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{\author sam_f}{\operator freriks_k}{\creatim\yr2009\mo3\dy26\hr14\min17}{\revtim\yr2009\mo4\dy16\hr11\min4}{\version9}{\edmins37}{\nofpages15}{\nofwords3482}{\nofchars19848}{\*\company USP}{\nofcharsws23284}{\vern24689}}\paperw11906\paperh16838 
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{\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl7
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\s15\qc \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid14885131 \f35\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\f0\insrsid14885131\charrsid3306233 NIUE LAWS 
\par LEGISLATION AS AT DECEMBER 2006}{\f0\insrsid14885131\charrsid3306233 
\par }\pard\plain \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid14885131 \f35\fs24\lang2057\langfe1033\cgrid\langnp2057\langfenp1033 {\b\f0\insrsid14885131\charrsid3306233 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11094353\charrsid11828553 PUBLIC SERVICE SAVINGS AND LOAN SOCIETY ACT 1980}{\b\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11828553\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 1980/55 \endash  23 June 1980}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 1 Short title
\par 2 Interpretation}{\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11094353\charrsid11828553 PART 1
\par SOCIETY ESTABLISHED
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 3 Public Service Savings and Loan Society}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 established
\par 4 Functions of Society
\par 5 Powers of Society
\par 6 Constitution and Rules
\par 7 Registration with Registrar
\par 8 Meetings of Society}{\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11094353\charrsid11828553 PART 2
\par MANAGEMENT OF SOCIETY
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 9 Management of Society
\par 10 Functions of Management Committee
\par 11 Management Committee meetings
\par 12 Procedure
\par 13 Officers of Society}{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11094353\charrsid11828553 PART 3
\par FINANCIAL PROVISIONS
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 14 Accounts and audit
\par 15 Remuneration Fund
\par 16 Deposits
\par 17 Withdrawals
\par 18 Deposits banked
\par 19 Proportionate sum retained
\par 20 Investment in Government securities
\par 21 Loans}{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11094353\charrsid11828553 PART 4
\par MISCELLANEOUS PROVISIONS
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 22 Sealing of deeds
\par 23 Investigation of Society
\par 24 Suspension or dissolution
\par 25 [Repealed]}{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 SCHEDULES}{\f0\insrsid11094353 
\par }{\f0\insrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 ____________________
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11094353\charrsid11828553 To make provision for the establishment of the Public Service Savings and}{\b\f0\insrsid11828553  }{\b\f0\insrsid11094353\charrsid11828553 
Loan Society}{\b\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11828553\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 1 Short title}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 This is the Public Service Savings and Loan Society Act 1980.}{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 2 Interpretation}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 In this Act \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 Constitution}{\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 
 means the Constitution of the Public Service Savings and}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 Loan Society contained in Schedule 1;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 Management Committee}{\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 
 means the Management Committee established}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 under section 9;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 Officer}{\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 
 includes the Chairman or his Deputy or Secretary or Treasurer of}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 the Society;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 Registrar}{\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553  means the Registrar of Incorporated Societies;

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 Rules}{\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 
 means the rules of the Management Committee of the Public Service}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 Savings and Loan Society contained in Schedule 2;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 Society}{\f0\insrsid11828553 "}{\f0\insrsid11094353\charrsid11828553 
 means the Public Service Savings and Loan Society established}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 under section 3.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11094353\charrsid11828553 PART 1
\par SOCIETY ESTABLISHED
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 3 Public Service Savings and Loan Society established}{\b\f0\insrsid11828553 
\par 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The Niue Public Service Savings and Loan Society is hereby established}{\b\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 and it shall be a body corporate.}{\b\f0\insrsid11094353\charrsid11828553 

\par }{\f0\insrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (2) The Society shall have perpetual succession and a common seal and}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 shall be capable of suing and being sued and of doing all such things as bodies}{
\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 corporate may lawfully do.}{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 4 Functions of Society}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The principal functions of the Society shall be \endash 
\par }{\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (a) To encourage thrift among the Society members;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (b) To educate members in financial responsibility;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (c) To receive the savings of members as contribution for shares or on}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 deposit;

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (d) To make loans to members for the purposes specified in the}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 Constitution; and

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (e) To distribute profits under co-operative principles.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 5 Powers of Society}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Society shall have full powers \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (a) To establish, operate, manage or maintain such projects, schemes,}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
or arrangements for the benefits of its members as it may think fit;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (b) To acquire, by purchase or otherwise both real and personal}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
property of whatsoever kind or nature or wheresoever situate;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (c) To invest moneys on deposit in any bank, or in any bonds, or on}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
mortgage of any land or buildings, in or outside Niue, or in or on}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 debentures, debenture-stocks, stocks, funds, shares or securities of}{\f0\insrsid11828553  }{
