On 23/05/2013,
you requested for the version in force on 23/05/2013
incorporating all amendments published on or before 23/05/2013.
The closest version currently available is that of 01/09/2009.
45.
—(1) Subject to subsection (3), a member of a society may in writing nominate a person in the presence of at least 2 witnesses, to whom on the death of the member the society may transfer the share or interest.
(2) Every society shall keep a register of all persons so nominated.
(3) Where a society is the insurer of any relevant policy, and a member of the society is the policy owner of that relevant policy, the member shall not be entitled, on or after the date of commencement of section 11 of the Insurance (Amendment) Act 2009, to nominate under subsection (1) any person to whom on the death of the member the society may transfer the member’s share or interest in any policy moneys under that relevant policy.
(4) In this section —
“policy owner” and “policy moneys” have the same meanings as in the First Schedule to the Insurance Act (Cap. 142);
“relevant policy” has the same meaning as in section 49K of the Insurance Act.