Section 24

upon the death or bankruptcy of any office-bearer of a registered society having in his possession by virtue of his office any money or property belonging to the society; or

if any execution, attachment or other process is issued or action taken against any such officer or against his property, his heirs, executors or administrators or the Official Assignee or the Bailiff of the Supreme Court or other person executing the process or the party taking the action, shall upon demand made in writing by the trustees of the registered society or any two of them or any person authorised by the registered society to make the demand, pay the money and deliver over the property to the trustees of the registered society in preference to any other debt or claim against the estate of the office-bearer.