\f0\insrsid11094353\charrsid11828553 any corporation or company carrying on business in or outside}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 Niue;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (d) To grant, sell, convey, surrender, yield up, mortgage, demise, let,}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
reassign, transfer or otherwise dispose of any land, or buildings,}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 mortgages, debentures, debenture-stocks, funds, securities, vessels,}{\f0\insrsid11828553  }{
\f0\insrsid11094353\charrsid11828553 goods and chattels for the time being vested in the Society, upon}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 such terms as the Society may deem fit;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (e) To erect any buildings or like construction and effect any}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
improvement to them;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (f) To borrow or lend money upon such terms as the Society shall think}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
fit, and to raise money by private subscriptions; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (g) Generally to do such other things as may appear to be incidental or}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
conducive to the functions of the Society.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 6 Constitution and Rules}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11828553 (1)
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (a) The Constitution of the Society may be amended or changed at any}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
time by Cabinet acting upon a resolution passed by two thirds of}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 the members present and voting at a general meeting of the Society.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (b) The members present shall not be less than 60.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (2) The Rules may be amended or changed at any time by a resolution}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 passed at a general meeting of the Society and such amendments or changes shall}{
\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 be filed with the Registrar under section 7(1}{\f0\insrsid11209868\charrsid11828553 ) (}{\f0\insrsid11094353\charrsid11828553 b).
\par }{\b\f0\insrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 7 Registration with Registrar}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The Society shall forward to the Registrar for registration the following \endash 
\par }{\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (a) Notice of the address of the registered office of the Society and any}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
change to it;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (b) A copy of any amendment to the Rules and certified as correct by}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
at least 2 officers of the Society;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (c) A list of the names and addresses of the members of the Society,}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
and any change in it, certified as correct by an officer or officers of}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 the Society;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (d) The name and address of any person or persons appointed under}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
section 9 to sign deeds, documents and other instruments;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (e) A report concerning its projects, schemes and arrangements during}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
the year after the end of each financial year;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (f) A statement of its accounts after the end of each financial year; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (g) A copy of the report of the auditors.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (2) Notification under subsection (1) shall be as soon as conveniently}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 possible or within such period as the Registrar may reasonably require.
\par }{\f0\insrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (3) Any person or member may inspect any of the documents registered}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 under this section.
\par }{\f0\insrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (4) A fee of $2 shall be payable for registering any document under this}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 section.
\par }{\f0\insrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (5) A fee of 50 cents shall be payable for the inspection of documents filed}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 with the Registrar under this Act.}{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 8 Meetings of Society}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) There shall be held each year not later than 3 months after the financial}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
year a general meeting of the Society to be known as the Annual General Meeting.
\par }{\f0\insrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The order of business shall include \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid11828553\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (a) Minutes of the last Annual General Meeting and any general}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
meeting held since that meeting;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (b) Report of the Management Committee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (c) Determination of the rate of interest on share capital;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (d) Consideration of notices of motion;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (e) Election of Management Committee; and}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11828553 {\f0\insrsid11094353\charrsid11828553 (f) Determinations of the rate of remuneration for the officers of the}{\f0\insrsid11828553  }{\f0\insrsid11094353\charrsid11828553 
Management Committee and the auditor.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11828553\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (2) In considering subsection (1}{\f0\insrsid11209868\charrsid11828553 ) (}{\f0\insrsid11094353\charrsid11828553 c) the Annual General Meeting shall have}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
before it a recommendation from the Management Committee. Before the rate of}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 interest can be approved in variance to that recommended by the Management}{\f0\insrsid5710293  }{
\f0\insrsid11094353\charrsid11828553 Committee a Special Meeting held shall also approve the interest rate so varied.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (3) The Society shall at the request of the Management Committee or at}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 the written request of at least 10 members call a Special Meeting of the Society.}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Any request so made shall state the object of the proposed meeting.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (4) At least 14 days notice of any Annual or Special Meeting shall be given}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 by individual notice in writing to members and public notice.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (5) Thirty members of the Society shall constitute a quorum.
