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• 1930. NEW ZEALAND

FRIENDLY SOCIETIES AND TRADE-UNIONS. FIFTY-THIRD ANNUAL REPORT BY THE REGISTRAR OF FRIENDLY SOCIETIES FOR THE YEAR ENDED 31st DECEMBER, 1929.

Presented to both Houses of the General Assembly pursuant to the Friendly Societies Act, 1909, Section 9, and the Trade-unions Act, 1908, Section 16.

The Registrar of Friendly Societies to the Hon. the Minister. Sir, — Wellington, Ist July, 1930. I have the honour to submit the annual report of this Office for the year ended 31st December, 1929, in accordance with the provisions of the Friendly Societies Act, 1909, section 9, and the Tradeunions Act, 1908, section 16. I, have, &c., R. Witheford, Registrar of Friendly Societies.

REPORT. General. The membership of friendly societies shows an increase of 4,226 during the year, equal of 4.19 per cent., the number of members at the 31st December being 105,154. Total accumulated funds of societies increased from £3,728,087 to £3,927,433, an increase of £199,346, and the average capital per member from £36 18s. 9d. to £37 7s. Net interest credited to the Sick and Funeral Funds during the year amounted to £183,027, equal to a rate of £5 14s. lid. per cent., as compared with £5 13s. 2d. per cent, during 1928. The average contributions and interest per member credited to the Sick and Funeral Funds rose from £3 lis. sd. to £3 12s. 4d., and the cost of sickness and funeral benefits from £1 12s. 9d. to £1 13s. 10d.. while the net gain in these funds for the year amounted to £1 4s. per member. The number of members who died during the year was 868, equal to 8-39 per thousand members at risk, as against 756 and 7-56 respectively during 1928. Legislation. The Finance Act, 1929, contains the following provisions relative to the funds of friendly societies :— Section 42 : " (1) Where a friendly society or branch registered under the Friendly Societies Act, 1909, has more than one benefit fund, it may, if the rules of the society so provide and with the consent of the Actuary and the Registrar, transfer from any benefit fund which has been reported to possess a surplus at the last actuarial valuation so much thereof as can be safely used to any benefit fund or benefit funds of such society or branch reported at the last actuarial valuation to be deficient; and if in the opinion of the Registrar the circumstances in any case are exceptional, it may with the like consents appropriate so much of the surplus of any benefit fund as can be safely used for any of the purposes mentioned in subsection one of section forty-one of the Friendly Societies Act, 1909, notwithstanding that the society or branch may not possess a. surplus when all its funds are taken into account.

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