Investment Funds, Companies and Miscellaneous Provisions Act 2005

Amendment of Industrial and Provident Societies Act 1893.

85

85.—The Industrial and Provident Societies Act 1893 is amended—

( a) in section 4( a), by substituting “€150,000 or an amount equal to 1 per cent of the total assets of the society, whichever is the greater” for the amount standing specified in that section,

( b) in section 25 (as substituted by section 5(1) of the Industrial and Provident Societies (Amendment) Act 1913)—

(i) in subsection (1), by substituting “€15,000” for the amount standing specified in each place where that amount occurs in that subsection, and

(ii) in subsection (3), by substituting “€15,000” for the amount standing specified in that subsection,

( c) in section 26(1) (as substituted by section 5(2) of the Industrial and Provident Societies (Amendment) Act 1913), by substituting “the limit specified in section 4( a) of this Act” for the amount standing specified in that subsection,

( d) in section 27(1), by substituting “€10,000” for the amount standing specified in that subsection, and

( e) in Schedule II, in paragraph 5, by substituting “the limit specified in section 4( a) of this Act” for the amount standing specified in that paragraph.