\par }{\f0\insrsid5710293 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\b\f0\insrsid11094353\charrsid5710293 PART 2
\par MANAGEMENT OF SOCIETY
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 9 Management of Society}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The Annual General Meeting of the Society shall elect from amongst}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 their members \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (a) A Management Committee of a \endash }{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (i) Chairman;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (ii) Vice Chairman;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (iii) Secretary;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (iv) Treasurer;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (v) 1 to 3 other members;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (b) The names of persons elected under paragraph (a) shall be}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
communicated to Cabinet not later than 14 days after their election.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (2) All members of the Management Committee shall be of the age of 20}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 years or more.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (3) The Management Committee shall make arrangements for the internal}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 audit of the accounts of the Society at least once every 3 months or at such intervals
}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 decided upon by the Management Committee.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (4) At the end of each financial year the books and accounts shall be audited}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 by such person or persons as are appointed by the Management Committee with}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 the approval of Cabinet.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 10 Functions of Management Committee}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The general management and control of the Society shall be in the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Management Committee.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (2) Without limiting the generality of subsection (1) the Management}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Committee shall \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (a) Approve, defer, or reject applications for membership;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (b) Expel or discipline members as provided for in the Constitution;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (c) Approve, defer or reject applications for loans;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (d) Have general responsibility for the investment of funds of the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Society;}{
\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (e) Recommend the interest rate on shares to the Annual General}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
Meeting of the Society; and}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (f) Do all such other things as are necessary for the achievement of the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
purposes of this Act.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 11 Management Committee meetings}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The Management Committee shall hold meetings at least once in each}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 month.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (2) Every meeting shall be presided over by the Chairman or, in the absence}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 of the Chairman, the Vice Chairman or, in the absence of the Vice Chairman, some
}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 other member of the Management Committee nominated by the Management}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Committee to preside over the meeting.}{\f0\insrsid11094353 

\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (3) At all meetings of the Management Committee 3 members of the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Management Committee shall form a quorum.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (4) At any meeting of the Management Committee the Chairman or in the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 absence of the Chairman, the Vice Chairman or the person nominated to preside}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 over the meeting shall have a deliberative vote and in the case of an equality of}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 votes a casting vote.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (5) All questions before the Management Committee shall be decided by a}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 majority of votes recorded in it.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 12 Procedure}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 Subject to this Act, and rules made under it, the Management Committee}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 may regulate its procedure in such manner as it thinks fit.}{\f0\insrsid11094353 

\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 13 Employees of Society}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The Management Committee may employ such persons and take such}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 other steps as they think necessary and expedient for properly carrying out their}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 duties.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (2) Any person so appointed may hold office in addition to or in conjunction}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 with any other office.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\b\f0\insrsid11094353\charrsid5710293 PART 3
\par FINANCIAL PROVISIONS
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 14 Accounts and audit}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The Society shall keep or shall cause to be kept proper accounts and}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
other records in respect of its operations and shall cause to be prepared statements}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 of accounts in respect of each financial year as soon as possible.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (2) The accounts of the Society shall be audited by such person or persons}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 as are appointed under section 9(4).}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 15 Remuneration Fund}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) There shall be established a Remuneration Fund to which every member}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
of the Society shall contribute annually a sum prescribed by the Rules of the Society.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (2) There shall be paid from the Remuneration Fund to the members of}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 the Management Committee such remuneration by way of salary, fees, or}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 allowances as may be prescribed by the Rules of the Society either generally or in}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 respect of any particular person or 
persons or class or classes of persons.
