|
Companies to which this Act applies.
|
2.—This Act applies to every company registered in Saorstát Eireann under the Companies (Consolidation) Act, 1908 which complies with the following conditions, that is to say:—
|
| |
(a) the objects of the company must be wholly or mainly one or both of the following, that is to say:—
|
| |
(i) the mutual insurance of its members against damage by or incidental to fire caused to the houses or other property owned or occupied by them, and
|
| |
(ii) the mutual insurance of its members against liability to pay compensation or damages to workmen employed by them, and
|
| |
(b) the liability of its members must be limited by guarantee and the amount to be guaranteed by any one member must not exceed ten pounds, and
|
| |
(c) the company must not have a share capital, and
|
| |
(d) all the members of the company must be local authorities.
|