LFSs were regulated by laws enacted in the 1830s and 1840s and were required to register with a central Loan Fund Board (LFB) located in Dublin Castle whereas all other Friendly Societies were registered with the Registrar of Friendly Societies. In their studies of LFSs, Hollis and Sweetman did not make reference to the existence of FSLFs; this is understandable because they were grouped with Friendly Societies returns.
The situation circa 1857 is shown in the following passage from a report of the Registrar of Friendly Societies in Ireland:
ATHE correct address for the Registrar of Friendly Societies
is Victoria House, 30-34 Kingsway, London WC2B 6ES.
Registrar of friendly societies
Noel Martin Sisk said many of the societies had failed to "meet their statutory obligations over many years."
The Trusts are set up as industrial and provident societies governed by the Registrar of Friendly Societies
. This makes them legally more robust than supporters' associations.
The six-month probe by the Registrar of Friendly Societies
, Noel Sisk, is understood to have ruled out any question of serious irregularities or breaches of credit union law, but has criticised certain aspects of the credit union's operations.