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\li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid16674952 THE COOK ISLANDS CO-OPERATIVE SOCIETIES }{ \b\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid16674952 REGULATION}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid16674952 1953 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12066385 C.W.}{\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid11555658 M}{\fs24\lang2057\langfe1033\langnp2057\insrsid12066385 .}{ \fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid11555658 NORRIE, Governor-General \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12066385 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid12066385 ORDER IN COUNCIL \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid11555658 \par At the Government House at Wellington, this 19th day of August 1953 \par \par Present: \par \par HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL \par \par PURSUANT to the Cook Islands Act 1915, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council }{\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 hereby makes the following }{ \fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 REGULATION}{\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4207089\charrsid11555658 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid16674952 PART I}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid12066385 }{ \b\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid16674952 -}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid12066385 }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid16674952 PRELIMINARY \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid16674952 Title and Commencement \par }\pard \ql 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(1) These }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{ \fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 may be cited as the Cook Islands Co-operative Societies }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{ \fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 1953. \par \par (2) These }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid11742755\charrsid11555658 shall come into force in the Cook Islands other than Niue on the day after the date on which they are f irst publicly notified by the Resident Commissioner of Rarotonga, and shall come into force in the Island of Niue on the day after the date on which they are first publicly notified by the Resident Commissioner of Niue. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid16674952 Arrangement of }{\i\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid16674952 Regulation }{\i\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid3551174 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 . These }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 are arranged as follows: \par \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid16674952 PART I-PRELIMINARY \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 1}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Title and Commencement \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 2}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Arrangement of }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 . \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 3}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Interpretation. \par \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid16674952 PART II REGISTRATION \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Appointment of 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\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Application for Registration. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 8}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Registration. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 9}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Societies to be Bodies Corporate. \par \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid16674952 PART III \endash DUTIES AND PRIVILEGES OF SOCIETIES \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 10}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 By-laws of a Registered Society. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 11}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Amendment of the By-laws of a Registered Society. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 12}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Address of Society. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 13}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Copy of }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 , Rules and By-laws and List of Members to be Open for Inspection \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 14}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Disposal of Produce to or Through a Registered Society. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 15}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Creation of Charges in Favour of Registered Societies. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 16}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 Charge and Set off in Respect of Shares or Interest of Members. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 17}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 Shares or Interest Not liable to Attachment.}{\fs24\lang2057\langfe1033\langnp2057\insrsid14767520\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 18}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 Transfer Interest on Death of Member. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 19}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 Deposits by or on Behalf of Minors. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 20}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 }{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 Register of Members \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 21}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 Proof of Entries in Books of Society. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid16674952 PART IV \endash RIGHTS AND LIABILITIES OF MEMBERS \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 22}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 Qualification for Membership.}{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 23}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 Members Not to Exercise Rights Till Due Payment made. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 24}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 Restriction of Membership in Society. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 25}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 Votes of Members. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 26}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 Representation by Proxy. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 27}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid6554411 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid11555658 Contracts with Society of Members who are Minors.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3607467\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid11555658 28}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid11555658 No Individual to Hold More Than One-fifth of Share Capital of any Society. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid11555658 29}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid11555658 Restrictions on Transfer of Share or Interest. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid11555658 30}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid11555658 Limitation of Liability of Members. \par \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid16674952 PART V- PROPERTY AND FUNDS OF REGISTERED SOCIETIES \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid16674952 REGULATION}{\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid16674952 1953/106}{\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid16674952 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid16674952 \par AMENDING }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid16674952 REGULATION}{\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid16674952 :- \par \par Amint No. 1 1957/53. \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid12588427\charrsid16674952 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid16674952 PART VI \endash AUDIT, INSPECTION AND INQUIRY}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid1251499\charrsid16674952 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 36}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Audit. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 37}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Power of Registrar to Inspect Society's Books. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 38}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Inquiry and Inspection. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 39}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Costs of Inquiry and Inspection. \par \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid16674952 PART VII \endash WINDING UP \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 40}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Winding Up After Inquiry or By Consent. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 41}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Winding Up Due to Lack of Membership or Failure to Carry on Operations, etc. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 42}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Appointment of Liquidator. \par Regulation 43}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Liquidator's Powers. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 44}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Powers of Registrar to Control Liquidation. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 45}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Enforcement of Order. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 46}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Appeal Against Order of Liquidation or Registrar. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 47}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 Completion of Liquidation and Dissolution of }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Society}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 . \par \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid16674952 PART VIII \endash SURCHARGE OR OFFICERS \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation 48}{\fs24\lang2057\langfe1033\langnp2057\insrsid13784579\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Powers of Reg istrar to Surcharge Officers of a Registered Society.}{\fs24\lang2057\langfe1033\langnp2057\insrsid5774274\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Regulation 49}{\fs24\lang2057\langfe1033\langnp2057\insrsid13784579\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid6036051\charrsid11555658 Appeal to Resident Commissioner \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid16674952 PART IX - DISPUTES \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 \par Regulation 50}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 Settlement of Disputes \par Regulations 51}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 Appeal. \par \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid16674952 PART X-RULES \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 \par Regulations 52}{\fs24\lang2057\langfe1033\langnp2057\insrsid13784579\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 Rules \par Regulations 53}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 Recovery of Sums Due to Crown. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Regulations 54}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Power to Exempt from Stamp Duty and Registration Fees.}{\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Regulations 55}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Prohibition of the Use of the Word }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Co-operative}{ \fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 . \par Regulations 56}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Cook Islands Native Companies Regulations 1923 Not to Apply to Registered Societies. \par Regulations 57}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Offences. \par Regulations 58}{\fs24\lang2057\langfe1033\langnp2057\insrsid6554411\charrsid11555658 . -}{\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid11555658 Penalty for Soliciting Violation of Contract. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid16674952 Interpretation}{\i\fs24\lang2057\langfe1033\langnp2057\insrsid935740\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid3551174 3}{\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 . In these regulations, unless the context otherwise requires, -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 Bonus}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 m eans a share of the profits of a registered society divided among its members in proportion to the volume of business done with the society by them from which the profits of the society were derived; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 By-laws}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 means the registered by-laws made by a society in the exercise of any power conferred by these regulations, and includes a registered amendment to the by-laws; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 Committee}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 means the governing body of a registered society to whom the management of its affairs is entrusted; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 Dividend}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 means a share}{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 o f the profits of a registered society divided among its members in proportion to the share capital held by them;}{\fs24\lang2057\langfe1033\langnp2057\insrsid1771188\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 Member}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 includes a person or registered society joining in the application for the registration of a society; and also includes a person or registered society admitted to membership after registration in accordance with the by-laws; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 Officer}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 includes a chairman, secretary, treasurer, member of committee, or other person empowered under these regulation or under by-laws to give direction in regard to the business of a registered society; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 Registered society}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 means a co-operative society registered under these regulations; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 Registrar}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 means the Registrar of Co-operative Societies appointed under regulation 4 of these regulations; and include s any person when exercising such powers of the Registrar as may have been conferred upon him under that regulation; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 Resident Commissioner}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 means the Resident Commissioner of Rarotonga or the Resident Commissioner of Niue, as the case may be; \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 Rules}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid11555658 means rules made under regulation 52 of these regulations. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid12088179\charrsid16674952 PART II - REGISTRATION \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14316787\charrsid11555658 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid16674952 Appointment of Registrar and Assistant Registrars}{ \i\fs24\lang2057\langfe1033\langnp2057\insrsid8525910\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid3551174 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 . (1) There may be appointed under the provisions of section 19 of the Finance Act 1931 (No.2)- \par \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 (a) A Registrar of Co-operative Societies for the Cook Islands other than Niue; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 (b) A Registrar of Co-operative Societies for the Island of }{ \fs24\lang2057\langfe1033\langnp2057\insrsid5112305\charrsid11555658 Niue}{\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 ; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 (c) Such other suitable persons to assist those Registrars as may be deemed necessary. \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 \par (2) The Resident Commissioner of Rarotonga or the Resident Commissioner of Niue, as the case may be, may be notice publicly displayed, confer on any persons appointed under paragraph (c) of subclause (l) of this regulation all or any of the powers of the Registrar under these regulations. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid16674952 Societies Which May be Registered \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14693322\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid3551174 5}{\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid11555658 . Subject to the provisions hereinafter contained, a society which has as its object the promotion of the economic interests of its members in accordance with co-operative principles, or a society establis hed with the object of facilitating the operations of such a society, may be registered under these regulations with limited liability. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid16674952 Conditions of Registration \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid3551174 6}{\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid11555658 . (1) No society, other than a society of which at least one member is a registered societ y, shall be registered under these regulations, unless it consists of at least ten persons, each of whom is qualified for membership under regulation 22 hereof. \par \par (2) No society of which any member is a registered society shall be registered under these reg ulations unless it consists of at least two members, each of whom in the case of members other than registered societies is qualified for membership under regulation 22 hereof. \par \par (3) The word }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid11555658 co-operative}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid11555658 or its vernacular equivalent shall form part of the name of every society registered under these regulations. \par \par (4) The word }{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid11555658 limited}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 "}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid11555658 or its vernacular equivalent shall be the last word in the name of every society registered under these regulations. \par \par (5) When for the purposes of this regulation any question arises as the age, residence, or occupation of land constituting the qualification of any person, that question shall be decided by the Registrar, whose decision shall be final. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid16674952 Application for Registration}{ \i\fs24\lang2057\langfe1033\langnp2057\insrsid14816700\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid3551174 7. }{\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid11555658 (1) For the purposes of registration an application shall be made to the Registrar. \par \par (2) The application shall be signed,- \par \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid11555658 (a) In the case of a society of which no member is a registered society, by at least ten persons qualified in accordance with the requirements of regulation 6(1) hereof; and \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid11555658 (b) In the case of a society of which at least one member is a registered society, by a duly authorized person on behalf of every such registered society and, where all the members of the society are not registered societies, by each of the other members. \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid11555658 \par (3) The application shall be accompanied by copies of the proposed by-laws of the society, and the persons by whom or on whose behalf the application is made shall furnish such information in regard to the society as the Registrar may require. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid2581337\charrsid16674952 Registratio}{\i\fs24\lang2057\langfe1033\langnp2057\insrsid7029755\charrsid16674952 n}{ \i\fs24\lang2057\langfe1033\langnp2057\insrsid16390665\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid11034598\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid11034598\charrsid3551174 8}{\fs24\lang2057\langfe1033\langnp2057\insrsid11034598\charrsid11555658 . (1) If the Registration is satisfied that a society has complied with the provisions of these regulations and that its proposed by-laws are not contrary to these regulations, he may, if he thinks fit, register the society and its by-laws. An appeal against the refus al of the Registrar to register any society shall lie to the Respondent Commissioner within one month from the date of that refusal, and the decision of the Resident Commissioner on any such appeal shall be final. \par \par (2) On registration the society shall pay such fee as may be prescribed by the rules. \par \par (3) A certificate of registration signed by the Registrar shall be conclusive evidence that the society therein mentioned is duly registered, unless it is proved that the registration of the society has been cancelled. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid11034598\charrsid16674952 Societies to be Bodies Corporate \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9922934\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid11034598\charrsid3551174 9}{\fs24\lang2057\langfe1033\langnp2057\insrsid11034598\charrsid11555658 . }{\fs24\lang2057\langfe1033\langnp2057\insrsid9922934\charrsid11555658 Registration of a society shall render it a body corporate by the name under which it is registered, with perpetual succession and a common seal and with power to acquire, hold, and dispose of property, to enter into contracts, to institute and defend sui ts and other legal proceedings, and to do all thins necessary for the purpose of its constitution.}{\fs24\lang2057\langfe1033\langnp2057\insrsid11034598\charrsid11555658 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9922934\charrsid11555658 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid9922934\charrsid16674952 PART III-DUTIES AND PRIVILEGES OF SOCIETIES \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9922934\charrsid11555658 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid9922934\charrsid16674952 By-laws of a Registered Society}{ \i\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid3551174 10}{\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 . (1) Every registered society shall have by-laws which, subject to the provi sions of these regulations and the rules, shall provide for the following matters: \par \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (a) The name of the society; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (b) The objects for which the society is established; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (c) The modes in which persons become members of the society; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (d) The modes in which persons cease to become members of the society; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (e) The mode in which the by-laws may be altered, added to, or rescinded; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (f) The mode of summoning and holding general meetings of the society and of voting thereat; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (g) The appointment of officers of the society; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (h) The control and use of the common seal of the society; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (i) Such matters as by these regulations or the rules are required to be prescribed by the by-laws; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 (j) Such other matte rs as the Registrar may require to be provided for in any particular instance. \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid11555658 \par (2) The by-laws of any registered society may contain any other provisions which are not inconsistent with these regulations or the rules or with law. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid16674952 Amendment}{\i\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid16674952 of the By-laws of a Registered Society}{\i\fs24\lang2057\langfe1033\langnp2057\insrsid9897437\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid11555658 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid11555658\charrsid3551174 11}{\fs24\lang2057\langfe1033\langnp2057\insrsid11555658 . (1) Any registered society may, subject to these regulations, amend its by-laws, including the by-law which declares the name of the society. \par \par (2) No amendment of the by-laws of a registered society shall be valid until that amendment has been registered, for which purpose copies of the amendment has been registered, for which purpose copies of the amendment shall be forwarded to the Registrar. \par \par (3) If the Regi strar is satisfied that any amendment of the by-laws is not contrary to these regulation, he may, if he thinks fit, register the amendment. An appeal against the refusal of the Registrar to register any amendment of any by-law shall lie to the Resident Co mmissioner within one month from the date of that refusal, and the decision of the Resident Commissioner on any such appeal shall be final. \par \par (4) An amendment which changes the name of a society or of any of its members or past members, an any legal proceedings pending may be continued by or against the society under its new name. \par \par (5) Where the Registrar registers an amendment of the by-laws of a registered society he shall issue to the society a copy of the amendment certified by him, which shall be conclusive evidence of the fact that the amendment has been duly registered. \par \par (6) In this regulation the term "amendment" includes the making of a new by-law and the variation or rescission of a by-law. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid6502795\charrsid16674952 Address of Society \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid6502795\charrsid3551174 12}{\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 . Every registered society shall have an address within the Cook Islands, registered in accordance with the rules, to which all notices and communication may be sent, and shall send to the Registrar notice of every change of that address. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid6502795\charrsid16674952 Copy of Regulations, Rules and By-laws and List of Members to be Open for Inspection \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid6502795\charrsid3551174 13}{\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 . (1) Every registered socie ty shall keep a copy of these regulations and the rules and its by-laws and a list of its members open to inspection, free of charge, at all reasonable times at the registered address to the society. \par \par (2) For the purpose of }{\fs24\lang2057\langfe1033\langnp2057\insrsid1271928 subclause}{\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 (1) of this regulation the copy of the rules and the by-laws of any society shall be deemed to include all amendments thereto, and the society shall cause to be endorsed on the copy of the rules or by-laws so kept a memorandum of every such amendment. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid6502795\charrsid16674952 Disposal of Produce to or Through a Registered Society \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid6502795\charrsid3551174 14}{\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 . (1) A registered society which has as one of its objects the disposal o any article produced or obtained by the work or industry of any of its members (whether the article is the produce of agriculture, animal husbandry, forestry, fisheries, handicrafts, or otherwise) may provide in its by-laws or may otherwise contract with its members- \par \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 (a) That every such member who produces any such articles shall dispose of the whole or any specified amount, proportion, or description thereof to or through the society; and \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid5973229 (b) That any member who is proved or adjudged in such manner as may be prescribed by the rules, to be guilty of a breach of they by-laws or contract shall pay to the society as liquidated damages as sum ascertained or assessed in such manner as may be prescribed by the foresaid rules, and that sum shall be a debt due to the society by the member.}{\fs24\lang2057\langfe1033\langnp2057\insrsid6502795 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid5973229 \par (2) No contract entered into under the provisions of this regulation shall be contested in any Court on the ground only that it constitutes a contract in restraint of trade. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid5973229\charrsid16674952 Creation of Charges in Favour of Registered Societies \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid5973229 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid5973229\charrsid3551174 15}{\fs24\lang2057\langfe1033\langnp2057\insrsid5973229 . Subject to any prior claim of the Crown on the property of a debtor, and to the claim of the holder of any lien on any property, and to the cla im of a landlord in respect of rent or any money recoverable as rent, and, in the case of immovable property, to any prior registered charge thereon, and subject also to Part XVI of the Cook Islands Act 1915,- \par \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid5973229 (a) Any debt }{\fs24\lang2057\langfe1033\langnp2057\insrsid7215614 or outstanding demand payable to a registered society by any member or past member shall be a first charge on all crops or together agricultural produce, felled timber, or other forest produce, marine produce, fish (fresh water and salt water), livestock fodder, agriculture, industrial a nd fishing implements, plant, machinery, boats, tackle and nets, raw material, stock in trade, and generally all produce of labour and things used in connection with production and raised, purchased, or produced in whole or in part form any loan whether i n money or in goods given him by the society:}{\fs24\lang2057\langfe1033\langnp2057\insrsid5973229 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11555658 {\fs24\lang2057\langfe1033\langnp2057\insrsid14764194 \par }\pard \ql \li1440\ri0\nowidctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid7215614 Provided that nothing in this paragraph}{\fs24\lang2057\langfe1033\langnp2057\insrsid14764194 shall affect the claim of any bona fide purchaser or transferee without notice;}{\fs24\lang2057\langfe1033\langnp2057\insrsid7215614 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid14764194 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid14764194 (b) Any outstanding demands or dues payable to a registered society whose primary object is the provision of housing for its members by any member or past member in respect of rent, shares, loans, or purchase money or any other rights or amounts payable to the society shall be a first charge upon his interest in the immovable property of the society. \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid14764194 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid10908978\charrsid16674952 Charge and Set off in Respect of Shares or Interest of Members}{ \i\fs24\lang2057\langfe1033\langnp2057\insrsid14764194\charrsid16674952 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid10908978 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid10908978\charrsid3551174 16}{\fs24\lang2057\langfe1033\langnp2057\insrsid10908978 . A registered society shall have a charge upon the shares or interests in the capital and on the deposits of a member }{ \fs24\lang2057\langfe1033\langnp2057\insrsid138236 or past member or deceased member, and upon any dividend, bonus, or profits payable to a member or past member or to the estate of a deceased member, in respect of any debt due to the society from that member or past member or estate, and may set off any sum credited or payable to a member or past member or estate of a deceased member in or towards payment of any such debt.}{\fs24\lang2057\langfe1033\langnp2057\insrsid10908978 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid138236 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid138236\charrsid16674952 Shares or Interest Not Liable to Attachment \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid138236 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid138236\charrsid3551174 17}{\fs24\lang2057\langfe1033\langnp2057\insrsid138236 . Subject to the provisions of regulation 16 hereof, the share or interest of a member in the capital of a registered society shall not be liable to attachment or sale under any decree }{\fs24\lang2057\langfe1033\langnp2057\insrsid16260028 or order of any Court in respect of any debt or liability incurred by the member, and neither his assignee in insolvency or a receiver duly appointed shall be entitled to or have any claim on that share or interest.}{ \fs24\lang2057\langfe1033\langnp2057\insrsid138236 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16260028 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid16260028\charrsid16674952 Transfer of Interest on Death of Member \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid16260028 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid16260028\charrsid3551174 18}{\fs24\lang2057\langfe1033\langnp2057\insrsid16260028 . (1) On the death of a member, a registered society may transfer the share or interest of the deceased member to the person nominated in accordance with the rules make in that behalf, or, if t here is no person so nominated, to such person as may appear to the committee to be the heir or legal representative, as the case may be, a sum representing the value of the member's share or interest, as ascertained in accordance with the rules or, where there are no such rules or in so far as the rules do not provide, by the by-laws: \par \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid16260028 Provided that the society may transfer the share or interest of the deceased member to that nominee, heir, or legal representative, as the case may be, being qualified in ac cordance with the rules or in so far as the rules do not provide, by the by-laws of the society, or on his application within six months of the death of the deceased }{\fs24\lang2057\langfe1033\langnp2057\insrsid8216486 member to any person specified in the application who is so qualified.}{\fs24\lang2057\langfe1033\langnp2057\insrsid16260028 \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid8216486 \par (2) A registered society shall pay to that nominee, heir, or legal representative, as the case may be, all other moneys due to the deceased member of the society. \par \par (3) All transfer and payment made by a registered society in accordance with the provision of this regulation shall be valid and effectual against any demand upon the society by any other person. \par \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid8216486\charrsid16674952 Deposits by or on Behalf of Minors \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid8216486 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid8216486\charrsid3551174 19}{\fs24\lang2057\langfe1033\langnp2057\insrsid8216486 . (1) A registered society may receive from or on behalf }{\fs24\lang2057\langfe1033\langnp2057\insrsid4130099 of minors who are members, and it shall be lawful for a registered society to pay to any such minors the interest which may become due on those deposits.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8216486 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4130099 \par (2) Any deposits made by minor may, together with the interest accrued thereon, be paid to that minor; and any deposit made on behalf of a minor may, together with the interest which may become due on those deposits. \par \par (2) Any deposits made by a minor may, together with the interest accrued thereon, be paid to that minor; and any deposit made on behalf of a minor may, together with the interest accrued thereon, be paid to the guardian of that minor for the use of the minor. \par \par (3) The receipt of any minor or guardian for money paid to him under this regulation shall be a sufficient discharge of the liability of the society in respect of that money. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4135413 \par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid4135413\charrsid3551174 20}{\fs24\lang2057\langfe1033\langnp2057\insrsid4135413 . Any register or list or members kept by any registered society shall be prim a facie evidence of any of the following particulars entered therein: \par \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid4135413 (a) The date at which the name of any person was entered in the register or list as a member; \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid4135413 \par }\pard \ql \li720\ri0\nowidctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\lang2057\langfe1033\langnp2057\insrsid4135413 (b) The date at which any such person ceased to be a member. \par }\pard \ql \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14764194 {\fs24\lang2057\langfe1033\langnp2057\insrsid4135413 \par }\pard \qc \li0\ri0\nowidctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\lang2057\langfe1033\langnp2057\insrsid4135413\charrsid16674952 Proof of Entries in Books of Society \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\insrsid4135413\charrsid12349774 \par }{\b\fs24\insrsid4135413\charrsid3551174 21}{\fs24\insrsid4135413\charrsid12349774 . (1) A copy of any entry in a book of a registered society regularly kept in the course of a business shall, if certified in such manner as may be prescribed by the rules, be received in any legal proceeding in any Court (civil or criminal) as prima facie evidence of the existence of that entry, and shall be admitted as evidence of the matters, transaction, and accounts therein recorded in every case where, and to the same extent as, the original entry itself is admissible.}{ \fs24\insrsid4135413 \par }{\fs24\insrsid12349774 \par }{\fs24\insrsid13252709 (2) No officer of a ny such society shall, in any legal proceedings to which the society is no a party, be compelled to produce any of the society's books and contents of which can be proved under subclause (l) of this regulations, or to appear as a witness to prove any matt ers, transactions, or accounts therein recorded, unless the Court for special reasons so directs.}{\fs24\insrsid12349774 \par }{\fs24\insrsid13252709 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\b\fs24\insrsid13252709\charrsid16674952 PART IV \endash RIGHTS AND LIABILITIES OF MEMBERS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid13252709 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\insrsid14954582\charrsid16674952 Qualification for Membership}{\i\fs24\insrsid13252709\charrsid16674952 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid14954582 \par }{\b\fs24\insrsid14954582\charrsid3551174 22}{\fs24\insrsid14954582 . In order to be qualified for membership of a society a person, other than a registered society, must- \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\insrsid7825023 (a) Have attained the age of eighteen years; and}{\fs24\insrsid14954582 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid7825023 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16674952 {\fs24\insrsid7825023 (b) Be resident within or a titleholder by Cook Islands custom within the society's area of operation as described by the by-laws. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid7825023 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\insrsid7825023\charrsid16674952 Members Not to Exercise Rights till due Payment Made \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid7825023 \par }{\b\fs24\insrsid7825023\charrsid3551174 23}{\fs24\insrsid7825023 . No member of a registered society shall exercise the rights of a member unless he has made s uch payment to the society in respect of membership or acquired such interest in the society, as may be prescribed by the by-laws of the society. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\insrsid7825023\charrsid16674952 Restriction of Membership in Society \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid7825023 \par }{\b\fs24\insrsid7825023\charrsid3551174 24}{\fs24\insrsid7825023 . Except with the sanction of the Register, no person shall be a member of more then one registered society whose primary object is to grant loans to its members. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16674952 {\i\fs24\insrsid7825023\charrsid16674952 Votes of Members \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid7825023 \par }{\b\fs24\insrsid7825023\charrsid3551174 25}{\fs24\insrsid7825023 . No member of any }{\fs24\insrsid16674952 other registered society may appoint any one of its members as its proxy for the purpose of voting in he conduct of the af fairs of that other registered society:}{\fs24\insrsid7825023 \par }{\fs24\insrsid16674952 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8126498 {\fs24\insrsid16674952 Provided further that in the case of societies the membership}{\fs24\insrsid8126498 of which includes one or more registered societies, each last-mentioned society may have such voting powers as are provided in the by-laws.}{\fs24\insrsid16674952 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12349774 {\fs24\insrsid8126498 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8126498 {\i\fs24\insrsid8126498 Representation by Proxy}{\fs24\insrsid8126498 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8126498 {\fs24\insrsid8126498 \par }{\b\fs24\insrsid8126498\charrsid3551174 26}{\fs24\insrsid8126498 . A registered society that is a member of any other registered society may appoint any one of its members as its proxy for the purpose of voting in the conduct of the affairs of that other registered society}{\fs24\insrsid12787072 .}{ \fs24\insrsid8126498 \par }{\fs24\insrsid12787072 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12787072 {\i\fs24\insrsid12787072 Contracts with Society of Members who are Minors}{\fs24\insrsid12787072 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12787072 {\fs24\insrsid12787072 \par }{\b\fs24\insrsid12787072\charrsid3551174 27}{\fs24\insrsid12787072 . The minority of any person duly admitted as a member of any registered society, shall not debar that person from executing any instrument or giving any }{\fs24\insrsid13523066 acquaintance}{\fs24\insrsid12787072 necessary to be executed or given under these regulations or any rules}{\fs24\insrsid4155028 made thereunder and shall not a ground for invalidating or avoiding any contract entered into by any such person with society, whether as principle or as surety, shall be enforceable at law or against that person notwithstanding his minority or non-age.} {\fs24\insrsid12787072 \par }{\fs24\insrsid4155028 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4155028 {\i\fs24\insrsid4155028 No Individual to Hold More Than One-fifth of Share Capital of Any Society}{\fs24\insrsid4155028 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4155028 {\fs24\insrsid4155028 \par }{\b\fs24\insrsid4155028\charrsid3551174 28}{\fs24\insrsid4155028 . No member, other than another registered society, shall hold more than one-fifth of the share capital of any registered society. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\i\fs24\insrsid10312987 Restriction on Transfer of Share or Internet}{\i\fs24\insrsid4155028 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\fs24\insrsid10312987 \par }{\b\fs24\insrsid10312987\charrsid3551174 29}{\fs24\insrsid10312987\charrsid10312987 . The transfer or charge of the share or interest of a member or past member or deceased member in the capital of a registered society shall be subject to such conditions as to maximum holding as may be prescribed by these regulations or by the rules. \par }{\fs24\insrsid10312987 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\i\fs24\insrsid10312987 Limitation of Liability of Members}{\fs24\insrsid10312987 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\fs24\insrsid10312987 \par }{\b\fs24\insrsid10312987\charrsid3551174 30}{\fs24\insrsid10312987 . (1) In the event of a registered society being wound up, every present and past member of the society shall be liable to contribute to the assets of the society to an amount sufficient for payment of its debts and l iabilities, and the costs, charges, and expenses of the winding up, and for the adjustment of the rights of those members among themselves, subject to the following qualifications: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7106648 {\fs24\insrsid10312987 (a) A past member shall not be liable to contribute if he has ceased to be a member for two years or upwards before the commencement of the winding up; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\fs24\insrsid10312987 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7106648 {\fs24\insrsid10312987 (b) A past memb}{\fs24\insrsid7106648 er shall be liable to contribute in respect of any debt or liability of the society contracted after he ceased to be a member;}{\fs24\insrsid10312987 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\fs24\insrsid7106648 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7106648 {\fs24\insrsid7106648 (c) A past member shall not be lia ble to contribute unless it appears to the Registrar that the existing members are unable to satisfy the contribution required to be made by them pursuant to these regulations; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\fs24\insrsid7106648 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7106648 {\fs24\insrsid7106648 (d) In the case of a society limited by shares no contribution shall be requir ed from any member exceeding the amount, if any, unpaid on the shares in respect of which he is liable as a present or past member; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\fs24\insrsid7106648 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7106648 {\fs24\insrsid7106648 (e) In the case of society limited by guarantee no contribution shall, subject to the provisions of subclause (2) of this r egulation, be required from any present or past member exceeding the amount undertaken to be contributed by him to the assets of the society in the event of its b}{\fs24\insrsid13523066 e}{\fs24\insrsid7106648 ing wound up. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10312987 {\fs24\insrsid7106648 \par (2) In the winding up of a society limited by guarantee which has a share capi tal, every member of the society shall be liable, in addition to the amount undertaken to be contributed by him to the assets of the society in the event of its being wound up, to contribute to the extent of any sums unpaid on the shares in respect of whi ch he is liable as a past or present member. \par }{\fs24\insrsid4925029 \par (3) The personal representation of the estate of a person who was a member of a registered society at the commencement of the winding up of the society or had ceased to be a member of the society within the peri od of two years preceding the commencement of the winding up shall be liable in a due course of administration to contribute to the assets of the society in discharge of his liability. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4925029 {\i\fs24\insrsid4925029 Deposits and Loans Received by a Registered Society \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4925029 {\i\fs24\insrsid4925029 \par }{\b\fs24\insrsid4925029\charrsid3551174 31}{\fs24\insrsid4925029 . (1) A registered society shall not, except as provided by regulation 34 hereof, make any loan to any person other than a member: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4925029 {\fs24\insrsid4925029 Provided that with the consent of the Registrar, a registered society }{\fs24\insrsid13114406 may make loans to another registered society.}{ \fs24\insrsid4925029 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13114406 {\fs24\insrsid13114406 \par (2) Except with the permission of the Registrar, a registered society shall not lend money on the security of any movable property other than produce or goods in which the society is authorized to deal. \par \par (3) The Resident Commissioner may, by general or special order publicly notified, prohibit or restrict the lending of money be any registered society on mortgage of any description of immovable property. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13114406 {\i\fs24\insrsid13114406 Deposits and Loans Received by a Registered Society}{\fs24\insrsid13114406 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13114406 {\fs24\insrsid13114406 \par }{\b\fs24\insrsid13114406\charrsid3551174 32}{\fs24\insrsid13114406 . A registered society may receive deposits and loans from persons who are not members only to such extent and under such conditions as may be prescribed }{\fs24\insrsid4010377 by the rules or, where there are no such rules or in so far as the rules do not provide, by the by-laws of the society.}{\fs24\insrsid13114406 \par }{\fs24\insrsid4010377 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4010377 {\i\fs24\insrsid4010377 Restrictions on Other Transactions with Non-members}{\fs24\insrsid4010377 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4010377 {\fs24\insrsid4010377 \par }{\b\fs24\insrsid4010377 33.}{\fs24\insrsid4010377 Save as provide in regulations 31 and 32 hereof, the transactions of a registered society with person other than members shall be subject to such prohibitions and restrictions as may be prescribed by the rules. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12869209 {\i\fs24\insrsid13966643 Investment of Funds}{\fs24\insrsid12869209 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13966643 {\fs24\insrsid13966643 \par }{\b\fs24\insrsid13966643 34. }{\fs24\insrsid13966643 A registered society may invest or deposit it's funds- \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13966643 {\fs24\insrsid13966643 (a) In the Post Office Savings Bank or with any bank approved for this purpose by the Registrar; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13966643 {\fs24\insrsid13966643 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13966643 {\fs24\insrsid13966643 (b) In any securities issued or guaranteed by the Government of any country that is a member of the British Commonwealth of Nations; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13966643 {\fs24\insrsid13966643 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13966643 {\fs24\insrsid13966643 (c) With any other registered society approved for this purpose by the Registrar; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13966643 {\fs24\insrsid13966643 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13966643 {\fs24\insrsid13966643 (d) In any other manner approved by the Registrar.}{\fs24\insrsid13966643\charrsid13966643 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4010377 {\fs24\insrsid4010377\charrsid4010377 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13966643 {\i\fs24\insrsid13966643 Disposal of Profits}{\i\fs24\insrsid3551174 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13966643 {\fs24\insrsid13966643 \par }{\b\fs24\insrsid13966643\charrsid6511711 35. }{\fs24\insrsid13966643\charrsid6511711 (1) Where a registered society is entitled by its constitution to make a profit it shall carry to a reserve fund at least one-fourth of the net profits, if any, made during every year as ascertained by the audit prescribed by regulation 36 hereof. The remainder of those profits and any pr}{\fs24\insrsid8195441\charrsid6511711 ofits of past years available -}{\fs24\insrsid13966643\charrsid13966643 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13114406 {\fs24\insrsid3551174 \par }{\fs24\insrsid1261235 (2) Any registered society may, with the sanction of the Registrar}{\fs24\insrsid1596454 , after one-fourth of the net profits in any year have been carried to a reserve fund, contribute an amount not exceeding 10 per cent of the remaining net profits to any charitable purpose or to a fund established or maintained for the common good.}{\fs24\insrsid1261235 \par }{\fs24\insrsid1596454 \par (3) No society shall pay a dividend or bonus or distribute any part of its accumulated funds before the balance sheet has been certified by the Registrar and the amount of the dividend, bonus, or distribution, as the case may be, has been approved by the Registrar. \par \par }{\b\fs24\insrsid1596454 36.}{\fs24\insrsid1596454 (1) The Registrar shall audit, or cause to be audited by some person authorized by him by general or special order in writing, the accounts of every registered society once at least in every year. \par \par (2) The audit under subclause (1) of this regulation shall include an examination of overdue debts, if any, and a valuation of the assets and liabilities of the registered society. \par \par (3) The Registrar and every other person appointed to audit the accounts of a society shall have power when necessary- \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7107734 {\fs24\insrsid1596454 (a) To summon at the time of his audit any officer, agent, servant, or member of th e society who he has reason to believe can give material information in r}{\fs24\insrsid7107734 egard of any transaction of the society or the management of its affairs; or}{\fs24\insrsid1596454 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13114406 {\fs24\insrsid7107734 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7107734 {\fs24\insrsid7107734 (b) To require the production of any book or document relating to the affairs of, or any cash or securiti es belonging to, the society by the officer, agent, servant, or member in possession of that book, document, cash or securities. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13114406 {\fs24\insrsid7107734 \par (4) Every officer, agent, servant, or member of the society shall furnish such information in regard to the transactions of th e society and the management of its affairs and shall produce such articles as aforesaid as may be required under subclause (3) of this regulation by the Registrar or other person appointed to audit the accounts of the society. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7107734 {\i\fs24\insrsid7107734 Power of Registrar to Inspect Society's Books}{\fs24\insrsid7107734 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7107734 {\fs24\insrsid7107734 \par }{\b\fs24\insrsid7107734 37. }{\fs24\insrsid7107734 The Registrar, or any person authorized by general or special order in writing by the Registrar, shall at all times have access to all the books, accounts, papers, and securities of a registered society, an shall be entitled to insp ect the cash in hand, and every officer of the society shall furnish such information in regard to the transacti}{\fs24\insrsid10047105 on and working of the society as the person making the inspection may require.}{\fs24\insrsid7107734 \par }{\fs24\insrsid10047105 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10047105 {\i\fs24\insrsid10047105 Inquiry and Inspection \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11485054 {\fs24\insrsid11485054\charrsid11485054 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10047105 {\b\fs24\insrsid10047105 38. }{\fs24\insrsid10047105 (1)}{\fs24\insrsid11485054 The Registrar may of his own motion, and shall}{\fs24\insrsid9262298 on the application of a majority of the committee or of not less than one-third of the members of a registered society, hold an inquiry, or direct some person authorized by him by order in writing in this behalf to hold an inquiry, into the constitution, working, and financial condition of a registered society; and all officers and members of the society shall furnish such information in regard}{\fs24\insrsid14908829 to the affairs of the society and produce the cash in hand and such books, accounts, papers, and securities of the society as the Registrar or the person authorized by him may require.}{\fs24\insrsid10047105 \par }{\fs24\insrsid14908829 \par (2) The Registrar shall, on the application of a creditor of the registered society, inspect, or direct some person authorized by him in writing in this behalf to inspect the books of the society, if the applicant- \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14908829 {\fs24\insrsid14908829 (a) Proves that an ascertained sum of money is then due to him and that he has demanded payment thereof and has not received satisfaction within a reasonable time; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14908829 {\fs24\insrsid14908829 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14908829 {\fs24\insrsid14908829 (b) Deposits with the Registrar such sum as security for the costs of the proposed inspection as the Registrar may require. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13704407 {\fs24\insrsid13704407 \par (3) The Registrar shall communicate the results of any such inspection to the creditor and to the society into whose affairs inquiry has been made. \par }{\fs24\insrsid15540749 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15540749 {\i\fs24\insrsid15540749\charrsid15540749 Costs of Inquiry and Inspection \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13704407 {\fs24\insrsid15540749\charrsid15540749 \par }{\b\fs24\insrsid15540749 39. }{\fs24\insrsid15540749 (1) Where an inquiry is held under subclause (1) or an inspection is made under clause (2) of regulation 38 hereof, the Registrar may by certificate under his hand apportion the costs, or such part of the cost s as he thinks fit, between the registered society, the members demanding the inquiry, the officers or former officers of the }{\fs24\insrsid3621160 society, and the }{\fs24\insrsid14031870 creditor, as the case may be, on whose application the inquiry or inspection was made. \par \par }{\fs24\insrsid14031870\charrsid13068745 (2) The Registrar of Co-o perative Societies may, without any previous process, file in the High Court the certificate referred to in subclause (1) of this regulation, and the Registrar of the Court shall enter final judgment in that Court for the sums mentioned in the certificate to be paid by the persons specified therein, and thereupon execution may be forthwith issued and all other remedies had thereon in the same manner as any other decree of the High Court.}{\fs24\insrsid14031870 \par }{\fs24\insrsid13068745 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13068745 {\b\fs24\insrsid13068745\charrsid13068745 PART VII \endash WINDING UP}{\b\fs24\insrsid13068745 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13068745 {\fs24\insrsid13068745 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13068745 {\i\fs24\insrsid13068745\charrsid13068745 Winding Up After Inquiry or By Consent}{\fs24\insrsid13068745 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13068745 {\insrsid13068745\charrsid13068745 \par }{\fs24\insrsid13068745\charrsid13068745 40. (}{\fs24\insrsid13068745 1 ) If the Register, after holding an inquiry or making an inspection under regulation 38 hereof or on receipt of an application may be three-fourths of the members of a registered society, is of opinion that }{\fs24\insrsid15405306 the society ought to be wound up, he may make an order for the winding up of the society.}{\fs24\insrsid13068745 \par }{\fs24\insrsid15405306 \par (2) Any member of a registered society may, within two months from the date of an order under subclause (1) of this regulation, appeal from the order to the Resident Commissioner, and the decision of the Resident C ommissioner on any such appeal shall be final. \par \par (3) Where no appeal is presented within two months from the making of an order for the winding up of a society, the order shall take effect on the expiry of that period. Where an appeal is presented within tw o months, the order shall not take effect until it is confirmed. \par \par (4) Where the Registrar makes an order under subclause (1) of this regulation for the winding up of a society, he may make such further order as he thinks fit for the custody of the books an d documents and the protection of the assets of the society until the winding up order takes effect. \par \par (5) No registered society shall be wound up save by an order of the Registrar. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15405306 {\i\fs24\insrsid15405306 Winding up Due}{\i\fs24\insrsid14174621 to Lack of Membership or Failure to Carry on Operations, etc.}{\fs24\insrsid15405306 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14174621 {\fs24\insrsid14174621 \par }{\b\fs24\insrsid14174621 41.