Feb. 1.] THE NEW ZEALAND GAZETTE. 295

and the maintenance of honourable dealings amongst its members.

Number of members.

3. The number of members shall be limited to twenty.

Entrance fee.

4. The entrance fee shall be £50, payable to the secretary at the time of nomination.

Subscription.

5. The annual subscription shall be £1 1s., payable within fourteen days from the 1st day of January in each year, and any other calls for current expenses to be made by the committee, and payable within fourteen days from the date of such call.

Members, how admitted.

6. Members shall be elected by general ballot. Each candidate for admission shall be proposed by one member and seconded by another in their own handwritings in a book kept for that purpose, and the name, occupation or profession, and address of each candidate shall be stated, and at the next meeting of the Exchange the secretary shall state the name of the candidate so proposed.

Ballot.

7. The ballot shall take place at the afternoon call of shares in the call-room, on the day after seven days has expired from the day on which such candidate has been proposed. No ballot shall be valid unless five members actually vote; and in case of the failure of a ballot by any means whatever the name of the candidate proposed at such abortive ballot shall be balloted again for next day.

Black balls. Rejected candidate.

8. One black ball in three shall exclude. Proxies shall not be allowed. No rejected candidate shall be again proposed for election within the space of six months after his rejection.

Names of elected candidates to be posted.

9. It shall be the duty of the secretary immediately after the ballot to post in the call-room the name of the candidate elected.

Candidate to sign rules.

10. Immediately after his election the candidate shall sign a copy of these rules, which shall be deemed a declaration of his submission to the rules and by-laws.

Failing to pay subscription.

11. If any member fails to pay the annual subscription due on the 1st day of January in each year, or within twenty-eight days thereafter, or shall fail to pay all calls made within twenty-eight days from the date of the call being made, the secretary shall report the same to the committee, who may at their discretion inflict a fine on such member not exceeding £5.

Statement of accounts.

12. A statement of accounts, duly audited, shall be submitted by the committee of the association to the members at the annual meeting once in each year. The statement to be as at the 23rd day of December in each year.

Office-bearers.

13. The office-bearers shall be a chairman, honorary secretary, and a committee consisting of three members. The chairman and honorary secretary to be ex officio members of committee. The chairman shall have a casting as well as a deliberative vote.

13A. In the event of any member of committee being absent for more than one month without leave his seat to be declared vacant.

Vacancies in office, how filled.

14. Any vacancy occurring among the office-bearers during the year shall be filled by the members of the association, and any person so appointed shall hold office till the next election of office-bearers.

Annual general meeting.

15. There shall be an annual general meeting of the members of the association on the 23rd day of December in each year for the purpose of electing office-bearers and an auditor for the ensuing year, and the duties of the office-bearers then elected shall commence on the 1st day of January following.

15A. At every annual general meeting the whole of the office-bearers shall retire, and their places shall be filled up at such annual meeting. Such election shall take place by ballot.

Secretary.

16. A secretary shall be elected by ballot by the vote of a majority of the members, and shall hold office during his good behaviour. The secretary shall be under the control of, and may be suspended from office by the committee.

Custody of funds.

17. The committee shall have charge of the funds of the association, and all payments shall be made by cheques bearing the signatures of the chairman and secretary, and all moneys be paid into the bank.

Place of meeting.

18. The association shall hold its daily meetings at such times and place as may be agreed upon.

The hours of call shall be 11 a.m. and 2.30 p.m. daily, except on Saturdays, when the call shall be at 11.30 a.m. It shall be competent for the committee to vary the hours and number of calls.

Official list.

19. The list of quotations of prices and of purchases and sales effected or reported at the meetings of the Exchange shall be the official list of the Thames Stock Exchange, and the Exchange shall not issue (nor be responsible for the issue by any of its members) of any other “list of sales,” “prices current,” or “trade circular.”

Quotation challenged.

20. Any member whose published quotation is challenged may be called upon to verify the same to the satisfaction of the committee. Failing verification, the case shall be referred by the committee to the members of the association, to be dealt with under Rule 25.

21. The members of the Thames Stock Exchange shall have power to make new rules and to make by-laws and to alter the same from time to time, but no new rule or by-law, nor any alteration or amendment of the rules or by-laws, shall be passed unless there be present at the meeting convened for such purpose at least five of the members of the Exchange, and four-fifths of the members present at such meeting shall be the minimum majority required to effect any additions to or alterations of the rules or by-laws.

Notice of any proposed departure from the ordinary customs and proceedings of the Exchange shall be given at a meeting of the Exchange, and the matter shall not be determined until after the lapse of three days from such notice, and no resolution of the Exchange shall be rescinded unless a similar notice is given.

New rules, additions to and alterations of rules and by-laws.

22. Notice of any proposed new rule or by-law, alteration of or addition to the rules or by-laws, shall be given in writing at a meeting of the Exchange, and shall be considered and determined (if the necessary majority is obtained) on a day (appointed by the committee) not less than seven or more than fourteen days thereafter.

Settlement of disputes and complaints.

23. In any dispute arising between, or complaint against, members the matter shall be referred to and be investigated by the committee, whose decision shall be final. Any member who shall not carry out or abide by such decision may be suspended by the committee from all privileges of membership for any period not exceeding seven days, and he shall be forthwith reported to the Exchange as under suspension; and after the expiry of the term of suspension, if the member shall still not have conformed to the committee’s decision, the members shall be convened by notice, not shorter than three days, to consider and determine whether he shall or shall not be finally disqualified from membership.

Complaint from non-members.

24. It shall not be incumbent upon the committee to entertain any complaint submitted to them by any one not a member of the Exchange against a member of it, unless such member shall have been employed by the complainant in the capacity of broker; and in that or any other case in which a non-member desires the intervention of the committee, he shall, previously to the case being heard, pay not less than two guineas, or such other sum as the committee may determine, to the secretary, and shall undertake in writing to abide by, and forthwith to carry out, the decision of the committee in the same manner as if he were a member of the Exchange; the committee to have the power to repay the whole or part of the said two guineas to the complainant.

Fines. Expulsion.

25. In the event of any member being considered guilty of dishonourable or disgraceful conduct, the committee shall