Nominees

(1) Every appointment of a nominee by any member of a registered society for the purposes of section 17 of the Act shall be made in writing signed by the member in the presence of two attesting witnesses. 9 (2) No member of a registered society with share capital shall be entitled to appoint more than one nominee unless that member holds more than one share. (3) In any case where more than one nominee is appointed by any member the number of shares to be transferred or the exact proportion of the amount available that is to be transferred to each of these nominees shall be specified at the time of the (4) Every appointment of a nominee shall be recorded in the (5) For the purpose of a transfer to a nominee, the value of any share or interest shall be represented by the sum actually paid for that share or interest by the member holding it unless the by-laws of the registered society otherwise provide. (6) Where any money is paid to a nominee who is a minor, a receipt given either by the minor or by his guardian shall be sufficient discharge to the registered society.