}{\fs24\insrsid14174621 (1) The Registrar may make an order for the winding up of any registered society if at any time it is proved to his satisfaction that- \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14174621 {\fs24\insrsid14174621 (a) The number of members has been reduced to less than ten or, in the case of a society of which at least one m ember is a registered society, to less than two; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14174621 {\fs24\insrsid14174621 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14174621 {\fs24\insrsid14174621 (b) The society is no longer carrying on it operations; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14174621 {\fs24\insrsid14174621 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14174621 {\fs24\insrsid14174621 (c) The society has been registered by reason of a mistake of fact or law. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14174621 {\fs24\insrsid14174621 \par (2) Every such order shall take effect from the date thereof. \par \par (3) At any time thereafter the Registrar, on being satisfied}{\fs24\insrsid11151291 that the winding up order was made in error and ought to be revoked, may revoke the order by notice publicly notified, and shall thereupon }{\fs24\insrsid13121631 make in entry of the revocation in the Register.}{\fs24\insrsid14174621 \par }{\fs24\insrsid13121631 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\i\fs24\insrsid13121631 Appointment of Liquidator}{\fs24\insrsid13121631 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid13121631 \par }{\b\fs24\insrsid13121631 42. }{\fs24\insrsid13121631 Where the Registrar makes a winding up order under regulation 40 or regulation 41 hereof, he may appoint one or more persons to be liquidator or liquidators of the society, subject to his direction and control. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\i\fs24\insrsid13121631 Liquidator's Powers \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid13121631 \par }{\b\fs24\insrsid13121631 43. }{\fs24\insrsid13121631 (1) A liquidator appointed under regulation 42 hereof shall, subject to the guidance and control of the Registrar and to any limitations imposed by the Registrar by order }{\fs24\insrsid4405389 under regulation 44 hereof, have power to-}{\fs24\insrsid13121631 \par }{\fs24\insrsid4405389 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid4405389 (a) Determine from time to time th e contribution to be made to its assets by members and past members or by the estates of deceased members of the society}{\fs24\insrsid860710 ;}{\fs24\insrsid4405389 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid860710 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid860710 (b) Appoint by notice a day before which creditors whose claims are not already recorded in the books of the society shall state thei r claims for admission or be excluded from any distribution made before they have proved them; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid860710 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid860710 (c) Decide any question of priority which arises between creditors; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid860710 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid860710 (d) Refer disputes to arbi}{\fs24\insrsid2125662 tration or institute and defend suits and other legal proce edings on behalf of the society by his name or office;}{\fs24\insrsid860710 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid2125662 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid2125662 (e) Decide any question of priority which arises between }{\fs24\insrsid13784579 creditors}{\fs24\insrsid2125662 ; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid2125662 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid2125662 (f) Give such directions in regard to the collection and distribution of assets as may be necessary in the course of winding up the society; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid2125662 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid2125662 (g) Compromise any claim by or against the society provided the sanction of the Registrar has first been obtained; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid2125662 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid2125662 (h) Call such general meetings of members as may be necessary for the proper conduct of the liquidation; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid2125662 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid2125662 (i) Take possession of the books, documents, and assets of the society; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid2125662 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid2125662 (j) }{\fs24\insrsid15887881 Sell the property of the society;}{\fs24\insrsid2125662 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid15887881 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid15887881 (k) Carry on the business of the society as far as may be necessary for winding it up beneficially; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid15887881 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15887881 {\fs24\insrsid15887881 (l) Arrange for the distribution of the assets of the security in a convenient manner when a scheme of distribution has been approved by the Registrar. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid2125662 \par }{\fs24\insrsid5967408 (2) Subject to such rules as may be made in this behalf, any liquidator appointed under theses regulations shall, in so far such powers are necessary for carrying out the purposes of this regulation, have power to summon or enforce the attendance of parties and witnesses and to compel the production of documents by the same means and as far as may be in the same manner as is provided in the case of the Hi gh Court of the Cook Islands.}{\fs24\insrsid2125662 \par }{\fs24\insrsid5967408 \par }{\b\fs24\insrsid5967408\charrsid9598356 44. }{\fs24\insrsid5967408\charrsid9598356 A liquidator shall exercise his powers subject to the control and revision of the Registrar, who may-}{\fs24\insrsid5967408 \par }{\fs24\insrsid9598356 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid9598356 (a) Rescind or vary any order made by a liquidator and make whatever new order is required; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid9598356 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid9598356 (b) Remove a liquidator from office; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid9598356 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid9598356 (c) Call for all books, documents, and assets of the society; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid16451979 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid16451979 (d) By order in writing limit the powers of a liquidator under regulation 43 hereof; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid16451979 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid16451979 (e) Require accounts to be rendered to him by the liquidator; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid16451979 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid16451979 (f) Procure the auditing of the liquidator's accounts and authorize the distribution of the assets of the society; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid16451979 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid16451979 (g) Make an order for the remuneration of the liquidator; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13121631 {\fs24\insrsid16451979 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16451979 {\fs24\insrsid16451979 (h) Refer any subject of dispute between a liquidator and any third party to arbi tration if that party consents in writing to be bound by the decision of the arbitrator. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16451979 {\fs24\insrsid16451979 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16451979 {\i\fs24\insrsid16451979 Enforcement Order}{\fs24\insrsid16451979 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16451979 {\fs24\insrsid16451979 \par }{\b\fs24\insrsid16451979 45.}{\fs24\insrsid16451979 (1) Subject to the provisions of regulation 51 hereof, and decision of an arbitrator on any matter referred to him under regulation 44 hereof s hall be binding on all parties, and shall be enforceable in the manner }{\fs24\insrsid3764371 provided in subclause (2) of this regulation.}{\fs24\insrsid16451979 \par }{\fs24\insrsid3764371 \par (2) An order made by a liquidator or by the Registrar under regulation 43 or regulation 44 hereof may be enforced by the High Court of the Cook Islands in like manner as a decree of that Court. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3764371 {\i\fs24\insrsid3764371 Appeal }{\i\fs24\insrsid13173010 against}{\i\fs24\insrsid3764371 Order Of Liquidator or Registrar}{\fs24\insrsid3764371 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid3764371 {\b\fs24\insrsid13254669 \par }{\b\fs24\insrsid13254669\charrsid12479296 46. }{\fs24\insrsid13254669\charrsid12479296 An appeal against any decision made by a liquidator under regulation 43 hereof, or against any decision made by the Registrar under the provisions of paragraph }{ \i\fs24\insrsid13254669\charrsid12479296 (a)}{\fs24\insrsid13254669\charrsid12479296 of regulation 44 hereof,}{\fs24\insrsid11546009\charrsid12479296 }{\fs24\insrsid12479296 may, with the written consent of the Resident Commissioner, be made to the High Court of the Cook Islands in the manner and time prescribed in that written consent.}{\fs24\insrsid3764371 \par }{\fs24\insrsid7109467 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7109467 {\i\fs24\insrsid7109467 Completion of Liquidation and Dissolution of Society}{\fs24\insrsid7109467 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7109467 {\fs24\insrsid7109467 \par }{\b\fs24\insrsid7109467 47. }{\fs24\insrsid7109467 (1) In the liquidation of a society whose registration has been cancelled the funds, including the reserve fund, shall be applied first to the costs of liquidation, then to the discharge of the liab ilities of the society (which shall abate ratably if the funds are insufficient), then to the payment of the share capital, and then , provided the by-laws of the society permit, to the payment of a dividend at a rate not exceeding 10 per cent per annum f or any period for which no disposal of profits was made. \par \par (2) When the liquidation of a society has been completed, notice of the completion of the liquidation s hall be publicly notified by the Registrar in such manner as he thinks proper; and as from the date of that notification the society shall be deemed to be dissolved and shall cease to be a body corporate. \par \par (3) Any surplus remaining after the completion of the liquidation shall be available for use by the Registrar for any co-operative purpose at his discretion. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12015486 {\b\fs24\insrsid7109467 PART VIII}{\b\fs24\insrsid12015486 \endash SURCHARGE OF OFFICERS}{\fs24\insrsid7109467 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12015486 {\fs24\insrsid12015486 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12015486 {\i\fs24\insrsid12015486 Power of Register to Surcharge Officers of a Registered Society}{\fs24\insrsid12015486 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12015486 {\fs24\insrsid12015486 \par }{\b\fs24\insrsid12015486 48. }{\fs24\insrsid12015486 (1) Where in the course of the winding up of a registered society it appears that any person who has taken part in the organization or management of the society or any past or present }{ \fs24\insrsid12280464 officer}{\fs24\insrsid12015486 of the society has misapplied or retained or become liable or accountable for any money or property of the society or has been guilty of misfeasance or bre}{\fs24\insrsid12280464 ach of trust in relation to the}{\fs24\insrsid12015486 society, the Registrar may, on the application of the liquidator or of any creditor or contributory, examine the conduct of the first-mentioned}{\fs24\insrsid3305977 person and, notwithstanding that the act is one for which the offender may be criminally responsible and whether or not he has been charged with an offence in respect of the matter, make an order }{\fs24\insrsid12280464 requiring him to repay or restore the money or property or any part thereof with interest at such rate as the Registrar thinks just or to contribute such sum to the assets of the society by way of compensation in regard to the misapplication, retainer, dishonesty, or breach of trust as the Registrar thinks just.