Friendly Societies Act, 1956 (Act No. 25 of 1956)

Chapter V : Enquiries and Investigations, Applications to Court, Cancellation or Suspension of Registration and Dissolution of Societies

Purchase

(1)	At the registration of a company converted from a friendly society —

(a)	all assets, liabilities, rights and obligations of the society shall vest in the company; and

(b)	the provisions of the Friendly Societies Act, 1956 (Act No. 25 of 1956), shall cease to apply to the society.

(2)	Any legal proceedings instituted by or against the society prior to the said registration, may be continued by or against the company, and anything else done by or in respect of the society shall be deemed to have been done by or in respect of the company.

[Section 38C inserted by section 3 of Act No. 44 of 1988]