\par }{\b\f0\insrsid5710293 
\par }{\b\f0\insrsid11094353\charrsid11828553 16 Deposits}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 Deposits may be received on behalf of the Society upon or subject to such}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 terms and conditions as may be prescribed by this Act or by any regulations or}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Rules made under this Act.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 17 Withdrawals}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 Withdrawals may be made upon or subject to such terms and conditions as}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 may be prescribed by this Act or Rules made under this Act.}{\f0\insrsid11094353 

\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 18 Deposits banked}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The amount of the deposits and all other sums of money received by}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 the Society, except so much as is retained for daily requirements, shall with all}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 convenient speed, be deposited in a trading bank or the Post Office Savings Bank}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Account in the name of the Society.}{
\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (2) The said account shall be operated only by cheque signed by one}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 member of the Society for the time being authorised by the Management}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Committee in that behalf, and countersigned by one of the Management}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Committee.}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 19 Proportionate sum retained}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Society shall at all times keep in cash or in other resources immediately}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 available as may be approved in that behalf by Cabinet sums amounting in the}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 aggregate to not less than 5 percent of the total amount for the time being standing}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 to the credit of the depositors.}{
\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 20 Investment in Government securities}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Society shall invest a minimum of 20 per cent of its funds in any given}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 year in Niue Government securities or New Zealand Government securities.
\par }{\b\f0\insrsid5710293 
\par }{\b\f0\insrsid11094353\charrsid11828553 21 Loans}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The Society may with the approval of the majority of members at the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Annual General Meeting lend to the Government such sums of money as may be}{
\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 requested by the Government and the interest on such a loan shall be such figure}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
as negotiated by the Management Committee and the Cabinet.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (2) The Management Committee shall negotiate an agreement with the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 Government over the repayment of the loan.
\par }{\f0\insrsid5710293 
\par }{\f0\insrsid11094353\charrsid11828553 (3) The Management Committee shall not borrow any money without a}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 prior resolution of the Society and the prior approval of Cabinet.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\b\f0\insrsid5710293\charrsid5710293 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\b\f0\insrsid11094353\charrsid5710293 PART 4
\par MISCELLANEOUS PROVISIONS
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 22 Sealing of deeds}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 All deeds, documents and other instruments requiring the seal of the Society}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
shall be signed by an officer of the Society or by such other person or persons as}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 the Society shall appoint and such signing shall be taken as sufficient evidence of}{\f0\insrsid5710293  }{
\f0\insrsid11094353\charrsid11828553 the due sealing of such deeds, documents and other instruments.
\par }{\b\f0\insrsid5710293 
\par }{\b\f0\insrsid11094353\charrsid11828553 23 Investigation of Society}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Society may at any time be investigated by Cabinet \endash 
\par }{\f0\insrsid5710293 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (a) Upon receipt of a resolution of the Society passed by two thirds of}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
the members present and voting and such resolution to be}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 forwarded by the Secretary of the Society to the Cabinet not later}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
than 7 days from the date it was passed, or;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (b) If it has reason to believe that the affairs of the Society are such as to}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
require an investigation.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid5710293 
\par }{\b\f0\insrsid11094353\charrsid11828553 24 Suspension or dissolution}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid5710293\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Society may at any time be suspended or dissolved by Cabinet upon}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 such terms and conditions it may decide \endash 
\par }{\f0\insrsid5710293 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (a) Upon receipt of a resolution of the Society passed by two thirds of}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
the members present and voting and such resolution to be}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 forwarded by the Secretary to the Cabinet not later than 7 days}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
from the date it was passed;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 Provided that not less than 60 members were present; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid5710293 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 (b) If it is satisfied after an investigation has been conducted that the}{\f0\insrsid5710293  }{\f0\insrsid11094353\charrsid11828553 
Society be dissolved.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid5710293 
\par }{\b\f0\insrsid11094353\charrsid11828553 25 }{\f0\insrsid11094353\charrsid11828553 [Repealed by 2004/270]}{\f0\insrsid11094353 
\par }{\f0\insrsid5710293\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5710293 {\f0\insrsid11094353\charrsid11828553 \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash 
\endash \endash 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid5710293\charrsid4001012 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11094353\charrsid9988381 SCHEDULES
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid5710293\charrsid9988381 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11094353\charrsid9988381 Section 6(1)
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11936626\charrsid9988381 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11094353\charrsid9988381 SCHEDULE 1
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid5710293\charrsid9988381 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11094353\charrsid9988381 CONSTITUTION OF THE PUBLIC SERVICE SAVINGS AND LOAN SOCIETY
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid5710293 
\par }{\b\f0\insrsid11094353\charrsid11828553 1 Name}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The name of the Society shall be the Public Service Savings and Loan Society.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 2 Membership}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 Membership of the Society shall be limited to members and retired members of}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 the Niue Public S
