Section 25, sub-section 1, of the Industrial and Provident Societies Act 1893 provides that a member may nominate a person to whom his property in the society ‘shall be transferred at his decease, provided that the amount credited to him in the books of the society does not then exceed pounds 100 sterling.’
Held ( diss. Lord Shaw) that the word ‘then’ was referable to the date of nomination, not to that of the member’s death.
Judges:
Lord Chancellor (Loreburn), Lords Atkinson, Shaw, and Mersey
Citations:
[1912] UKHL 1035, 49 SLR 1035
Links:
Jurisdiction:
England and Wales
Banking
Updated: 25 April 2022; Ref: scu.619234