assented to such disposal, ama lgamat ion , or t ransfer , a t the mee t ing a t which the same was confirmed, d issent ing therefrom a t a n y t i m e before t he da te on which his a n n u a l p r e m i u m n e x t after t he da te of such mee t ing shall have become due, or if he have no a n n u a l p r e m i u m to pay, t h e n wi th in twelve calendar m o n t h s after the da te of such m e e t i n g he shall be ent i t led to d e m a n d from the funds of wha tever b ranch of t he said Society he may be a member of, the

va lue of his policy, and t h e same shall be paid to h im accordingly on

his su r render ing such policy.

2 2 .     The Acts ment ioned in the Schedule to this A c t are hereby

repealed.

2 3 . This A c t shall be in t i tu led the " A u s t r a l i a n Mutua l

P rov iden t Society's Act , 1910 . "

SCHEDULE.

S C H E D U L E .

Reference to Act. Title or short title. Extent o f repeal.

20 Vic. A n A c t to incorporate the Aus t ra l i an Mutua l Pro- The whole Act .

vident Society.

37 Vic. Aus t ra l i an Mutua l P rov iden t Society's Ac t Amend­ The whole A c t .

ment Act of 1873.

51 Vic. Aus t ra l i an Mutua l Prov iden t Society's Acts Amend­ The whole Act .

ment Act of 1888

3 Ed. V I I Aust ra l ian Mutual Provident Society's Acts Amend­ The whole A c t .

ment Act of 1903.