ervice Association (Incorporated), who in the opinion of the Society are}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 honest, industrious and of good habits, and for the time being are resident on Niue.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 3 Cessation of membership}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) A member ceases to be a member of the Society \endash 
\par }{\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) Upon dissolution of the Society; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) Upon the death of the member; or}{\f0\insrsid11936626 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (c) Where a member leaves Niue permanently; or
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (d) Upon the resignation of a member from the Society.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (2) Upon ceasing to be a member for any reasons whatsoever a member\rquote s shares}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
will be refunded less any liability to the Society, and the Management Committee shall}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 have the power to defer the refund of shares for up to 3 months.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 4 Suspension or expulsion}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 Any member charged with misconduct or attempting to injure the Society in any}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
manner whatsoever shall, if found guilty by the Management Committee in respect of}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 such damage, be liable to suspension or expulsion.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 5 Disposal of shares}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 Shares may be transferred from one member to another and subject to the approval}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 of the Management Committee.}{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 6 Loans}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) Any member may borrow from the Society.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (2) A loan may be granted to any member of the Society subject to the prior}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 approval of the Management Committee.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (3) To obtain a loan from the Society a member must apply on the prescribed}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 form to the Secretary of the Management Committee.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (4) The borrower shall sign an agreement with the Chairman of the Management}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 Committee or in the absence of the Chairman any other member of the Management
}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 Committee who is authorised for that purpose setting out the terms and conditions of the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 loan.}{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (5) The borrower shall be required to give such security for the repayment of a}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 loan as may be decided by the Committee.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (6) Loans may be granted to members for productive and other purposes but no}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
loan shall be advanced for any purposes which the Management Committee considers to}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 be unnecessary or contrary to the best interests of the member.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (7) A loan shall be applied for a specific purpose and it shall be granted and used}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
only for that purpose. If a loan or any part of the amount lent is used for any other purpose}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 the loan shall be immediately recalled in its entirety, by the Management Committee.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 7 Failure to repay loans}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Management Committee may take such action as may be necessary to recover}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
arrears of repayments and in the case of persistent defaulting in payment, action may be}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 taken in the civil court to recover arrears as a debt to the Society.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 8 Insurance Fund}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 There shall be established an Insurance Fund of the Society to which the borrower}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
shall pay in cash an insurance premium not exceeding one percent of the amount of the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 contribution and loan and in the event of the death of the borrower the balance of the}{\f0\insrsid11936626 
 }{\f0\insrsid11094353\charrsid11828553 loan shall be a charge against the Insurance Fund but the amount so charged shall not}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
include the amount of arrears of interest or principal due at the date of death of the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 borrower.}{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 9 Banking}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) All monies paid to the Society shall be paid to the Treasurer of the Society and}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 shall be deposited by him in the name of the Society in a ban}{
\f0\insrsid11936626 k approved by the }{\f0\insrsid11094353\charrsid11828553 Society.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (2) All withdrawals from the funds of the Society in a bank must be signed by}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 any two of the following, namely, the Chairman, Treasurer and S
ecretary of the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 Management Committee.}{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 10 Financial }{\b\f0\insrsid11936626\charrsid11828553 Year}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The financial year of the Society shall end on 31 December of each year.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 11 Income of the Society
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 Income by way of Post Office Savings Bank interest, interest on loans and other}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 investments shall at the end of each financial year a}{\f0\insrsid11936626 
nd after payment of expenses be }{\f0\insrsid11094353\charrsid11828553 dealt}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 by the Society at the Annual General Meeting, as follows \endash 
\par }{\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) A third to be placed in a special reserve fund; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) Two thirds payment to members in proportion of the fully paid up shares}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
standing in a member\rquote s name as on 31 December each year.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11936626\charrsid11828553 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash \endash 
\endash \endash 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11936626\charrsid4001012 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11094353\charrsid9988381 SCHEDULE 2
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11936626\charrsid9988381 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11094353\charrsid9988381 Section 6(2)
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11936626\charrsid9988381 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\b\f0\insrsid11094353\charrsid9988381 RULES OF THE MANAGEMENT COMMITTEE
