Commentary on Sections Schedule 27 - Minor and consequential amendments Paragraphs 24 and 25 - Industrial and Provident Societies Act 1965 (c. 12)
936.A member of an industrial and provident society registered under the Industrial and Provident Societies Act 1965 can request that, when they die, any property they may have in the society be transferred to a nominated person. However, under section 23, a member is permitted to nominate an officer or a servant of the society only if they are the member’s spouse, parent, child, sibling, nephew or niece. Paragraphs 24 and 25 extend this list to include the member’s civil partner.
937.The 1965 Act also provides that, where a member of an industrial and provident society marries, any nomination made previously is revoked so that on the death of the member the property formerly subject to the nomination belongs to the estate of the deceased member. These paragraphs make corresponding provision for civil partners, so that where a member of such a society forms a civil partnership, any previous nomination is revoked.
938.Under section 25, where a member of an industrial and provident society dies leaving property of not more than £5000 in the society, in certain circumstances the society must deal with that property in accordance with a direction from the Treasury unless the member is survived by a child, parent, widow or widower. These paragraphs extend this list to include the member’s surviving civil partner.