Page 1 Advertisements Column 3

Press, Volume XII, Issue 1581, 30 November 1867, Page 1

! New Advertisements. TO THE DIRECTORS AND MANAGER OP THB PROVINCIAL INVESTMENT AND LOAN ASSOCIATION. GENTLEME N,-We the undersigned Members, do hereby request that you will convene a GENERAL MEETING of the Members of the Aesoeiation, for the purpose of amending the rules of the Society, by making those hereunto annexed. Dated this 7th day of August, 1867. Wm. Day. Abthttb R. GtH-TNESS. w. p. cowlishaw. Wm. Bobbb & Sons. F. Hobbs. Geo. Fletcher. George Piebcy. I—The following part of Clause 2 of Rule 1 is hereby repealed, namely, " Three to form a quorum" and " and each direstor shall be separately elected, and the election and all questions or difference ensuing thereon shall be decided by a majority of votes, to be taken in manner hereinafter specified." 2 —Rule 16 is also hereby repealed. 3 —Four of the directors shall form a quorum

4 —Every member who shall become a candidate for the office of director shall give notice thereof to the Manager in writing, to be left at the Association's offices seven days at the least before the annual general meeting, and the names of the candidates who have given such notice shall be published in one or more Christchurch newspapers four days at the least before the day of election, and no member shall be eligible who shall fail to give such notice. s—Special general meetings of the members may at any time be convened by the chairman or any four of the directors. 6—AH elections and questions at any meeting shall be decided by a majority of votes. 7—Any general or special meeting of the members may be adjourned from time to time, and such business may be transacted at such adjourned meetings as might have been transacted at the original meetings from which the adjournment took place. * B—There shall be a monthly meeting of shareholders at the Association's office, Cookham • House Chambers, Colombo street, in the City of Christchurch, or at such place as the directors may approve, on the last Thursday in each month, between the hours of seven and nine p.m. 9—The directors shall order a full statement of the Society affairs, specifying in whose custody or possession the funds or effects of the Society shall be then remaining, together with an account of all sums of money received and expended on account • of the said Society since the publication of the preceding periodical statement, to be annually prepared and audited seven days at least before the annual general meeting of the members at which such statement is to be submitted ; and each member shall be entitled to receive, upon application at the Society's office?, a copy of such, statement as audited, and copy of the directors' intended report one day at least prior to the general meeting for submission of the same. 10—The directors shall, at their first meeting after every annual meeting, appoint two members (to act as auditors of the Society), who shall audit the accounts of the Society, and sign the annual statement of the Society's affairs.

11—On the redemption of any security by a member, or when all repayments have been made by him on advances pursuant to the rules, a receipt shall be indorsed on such security for all moneys secured thereby, to be signed by the trustees; the Bame shall be delivered to such member, with all other deeds and documents deposited by Him in connection with, such security, and such receipt shall be prepared and indorsed, and .lie necessary signatures obtained, and any matters relating thereto, at the expense of such member. 12—It shall be lawful for the trustees (upon the direction and at the request of the directors) to invest such part of all moneys belonging to the Society as shall not be required for the immediate purposes of the Society in advances to any member or members of the Society upon security, and by way of realizing any share or shares held by such member or members, upon the following terms :— I. —No such advance shall exceed the amounts actually paid upon the shares offered as security at the time of making the advance. ll.—The shares shall be transferred to the trustees of the Society by the member, but he shall continue liable to all the payments prescribed by the rules in respect of the shares. Hl.—At the time of making the advance, a certain number of the shares, to be fixed by the directors, shall be deemed to be and shall be anticipated. IV.—lf the shareholder should neglect to pay his subscription upon the shares until the fines upon the unanticipated shares and the arrears of subscription, interest, and fines upon the anticipated ones shall equal all the moneys paid by him for subscription upon the unanticipated shares offered as security, he shall forfeit all interest in the Association in respect of such shares, and they shall be forfeited to the Association.

13.—The consent of the Society to investments, under the authority of Section 20 of the Building and Land Society Act, 1866, shall be given by the directors on behalf the Society, testified by a minute 1 thereof in the directors' minute book. Christchurch, September 23, 1867. In accordance with the above requisition, the directors of the Provincial Investment and Loan Association hereby convene a public meeting of the shareholders, to be held in the old Town Hall, Christchurch, on Tuesday, the 3rd day of December next, at halfpast seven o'clock p.m. By order of the Board, Jbxar L-Wis, U.S. Manager,