Financial Intermediaries Act 1996
sec.58Additional powers of the registrar
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sec.58 Additional powers of the registrar
If the registrar appoints directors of a society under section 54 (3) (d) , the registrar may, by written notice given to the society, state— a time during which this section is to apply to the society; and the terms on which all or any of the directors hold office; and the rules that are to be the society’s rules. While this section applies to a society, the registrar may— from time to time remove and appoint directors; and vary, revoke or specify new terms in place of all or any of the terms stated under subsection (1) ; and amend all or any of the rules stated under subsection (1) . The registrar may, by written notice given to the society, extend the time during which this section is to apply to a society. A rule stated by the registrar under this section as a rule of a society— is not to be amended or revoked except in the way set out in this section; and if it is inconsistent with any other rule of the society—prevails over the other rule, and the other rule is to the extent of the inconsistency invalid; and has the same evidentiary value as is by this Act given to the society’s rules and to copies of them. s 58 amd 1999 No. 27 s 76 sch 1 pt 2 (sec.58-ssec.1) If the registrar appoints directors of a society under section 54 (3) (d) , the registrar may, by written notice given to the society, state— a time during which this section is to apply to the society; and the terms on which all or any of the directors hold office; and the rules that are to be the society’s rules. (sec.58-ssec.2) While this section applies to a society, the registrar may— from time to time remove and appoint directors; and vary, revoke or specify new terms in place of all or any of the terms stated under subsection (1) ; and amend all or any of the rules stated under subsection (1) . (sec.58-ssec.3) The registrar may, by written notice given to the society, extend the time during which this section is to apply to a society. (sec.58-ssec.4) A rule stated by the registrar under this section as a rule of a society— is not to be amended or revoked except in the way set out in this section; and if it is inconsistent with any other rule of the society—prevails over the other rule, and the other rule is to the extent of the inconsistency invalid; and has the same evidentiary value as is by this Act given to the society’s rules and to copies of them.
- (a) a time during which this section is to apply to the society; and
- (b) the terms on which all or any of the directors hold office; and
- (c) the rules that are to be the society’s rules.
- (a) from time to time remove and appoint directors; and
- (b) vary, revoke or specify new terms in place of all or any of the terms stated under subsection (1) ; and
- (c) amend all or any of the rules stated under subsection (1) .