asked whether friendly societies and trade unions giving benefits similar to the sickness benefit under the National Insurance Act, and which do not wish to bcome approved societies under the Act, are compelled to bring in a scheme under Section 72, or whether they may be dissolved in accordance with their existing rules under the provisions of the Friendly Societies Acts, or continue their business in their own way without bringing in any such scheme?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Masterman)
Section 72 applies to all registered friendly societies, whether they decide to apply for approval or not, but not to trade unions or unregistered friendly societies. The Act does not deprive a society of any right to dissolve, existing under its rules. It is doubtful whether a society can exercise any such right before complying with the statutory requirements of Section 72.