Page 2 Advertisements Column 1

Manawatu Standard, Volume LXIII, Issue 25, 29 December 1942, Page 2

AUSTRALIAN MUTUAL PROVIDENT SOCIETY ESTABLISHED 1849. SPECIAL MEETING OF MEMBERS. "~)Y Qrdcr of the Board, I Charles J Mountsido Martin, Secretary of Australian Mutual Provident Society, do hereby, pursuant to Bylaw ifo of the Society's Bylaws, call and conveno a Special Meeting of the Society to be held at the Offices of the Society, 87 Pitt. St., Sydney, New South Wales, on Friday, the twelfth day of February, 1943, at 2 p.m., to consider and if thought fit to pass and approve the following resolution : "That the Bylaws contained in the printed document submitted to the meeting and for the purposes of identification subscribed by Sir Samuel llordern, K.8.E., the Chairman of tho Society, bo approved and passed as the Bylaws of the Society in substitution for and to the exclusion of all the existing Bylaws thereof." And I further give notice that if the said resolution be passed or approved by the requisito majority at the oaul reefing, a confirmatory meeting will be held at the Society's said Offices on Monday, tho first day'of March, 1943, at 2 pin., for the. purpose of finally passing tho said resolution, and I hereby call and convene such meeting accordingly. The proposed new Bylaws were drswn by the Society's ',legal i-.dvisers i.ftcr consultation with the Society's officers, and have had tho full consideration of tho Directors, who strongly recommend their adoption. Copies of tho Society's Act of poration as amended in April, 1941. of the existing Bylaws and of tho r. r <p osod Bylaws, and a printed explanation are available for inspection by members at each of the Society's offices. Proxy papers should be lodged at the Principal Office of the Society in the Country, State, or Territory in winch the policy ontitling the member to vote is registered. By Order of the Board, C. M. MARTIN, Secretary Head Officer 87 Pitt St., Sydney. December 18, 1942. AUSTRALIAN MUTUAL PROVIDENT SOCIETY. SPECIAL MEETINC, FRIDAY, tho Twelfth Day of February, * 1943, at 2 p.m. NOTICE TO MEMBERS. Tho Directors have ordered a Special Meeting to be called for 2 p.m., Friday, the twelfth day of February, 1943. at the Society's Head Office, 87 Pitt St., Sydney, to consider and, if thought fit, to pass the following resolution: — ''That tho Bylaws contained in the printed document submitted tO i the meeting and for tho purposes of identification subscribed bv Sir Samuel Hordern, K.8.E., the Chairman of the Society, be approved and passed as the Bvlaws of the Society in substitution for and to the exclusion of all tho existing Bv-laws thereof." If the resolution is passed at this meeting a confirmatory meeting will be held at, 2 p.m.. Monday, the first, day of March, 1943. Members will remember that by an Act passed in 1941 tho Legislature of the State of New South Wales amended the Societv's Act of Incorporation as consolidated in 1910. ' These amendments extended tho objects of the Society and conferred increases in its powers which were badly needed to cope with modern conditions. To give effect to some of the amendments alterations to tho Bylaws are necessary. No complete revision of the Bylaws has been made since 1887, although various amendments have been made from time to time since that date. Restrictions and limitations of no real protection to members hamper the conduct of the Society' s business and seriously interfere with the power of tho Society to take advantage of tlie increased powers conferred by the amending Act. The opportunity has thercforo been taken .thoroughly to revise the whole of the Bylaws, to remove unnecessary limitations and restrictions, to settle doubts which existed about tho interpretation of certain of the existing Bylaws, to seek further powers to make better provision for the benefit of the Society's staff, agents, and wage employees, both male and female, to enlarge the Society s powers of investment, and to express clearly certain powers which have been onlv implied in the past. Copies of tho Society's Act of .Incorporation as amended in 1941 and copies of the existing Bylaws and tho proposed Bylaws .aro available for inspection by members at each of the 'Society s Offices and a limited number of such copies, is available there for members who desire to have the same. A short memorandum follows this notice,, drawing attention to the more important of the alterations. The proposed Bylaws have beon drawn bv the Society's Solicitors after many consultations with the Society s Officers, and have been. settled by Counsel. Ihey have had the full consideration of- the Directors, who strongly, recommend their adoption and urge every member to show' his practical interest in tho welfare ot the Society by voting in favour of the resolution to be proposed. Any member unable to attend . the meetings personally may appoint any other member as his proxy to vote on his behalf.' and forms for this purpose may bo obtained on application naming as proxy Sir Samuel Hordern or other tho Chairman of tho meeting; but you are at liberty to appoint any other member to act for you. If you are unable to vote in person, you arc asked to obtain and complete both forms and return them to the Society. Unless you direct otherwise, proxies in favour of tho Uiarrman of the Meeting will be used to vote for the adoption of tho proposed new Bylaws. SAMUEL HORDERN, Chairman. CECIL 11. HOSKINS, Deputy Chairman. F. H. TOUT J 11. F. FAIRFAX W. A. MACKAY S. A. SMITH S. G. ROWE Directors. December 9, 1942. MEMORANDUM. AUSTRALIAN MUTUAL PROVIDENT SOCIEIY. PROPOSED ALTERATIONS TO SOCIETY'S BYLAWS. The new Bvlaws which it is proposed that the Society shall adopt will make the following amongst other changes in the existing Bylaws of the Society:— MEMBERSHIP.—Every person effectin"' a policy becomes a member of the Society by virtue of the Act. The present Bylaws provide that a member of tho Society shall remain a member so long as he retains an interest in the policy in respect of which ho is a member. The Society's Amending Act of 1941 however, provides that, in the event of the interest of any member being asisgncd, tho assignee may, if the Bylaws so provide, be the member in respect of the policy in lieu of the assignor. Bylaw 3 of the proposed Bylaws gives power to the Board to determine whether or not an assignee- shall be admitted as a member in lieu of tho previous member. I his power is desired, not for the purpose of discrirniatng against individuals., but to enable mortgagors and other assignors retaining a considerable interest in the policy to retain their rights as members. VOTES OF MEMBERS.-The scale of voting remains unaltered.. Jhe form o proxy paper to bo used » now set out n the proposed new Bylaws. Where here arc two or more members, .the one named first in the policy or ass.gnr wilT alone be entitled to vote under proposed new Bylaws. . . DIRECTORS,-A new provision u contained in Bylaw 47 of the proposed Byav" whereby a Director shall not bo disqualified by his office from contractin* with the Society; but he shi vote in respect of such a contract -._.- nrovision is one that is usual and common in the constitutions, of companies. m Tho "enumeration of. Directors remains .maltored. Provision is. ,he«««. made and for OK DIRICTOR Sr -The ||S»^^ h^ 0 n bylaws siHii nstead of after, guch ballot is to. bo declared at tho'