}{\fs24\insrsid12015486 \par }{\fs24\insrsid12280464 \par (2) Subject to the provision of regulation 49 hereof, every person against whom any order ins made under subclause (1) of this regulation shall final and conclusive. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12280464 {\b\fs24\insrsid12280464 PART IX \endash DISPUTES}{\fs24\insrsid12280464 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12280464 {\fs24\insrsid12280464 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12280464 {\i\fs24\insrsid12280464 Settlement of Disputes}{\fs24\insrsid12280464 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12280464 {\fs24\insrsid12280464 \par }{\b\fs24\insrsid12280464 50.}{\fs24\insrsid12280464 (1) If any dispute touching the business of a registered society arises \endash \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16462534 {\fs24\insrsid12280464 (}{\fs24\insrsid9792854 a) Among members, past members and deceased members; or}{\fs24\insrsid12280464 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16462534 {\fs24\insrsid9792854 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16462534 {\fs24\insrsid9792854 (b) Between a member, past member, or person claiming through a member, past member, or deceased member, and the society, its committee, or any officer of the society; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16462534 {\fs24\insrsid9792854 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16462534 {\fs24\insrsid9792854 (c) Between the }{\fs24\insrsid7561800 society or its committee and any officer of the society; or}{\fs24\insrsid9792854 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16462534 {\fs24\insrsid7561800 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16462534 {\fs24\insrsid7561800 (d) Between the society and any other registered society}{\fs24\insrsid16462534 ,}{\fs24\insrsid7561800 - \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16462534 {\fs24\insrsid16462534 \par and dispute shall be referred to the Registrar for decision. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12280464 {\fs24\insrsid16462534 \par (2) A claim by a registered society for any debt or demand due to it from a member or past member or the nominee, heir, or legal representative of a deceased member shall be deemed to be a dispute touching the business of the society within the meaning of this regulation. \par \par (3) The Registrar may, on receipt of a reference under subclause (1) of this regulation,- \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16462534 {\fs24\insrsid16462534 (a) Decide the dispute himself; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16462534 {\fs24\insrsid16462534 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16462534 {\fs24\insrsid16462534 (b) Refer it for disposal to an arbitrator or arbitrators. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12280464 {\fs24\insrsid16462534 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6322187 {\i\fs24\insrsid6322187 Appeal}{\fs24\insrsid16462534 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6322187 {\fs24\insrsid6322187\charrsid6322187 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12280464 {\b\fs24\insrsid6322187 51. }{\fs24\insrsid6322187 (1) Any party aggrieved by an award ma de under regulation 45 or regulation 50 hereof by the Registrar or by an arbitrator or arbitrators appointed by him may appeal there from in the manner and time prescribed by the rules to the High Court of the Cook Islands.}{\fs24\insrsid7561800 \par }{\fs24\insrsid6322187 \par (2) On an appeal under the prov ision of subclause (1) of this regulation the Court may dismiss the appeal or vary the award of the Registrar or arbitrator or arbitrators to make such other order as may appear just and proper, and shall make such order as to the costs of the arbitration and the appeal as it thinks fit, and the decision of the Court shall be final.}{\fs24\insrsid6322187\charrsid6322187 \par }{\fs24\insrsid7561800\charrsid12280464 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9439211 {\b\fs24\insrsid13063510 PART X }{\b\fs24\insrsid9439211 \endash }{\b\fs24\insrsid13063510 }{\b\fs24\insrsid9439211 RULES}{\fs24\insrsid11546009 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9439211 {\fs24\insrsid9439211 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9439211 {\i\fs24\insrsid9439211 Rules}{\fs24\insrsid9439211 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9439211 {\fs24\insrsid9439211 \par }{\b\fs24\insrsid9439211 52. }{\fs24\insrsid9439211 (1) Subject to the provision of these regulations, the Resident Commissioner may make all such rules as he considers necessary for the purpose of car rying out or giving effect to the principles and provisions of these regulations. \par \par (2) In particular and without prejudice to the generality of the power conferred by subclause (1) of this regulation, the rules may- \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid9439211 (a) Prescribe the forms to be used, the fees to be paid, the conditions to be complied with in applying for the registration }{ \fs24\insrsid1399817 of a society, and the procedure in the matter of those applications;}{\fs24\insrsid9439211 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid1399817 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid1399817 (b) Prescribe the extent to which a registered society may limit the number of its member; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid1399817 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid1399817 (c) Provide for the appointment, suspension, and removal of the members of the committee, and for the procedure at meetings of the committee, and for the powers to be exercised and the duties to be performed by the committee; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid1399817 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid1399817 (d) Regulate the manner in which funds may be exercised and the duties to be performed by the committee; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid1399817 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid1399817 (e) Prescribe the conditions to be observed by a registered society applying for financial assistance from the Government; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid1399817 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid1399817 (f) P}{\fs24\insrsid14748024 rescribe the paymen ts to be made, the conditions to be complied with, and the forms of the bonds, instruments, or other documents to be executed, by members applying for loans or cash credits, the period for which loans any be made or credits granted, and the maximum amount which may be lent and the maximum credit which may be allowed to individual members with or without the consent of the Registrar;}{\fs24\insrsid1399817 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid14748024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid10882981 (g) Provide for the mode in which the value of a deceased member's interest shall be ascertained and for the nomination of a person to whom any such interest may be paid or transferred;}{\fs24\insrsid14748024 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid10882981 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid10882981 (h) Provide for the mode in which the a value of the mind and incapable of managing himself or his affairs shall be ascertained and for the nomination of any person to whom any such interest may be paid or transferred; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid10882981 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid10882981 (i) Provide for the }{\fs24\insrsid8680744 formation and the maintenance of reserve funds, and the objects to which those funds may be applied, and the objects to which those funds may be applied, and for the investment of any funds under the control of any registered society;}{ \fs24\insrsid10882981 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid8680744 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid8680744 (j) Prescribe the maximum rate of dividend which may be paid by societies; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid8680744 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid8680744 (k) Prescribe the accounts and books to be kept by a registered society, and for the periodical publication of a balance sheet showing the assets and liabilities of a registered }{\fs24\insrsid9056041 of a registered society;}{\fs24\insrsid8680744 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid9056041 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid9056041 (l) Provide for the audit of the accounts of registered societies and for the charges, if any, to be made for that audit}{\fs24\insrsid15277424 , and provide for the levy of contributions from all or any registered societies to a fund to be used for the audit and supervision of existing societies and co-operative propaganda, and prescribe for the administration of any such fund;}{ \fs24\insrsid9056041 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid15277424 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid15277424 (m) Pres}{\fs24\insrsid14639673 cribe the returns to be submitted by registered societies to the Registrar and the persons by whom and the form in which the returns are to be made;}{\fs24\insrsid15277424 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid14639673 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid14639673 (o) Provide for the formation and maintenance of a register of members, and, where the liability of members is limited by shares, of a register of shares; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid14639673 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid14639673 (p) Prescribe the mode of }{\fs24\insrsid13784579 appointing an}{\fs24\insrsid13173010 arbitration}{\fs24\insrsid14639673 or arbitrators and the procedure}{\fs24\insrsid14843458 to be followed in proceedings before the Registrar or the arbitrator or arbitrators;}{\fs24\insrsid14639673 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid14843458 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid14843458 (q) Prescribe the procedure to be followed by a liquidator appointed under regulation 42 hereof; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid14843458 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13851835 {\fs24\insrsid14843458 (r) Prescribe the forms of to be used, the fees to be paid, the procedure to be observe d, and all other matters connected with or incidental to the presentation, hearing, and disposal of appeals under these regulations}{\fs24\insrsid13851835 .}{\fs24\insrsid14843458 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid13851835 \par (3) The Resident Commissioner shall publicly notify in such manner as he thinks fit rules made by him under this regulation. \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\b\fs24\insrsid13851835 PART XI \endash MISCELLANEOUS}{\fs24\insrsid13851835 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid13851835 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\i\fs24\insrsid13851835 Recovery of Sums due to Crown}{\fs24\insrsid13851835 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13851835 {\fs24\insrsid13851835 \par }{\b\fs24\insrsid13851835 53. }{\fs24\insrsid13851835 (1) All sums due to the Crown from a registered society or from an officer or member or past member of a registered society as such may be recovered in the manner provided for the recovery of debts due to the Crown under the law for the time being in force. \par \par (2) Sums due from a registered society to the Crown and recoverable under subclause (1) of this regulation may be recovered first from the property of the society, and secondly on the windi ng up of the society from the members subject to the limit of their liability}{\fs24\insrsid4002635 .