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 Functions of the Management Committee shall be those functions as provided for}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 in section 10(2) of the Act.}{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 2 Members}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The members of the Management Committee shall consist of people appointed}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 under section 9 of the Act.}{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 3 Chairman}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Chairman shall \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) Be responsible for the smooth running and wellbeing of the Management}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
Committee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) See that the decisions of the Management Committee are carried out}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 promptly;

\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (c) Ensure that clear decisions are made on matters under consideration by}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
the Management Committee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (d) Keep the Secretary and the Treasurer up to the required standard in}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
fulfilment of their respective duties;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (e) Go over the Agenda with the Secretary if necessary with the Treasurer as}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
well before any meeting;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (f) Prepare a concise report of the Management Committee\rquote s work during}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
the year of presentation to the General Meeting after 31 December each}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 year.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11936626\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 4 Vice Chairman}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Vice Chairman shall \endash 
\par }{\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) Act for the Chairman in his absence; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) Do all he can to aid the Chairman in the proper conduct of the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
Management Committee.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11936626\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 5 Secretary}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Secretary shall \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) Keep correct and proper minutes of all meetings of the Management}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
Committee including the general meeting and see that the minutes are}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 confirmed at the next following meeting;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) Keep a record of all members of the Society;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (c) Attend to all the correspondence of the Management Committee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (d) Receive and submit all applications for loans to the Management}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
Committee for consideration;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (e) Notify applicants of the Management Committee\rquote s decision;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (f) Arrange a date for the signing of the agreement by the Chairman and the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
applicant where a loan is approved;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (g) Obtain from the applicant whose loan is approved an assignment of salary;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (h) Complete the withdrawal slip with the Chairman for the amount of the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
loan approved and personally hand it to the Treasurer;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (i) Carry out the decisions of the Management Committee;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (j) Send out Notices of Meeting to all members in good time; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (k) Go through the accounts with the Treasurer.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 6 Treasurer}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Treasurer shall \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) Keep proper records of accounts in an orderly and legible manner;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) Receive and receipt all membership entrance fees;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (c) Receive and receipt all member\rquote s shares contributions;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (d) Receive and receipt all members\rquote  loan repayments;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (e) Receive and receipt all members\rquote  insurance premium payments, i.e. on}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
all approved loans;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (f) Pay all fees, shares contributions, insurance premiums, and loan}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
repayments into the Society\rquote s Post Office Savings Account;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (g) Arrange payment of loans to applicants only on receipt of their insurance}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
premium cash payment and receipt of withdrawal slips from the Secretary;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (h) Prepare and present the statement of accounts and balance sheet to the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
Management Committee at the end of each three months;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (i) Prepare and present the annual balance sheet to the Management}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
Committee within one calendar month of the completion of the financial}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 year for presentation by the Chairman to the General Meeting with his}{\f0\insrsid11936626  }{
\f0\insrsid11094353\charrsid11828553 report; and be ready to assist the Chairman to answer any questions;
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (j) Have the necessary books, cash book, ledger, receipt book, files for}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
accounts and receipts and the like, available to the Auditor or the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 Management Committee as required; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (k) Upon the request of any member, present to that member a full statement}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
of that member\rquote s financial position with the Society.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 7 Conditions of loan}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) A member may borrow from the Society \endash }{\f0\insrsid11094353 
\par }{\f0\insrsid11936626\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) An amount equivalent to his fully paid up share or shares; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) An amount equivalent to 50 percent of that fully paid up share or shares.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (2) If a member intends to buy a new car, van or truck, who has had enough}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
share or shares to enable a member to pay two thirds of the price of the vehicle, the
\par Management Committee may grant and advance the remaining one third to such member}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 to enable him or her to pay cash for the vehicle.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (3) Any individual loan at any one time shall not exceed the amount of $9000.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (4) The maximum period for the repayment of a loan will be 5 years.
