Societies' Borrowing Powers Act 1898

The Societies' Borrowing Powers Act 1898 (61 & 62 Vict. c.15), long title An Act to empower certain Societies to borrow Money from Persons and Corporations other than Members, was an Act of Parliament of the Parliament of the United Kingdom, given the Royal Assent on 25 July 1898 and repealed in 1974.

The Act provided that a society was permitted to institute a rule allowing it to take deposits and borrow money (at interest) from its members and from any other persons; as soon as such a rule was registered it was permitted to do so.

The Act stipulated that the society had to be registered under the Friendly Societies Act 1896, and have as its object the creation of funds to be lent out for the benefit of the members of the society (or to members of the society), with rules in place to prevent the division of the funds among its members by dividends, profits or the like, and to ensure that all loans were to be applied for purposes of which the society approved.^[1]

The Act was repealed by the Friendly Societies Act 1974.^[2]

References

↑ The public general acts passed in the sixty-first & sixty-second years of the reign of her majesty Queen Victoria. London: printed for Her Majesty's Stationery Office. 1898.
↑ Chronological table of the statutes; HMSO, London. 1993.

United Kingdom legislation

Pre-Parliamentary legislation	List of English statutes Charter of Liberties Magna Carta

Acts of Parliament by states preceding the Kingdom of Great Britain	Acts of the Parliament of England to 1483 1485–1601 1603–1641 Interregnum (1642–1660) 1660–1699 1700–1706 Acts of the Parliament of Scotland Acts of the Parliament of Ireland to 1700 1701–1800

Acts of Parliament of the Kingdom of Great Britain	1707–1719 1720–1739 1740–1759 1760–1779 1780–1800

Acts of Parliament of the United Kingdom of Great Britain and Ireland and the United Kingdom of Great Britain and Northern Ireland	1801–1819 1820–1839 1840–1859 1860–1879 1880–1899 1900–1919 1920–1939 1940–1959 1960–1979 1980–1999 2000 to date Halsbury's Statutes UK Statute Law Database Short titles

Church of England measures	List Church of England Assembly (Powers) Act 1919

Legislation of devolved institutions	Acts of the Scottish Parliament Acts and Measures of the National Assembly for Wales Acts of the Northern Ireland Assembly Acts of the Parliament of Northern Ireland Orders in Council for Northern Ireland

Orders-in-Council	Order in Council

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