(1) Every trade union registered under the Trade Union Acts, 1871 to 1975, or a trade union under the law of another country shall, not later than the operative date, forward to the Registrar of Friendly Societies a copy of its rules incorporating the provisions referred to in subsection (2) of section 14.

(2) A trade union failing to comply with subsection (2) of section 14 or subsection (1) of this section shall cease to be entitled to hold a negotiation licence under Part II of the Trade Union Act, 1941, and its existing licence shall stand revoked on the operative date.

(3) A body of persons shall not be granted a negotiation licence unless, in addition to fulfilling the relevant conditions specified in section 7 of the Trade Union Act, 1941, and section 2 of the Trade Union Act, 1971, as amended by section 21 of this Act, it complies with subsection (2) of section 14 and for this purpose that subsection shall have effect from the passing of this Act.