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FRIENDLY SOCIETIES ACT
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72.   Instrument of dissolution

Revised Laws of Saint Lucia (2021)

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72.   Instrument of dissolution

When a society or branch is terminated by an instrument of dissolution—

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    (a)     the instrument shall set out—

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      (i)     the liabilities and assets of the society or branch in detail,

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      (ii)     the number of members and the nature of their interests in the society or branch,

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      (iii)     the claims of creditors (if any) and the provision to be made for their payment, and

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      (iv)     the intended appropriation or division of the funds and property of the society or branch, unless the appropriation or division is stated in the instrument of dissolution to be left to the award of the Registrar;

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    (b)     alterations in the instrument of dissolution may be made with the like consents as are in this Act required for the dissolution of a society or branch, testified in the same manner;

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    (c)     a statutory declaration shall be made by one of the trustees, or by 3 members and the secretary of the society or branch, that the provisions of this Act have been complied with, and shall be sent to the Registrar with the instrument of dissolution;

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    (d)     the instrument shall not, in the case of a friendly society or branch, direct or contain any provision for a division or appropriation of the funds of the society or branch, or any part thereof, otherwise than for the purpose of carrying into effect the objects of the society or branch as declared in the rules thereof, unless the claim of every member or person claiming any relief, annuity, or other benefit from the funds thereof is first duly satisfied, or adequate provisions are made for satisfying those claims;

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    (e)     the instrument of dissolution and all alterations therein shall be registered in manner in this Act provided for the registration of amendments of rules, and shall be binding upon all the members of the society or branch;

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    (f)     the Registrar shall cause a notice of the dissolution to be published in the Gazette at the expense of the society or branch, and, unless within 3 months from the date of the Gazette in which the advertisement appears, a member or other person interested in or having any claim on the funds of the society or branch commences proceedings to set aside the dissolution of the society or branch, and the dissolution is set aside accordingly, the society or branch shall be legally dissolved from the date of that advertisement, and the requisite consents to the instrument of dissolution shall be considered to have been duly obtained without proof of the signatures thereto.

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    (g)     where on a report to the Registrar by not fewer than 3 members that the officers of a society which is dissolved under the provisions of section 71 are unwilling or unable to act under the provisions of this section, the Registrar shall have the same powers as are conferred on him or her in respect of the cancellation of registration of a society under section 70;

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    (h)     a dissolution made in accordance with paragraphs (a) to (f) prior to the coming into force of this Act, is valid and lawful for all intents and purposes.

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    (Amended by Act 6 of 1988)

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