\par }{\f0\insrsid11936626 
\par }{\f0\insrsid11094353\charrsid11828553 (5) Where a member borrows from the Society \endash 
\par }{\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (a) An amount equivalent to his fully paid up share or shares the rate of}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
interest shall be one percent; and
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11936626 {\f0\insrsid11936626 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid11936626 {\f0\insrsid11094353\charrsid11828553 (b) An amount equivalent to fifty percent of the fully paid up share or shares}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
the interest rate shall be 6 percent increasing to 7 percent for penalty of}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 the outstanding payments after the expiration date for the agreement.
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 8 Accounts}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Society\rquote s accounts shall be kept in an orderly and legible manner by the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 
Treasurer, who shall present a statement to the Management Committee showing the}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 financial position of the Society as at the end of each 3 months.
\par }{\b\f0\insrsid11936626 
\par }{\b\f0\insrsid11094353\charrsid11828553 9 Reports}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid11936626\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 The Chairman shall submit a report annually to the General Meeting of the Society.}{\f0\insrsid11936626  }{\f0\insrsid11094353\charrsid11828553 The report will cover the management and control of the Society\rquote 
s business for the past}{\f0\insrsid4200411  }{\f0\insrsid11094353\charrsid11828553 financial year and it shall be accompanied by an audit statement of accounts on the state}{\f0\insrsid4200411  }{\f0\insrsid11094353\charrsid11828553 
of the insurance fund.
\par }{\b\f0\insrsid4200411 
\par }{\b\f0\insrsid11094353\charrsid11828553 10 Remuneration}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid4200411\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (1) The members entitled to receive remuneration under section 15 of the Act}{\f0\insrsid4200411  }{\f0\insrsid11094353\charrsid11828553 shall receive the following amounts \endash 
\par }{\f0\insrsid4200411 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4200411 {\f0\insrsid11094353\charrsid11828553 (a) Chairman $100;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4200411 {\f0\insrsid4200411\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4200411 {\f0\insrsid11094353\charrsid11828553 (b) Vice Chairman $60;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4200411 {\f0\insrsid4200411\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4200411 {\f0\insrsid11094353\charrsid11828553 (c) Treasurer $200;}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4200411 {\f0\insrsid4200411\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4200411 {\f0\insrsid11094353\charrsid11828553 (d) Secretary $150; and}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4200411 {\f0\insrsid4200411\charrsid11828553 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid4200411 {\f0\insrsid11094353\charrsid11828553 (e) Hon Auditor $100.}{\f0\insrsid11094353 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid11828553 {\f0\insrsid4200411\charrsid11828553 
\par }{\f0\insrsid11094353\charrsid11828553 (2) Every member shall contribute annually to the Remuneration Fund established}{\f0\insrsid4200411  }{\f0\insrsid11094353\charrsid11828553 under section 15 a sum of $4.}{\f0\insrsid11094353 
\par }{\f0\insrsid4200411\charrsid11828553 
\par }{\b\f0\insrsid11094353\charrsid11828553 11 Fees}{\b\f0\insrsid11094353 
\par }{\b\f0\insrsid4200411\charrsid11828553 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid4200411 {\f0\insrsid11094353\charrsid11828553 Every member shall pay an entrance fee of $2 which under no circumstances shall}{\f0\insrsid4200411  }{\f0\insrsid11094353\charrsid11828553 
be refundable.}{\f0\insrsid11087364\charrsid4200411 
\par }}