}{\fs24\insrsid13851835 \par }{\fs24\insrsid4002635 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4002635 {\i\fs24\insrsid4002635 Power to Exempt from Stamp Duty and Regulations Fees}{\fs24\insrsid4002635 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4002635 {\fs24\insrsid4002635 \par }{\b\fs24\insrsid4002635 54. }{\fs24\insrsid4002635 The Minister of Island Territories may, by notice in writing under his hand, in the case of any registered society or class of societies remit- \par \par {\listtext\pard\plain\i\insrsid4002635 \hich\af0\dbch\af0\loch\f0 (a)\tab}}\pard \ql \fi-360\li720\ri0\widctlpar\jclisttab\tx720\faauto\ls1\adjustright\rin0\lin720\itap0\pararsid16198969 {\fs24\insrsid4002635 The stamp duty }{\fs24\insrsid16198969 with which, under any law for the time being in force, instruments executed by or on behalf of a registered society, or by an officer or member, and relating to the business of the society or any class of those instruments are respectively chargeable; or} {\fs24\insrsid4002635 \par }\pard \ql \li360\ri0\widctlpar\faauto\adjustright\rin0\lin360\itap0\pararsid1337473 {\fs24\insrsid1337473 \par {\listtext\pard\plain\i\insrsid16198969 \hich\af0\dbch\af0\loch\f0 (b)\tab}}\pard \ql \fi-360\li720\ri0\widctlpar\jclisttab\tx720\faauto\ls1\adjustright\rin0\lin720\itap0\pararsid16198969 {\fs24\insrsid16198969 Any fee payable for registration for the time being in force. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16198969 {\fs24\insrsid16198969 \par \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid16198969 {\i\fs24\insrsid16198969\charrsid12402360 Prohibition of the Use of the Word "Co-operative"}{\i\fs24\insrsid16198969 \par }{\i\fs24\insrsid12402360 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12402360 {\b\fs24\insrsid12402360\charrsid12402360 55.}{\b\fs24\insrsid12402360 }{\fs24\insrsid12402360 (1) No person other than a registered society shall trade or carry on business under any name or title of which the word "Co-operative" or its vernacular equivalent is part without the consent of the Resident Commissioner: \par \par Provided that nothing in this regulation shall apply with respect to the continued use by any person or his successor in interest of any name or title under which he traded or carried on business at the commencement of these regulations. \par }{\fs24\insrsid1337473 \par }{\fs24\insrsid12402360 (2) Any person who commits a breach of this regulation is guilty of an offence, and is}{\fs24\insrsid13523066 liable to a fine not exceeding }{\fs24\insrsid412260 \'a3 5, and in case of a continuing offence to a further fine not exceeding \'a31 for each day during which the offence continues.}{\fs24\insrsid12402360 \par }{\fs24\insrsid412260 \par }{\i\fs24\insrsid412260\charrsid412260 Cook Islands Native Companies Regulations 1923 Not to Apply to Registered Societies}{\i\fs24\insrsid412260 \par \par }{\b\fs24\insrsid412260\charrsid412260 56.}{\b\fs24\insrsid412260 }{\fs24\insrsid412260 Nothing in this Cook Islands Native Companies Regulations 1923# shall apply with respect to any registered society, and a registered society shall be deemed not to be a company for the purposes of those regulations. \par \par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid412260 {\i\fs24\insrsid412260\charrsid412260 Offences}{\i\fs24\insrsid412260 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid412260 {\i\fs24\insrsid412260 \par }{\b\fs24\insrsid412260\charrsid412260 57.}{\fs24\insrsid412260 Every person is guilty of an offence, and is liable to a fine not exceeding \'a350, who- \par \par {\listtext\pard\plain\insrsid412260 \hich\af0\dbch\af0\loch\f0 (a)\tab}}\pard \ql \fi-360\li720\ri0\widctlpar\jclisttab\tx720\faauto\ls2\adjustright\rin0\lin720\itap0\pararsid7960450 {\fs24\insrsid412260 Being a registered}{\fs24\insrsid7960450 society or an officer or member of a society willfully neglects or refuses to do any act or to furnish any information required by or for the pu rposes of these regulations by the Registrar or by any person authorized by the Registrar in writing in that behalf; or}{\fs24\insrsid412260 \par }\pard \ql \li360\ri0\widctlpar\faauto\adjustright\rin0\lin360\itap0\pararsid7960450 {\fs24\insrsid7960450 \par {\listtext\pard\plain\insrsid7960450 \hich\af0\dbch\af0\loch\f0 (b)\tab}}\pard \ql \fi-360\li720\ri0\widctlpar\jclisttab\tx720\faauto\ls2\adjustright\rin0\lin720\itap0\pararsid7960450 {\fs24\insrsid7960450 Being a registered society or an officer or member of a society, when required to make a return or supply any information for the purposes of these regulations willfully makes a false return or supplies false information; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7960450 {\fs24\insrsid7960450 \par {\listtext\pard\plain\insrsid7960450 \hich\af0\dbch\af0\loch\f0 (c)\tab}}\pard \ql \fi-360\li720\ri0\widctlpar\jclisttab\tx720\faauto\ls2\adjustright\rin0\lin720\itap0\pararsid7960450 {\fs24\insrsid7960450 Willfully or without reaso nable cause disobeys any summons requisition, or lawful written order issued under the provisions of these regulations. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7960450 {\fs24\insrsid7960450 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid7960450 {\i\fs24\insrsid7960450\charrsid7960450 Penalty for Soliciting Violation of Contract}{\i\fs24\insrsid7960450 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7960450 {\i\fs24\insrsid7960450 \par }{\b\fs24\insrsid7960450\charrsid7960450 58.}{\b\fs24\insrsid7960450 }{\fs24\insrsid7960450 Any person who, having knowledge or notice of the existence of a contract described in regulation 14 hereof, solicits or persuades any person to sell or deliver any article}{\fs24\insrsid8202597 violation of that contract is guilty of an offence and is liable to a fine not exceeding \'a3 25, and shall in addition be ordered to pay to the society concerned such damage as to the Court may seem fit. \par \par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid8202597 {\b\fs24\insrsid13173010 \par }\pard \ql \li9360\ri0\widctlpar\faauto\adjustright\rin0\lin9360\itap0\pararsid13173010 {\b\fs24\insrsid13173010\charrsid8202597 T.J. SHERRARD \par }\pard \ql \li8640\ri0\widctlpar\faauto\adjustright\rin0\lin8640\itap0\pararsid13173010 {\b\fs24\insrsid13173010\charrsid8202597 Clerk of the Executive Council \par }\pard \ql \li7200\ri0\widctlpar\faauto\adjustright\rin0\lin7200\itap0\pararsid13173010 {\b\i\fs24\insrsid13173010\charrsid8202597 Gazette}{\b\fs24\insrsid13173010\charrsid8202597 , 13 September 1923, Vol. 111, page 2400}{\b\fs24\insrsid13173010 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13173010 {\b\i\fs24\insrsid13173010 \par }{\fs24\insrsid13173010 \par }\pard \ql \li2880\ri0\widctlpar\faauto\adjustright\rin0\lin2880\itap0\pararsid13173010 {\b\fs24\insrsid8202597\charrsid8202597 EXPLANATORY NOTE}{\b\fs24\insrsid8202597 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12867613 {\i\fs24\insrsid12867613\charrsid12867613 (This note is not part of the regulations, but is intended to indicate their general effect.)}{\i\fs24\insrsid12867613 \par \par }{\fs24\insrsid12867613 These regulations provide for the registration}{\fs24\insrsid14943776 or co-operative societies in the Cook Islands, and define their functions, powers, and procedure.}{\fs24\insrsid12867613 \par }{\fs24\insrsid14943776 \par Part II (regulation 4 to 10) provides for the registration of societies having for their objects the promotion of the economic interests of their members in accordance with co-operative principles, or societies established with the object of facilitating t he operations of societies of that nature. Societies so registered will have limited liability. Each society must have at least ten members, unless at least one of its members is another registered society, in which case two members is the minimum. This P art prescribes the method of applying for registration, and regulation 9 provides that each registered society is to be a body corporate. \par }{\fs24\insrsid7749641 \par Part III (regulations 11 to 21) prescribes the duties and privileges of registered societies. Regulation 14 provides that a society which includes among its objects the disposal of articles produced or obtained by the work or industry of its members}{ \fs24\insrsid15293941 may provide in its by-laws or may otherwise contract with its member that every member who produces any such article must di spose of the whole or any specified amount, proportion, or description thereof to or through the society and shall pay to the society damages in respect of any breach of this requirement of this requirement. No contract entered into under this regulation is to be invalid on the ground only that it constitutes a contract in restraint of trade. Regulation}{\fs24\insrsid4349634 15 gives the society a first charge on all crops, & c, for debts due by members to the society, subject to prior claims of the crown, to the claims of lien holders or the claim of the landlord in respect of rent, and in the case of immovable property, to any prior registered charge. Under regulation 16 a society is entitled to a charge on the interest of its members in respect of debts due to the society fro m those members. Under regulation 17 the shares or interests of members cannot be attached.}{\fs24\insrsid485753 \par }{\fs24\insrsid4349634 \par Part IV (regulation 22 to 30) defines the rights and liabilities of members. Under regulation 22 the only persons qualified for membership of a society must have attained the age of eighteen years and be resident}{\fs24\insrsid12735550 or a title holder by Cook Islands custom wi thin the society's area of operations. This Part contains provisions preventing prohibiting defaulting members from exercising rights, prohibiting a person from being a member of more than one registered society whose primary objective is to grant loans t o its members, and providing for the method of voting and for proxies and for contracts with the society by members who are minors. Regulation 28 provides no individual may hold more than one-fifth of the share capital of any society.}{ \fs24\insrsid4349634 \par }{\fs24\insrsid12735550 \par Part V (regulation 31 to 35) contains provisions with respect to loans by societies, the investment of societies' funds and the disposal of their profits. \par \par Part VI (regulation 36 to 39}{\fs24\insrsid9248008 ) provides for the audit of societies' accounts, for inspection of their books, accounts, papers, and securities, and for inquiries into their constitutions, working, and financial condition.}{ \fs24\insrsid12735550 \par }{\fs24\insrsid9248008 \par Part VII (regulations 40 to 47) specifies the procedure for winding up of registered societies, the appointment and powers of liquidators, and the distribution of their surplus assets. \par \par Part VIII (regulations 48 and 49) enables the Registrar of Co-operative Societies to surcharge officers who have }{\fs24\insrsid13379690 misapplied}{\fs24\insrsid9248008 or retained or become liable for money or property of the society or been }{ \fs24\insrsid13379690 guilty}{\fs24\insrsid9248008 of misfeasance or breach of trust in relation to the society}{\fs24\insrsid10378728 . There is a right of appeal under regulation 49 to the }{\fs24\insrsid13379690 Resident}{\fs24\insrsid10378728 Commissioner.}{\fs24\insrsid9248008 \par }{\fs24\insrsid10378728 \par }{\fs24\insrsid13379690 Part IX (regulation 50 to 51) provides for the settlement of disputes concerning the bsiness of registered societitis, and confers}{\fs24\insrsid10378728 rights of appeal to the Resident }{\fs24\insrsid13379690 Commissioner}{ \fs24\insrsid10378728 , \par \par Part X (regulation 52) authorizes the Resident Commissioner to make rules for the purpose of carrying out the p}{\fs24\insrsid16727236 rovisions of the regulations. Regulation 52 (2) specifies}{\fs24\insrsid13379690 the matters in respect of which rules may be made.}{\fs24\insrsid9248008 \par }{\fs24\insrsid13379690 \par Part XI (regulations 53 to 58) contains miscellaneous provisions. A regulation 55 prohibits the use of words "co-operative" in connection with any trade or business not carried on by a registered society. Regulation 58 makes it an offence for any pe rson to solicit or persuade any other person to sell or deliver ant article in violation of a contract with a registered society. \par \par \par Issued under the authority of the Regulations Act, 1936. \par Date of notification in Gazette: 20}{\fs24\super\insrsid13379690\charrsid13379690 th}{\fs24\insrsid13379690 August 1953. \par These regulations are administered in the Department of Island Territories. \par }{\fs24\insrsid9248008 \par }{\fs24\insrsid485753 \par \par \par \par \par \par \par \par \par \par \par \par \par \par }{\fs24\insrsid5663510 }{\fs24\insrsid7749641\charrsid12867613 \par }}