Chief Registrar of Friendly Societies (Hansard, 12 January 1981)

§ Mr. Lawson

The statutory functions of the Chief Registrar and of the Central Office of the Registry, of which he is the senior member, are contained mainly in the Building Societies Act 1962. They are, briefly,

(i) to give (or to withhold) permission for a new society to commence advertising (section 14 of the 1962 Act);
(ii) to approve the statements required to be sent to members of a society which is a party to a merger or granting exemptions from this requirement (section 20);
(iii) to increase the limits for special advances and exercising certain powers to relax the requirements relating to special advances (sections 21–24);
(iv) to extend the classes of permitted additional security that a building society may accept (section 26(5));
(v) to approve arrangements which building societies may seek to enter into for the protection of investors from loss (section 43);
(vi) to empower a building society to lend money to another society when the latter is in financial difficulty (section 44);
(vii) power to prohibit a society from accepting further funds (section 48);
(viii) power to control advertising (section 51). This power and that mentioned at (vii) involve a number of ancillary and consequential powers (sections 49–54);
(ix) power to impose restrictions and requirements upon small societies (section 55);
(x) prescribing by statutory instrument the manner in which surplus funds of a building society may be invested (section 58);
(xi) designations of banks qualified to hold building societies' funds (section 59);
(xii) to consider and decide applications by members of societies to obtain names and addresses of members from societies' registers of members (section 63);
(xiii) power to call an annual general meeting if the society defaults in holding one (section 64(4));
(xiv) to prescribe the form and contents of societies' balance sheet and accounts (section 78):
(xv) to receive copies of documents to be laid before members at societies' annual general meetings (section 83(1));
(xvi) to prescribe the form and contents of annual returns to be made by societies (section 88);
(xvii) power of releasing auditors from dealing with some matters in their report upon an annual return (section 91);
(xviii) to receive copies of annual returns (section 86) and certain additional returns (section 91) together with auditors reports;
(xix) to determine disputes involving a society and a member of the society;
(xx) to present a petition to the court to wind up a building society in certain circumstances (section 110);
(xxi) to appoint an inspector to enquire into and report on the affairs of a building society or to call a special meeting of a society (section 110);
(xxii) to institute proceedings in respect of offences (section 111);
(xxiii) to make an annual report to Parliament and the Treasury of the proceedings of the Registry (section 118);
(xxiv) to make rules or regulations by statutory instrument (section 123);
(xxv) to designate building societies for the purpose of the House Purchase and Housing Act 1959, whereby a building society is entitled to receive investments by trustees;

The following functions are exercised by the Central Office:

(xxvi) to consider and decide upon applications of new societies for incorporation, including consideration of their name and rules and the issuing of certificates of incorporation (sections 1–4);
(xxvii) to issue a certificate enabling a society, after production of evidence of having satisfied certain specified conditions, to commence business (section 13);
(xxviii) to authorise a change of name, and to register proposed changes of rules, of a society (sections 16 and 17);
(xxix) to consider and to register those documents required by statute in respect of mergers, deposit books, registers of members, changes of directors or secretary, disputes, dissolution, winding-up, changes of registered office, prosecutions for offences, and the cancellation or suspension of registration (various sections of the Act).

In addition to his statutory functions and powers in relation to building societies, the Chief Registrar's general functions include;

(a) the monitoring of the operations of each building society and, where appropriate, tendering advice to ensure, so far as is possible, that they are following sensible and prudent policies;
(b) consideration of the efficacy of current building society legislation and of any suggestions and proposals for its amendment;
(c) representing, when required, within Government Departments, the interests of building societies and their members;
(d) representing official views in discussions etc., with representative bodies and other organisations concerned in the operation of building societies generally;
(e) considering and, where appropriate investigating representations and complaints made to him by or on behalf of, members of building societies and taking appropriate consequential action.