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

38B. Incorporation as company
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(1)As soon as the Registrar of Friendly Societies has granted approval for the conversion referred to in section 38A (1), the Society may apply to be incorporated as a company under Chapter IV of the Companies Act, 1973 (Act No. 61 of 1973), after which the Registrar of Companies may register the said memorandum and articles of association in accordance with the provisions of section 63 of that Act.

 

(2)The society is by such registration converted into such company.

 

(3)The Registrar of Friendly Societies shall give notice in the Gazette of such conversion.

 

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