Section 69

The application for registration referred to in subsection (1) above shall be accompanied by a general statement of the assets and liabilities of such mutual benefit society prepared in such form and containing such particulars as the Registrar may require, and, if the Registrar shall so require, by a copy of the rules of such mutual benefit society. Such application shall not be subject to the payment of any fee.

In the event of a mutual benefit society registered under any of the Ordinances repealed by the preceding section failing to apply for registration pursuant to the provisions of sub-section (1) above or to comply with the provisions of this Act within the aforesaid period of ninety days, it shall immediately upon the expiration of that period be deemed to be dissolved, and its funds shall be disposed of in accordance with the rules of the mutual benefit society (if any) or if there are no such rules applicable to such case, then the funds shall be divided proportionately to the amount of contributions paid by every member.