1476
THE NEW ZEALAND GAZETTE.
[No. 42

RULES AND BY-LAWS OF THE TARANAKI STOCK EXCHANGE
AS AT 24TH APRIL, 1907.

Rules.

Name.

1. This Exchange shall consist of the undersigned stock
   and share brokers, and of such persons as may be hereafter
   elected in accordance with these rules, and shall be called
   “ The Taranaki Stock Exchange.”

Objects.

2. The objects and purposes of the Exchange are the
   exchange of quotations, the facilitating of purchases and
   sales, and the maintenance of honourable dealings amongst
   its members.

Number of members.

3. The number of members shall be limited to forty, and
   the joining-fee for formation members shall be £1 1s.

Entrance fee.

4. (a.) The entrance fee shall be £25, payable to the
   secretary at the time of nomination.
   (b.) That as opportunity offers the Exchange may sell
   the seats purchased from late members for the sum of not
   less than £100, and in future and until altered the fee for
   transferring a seat without shares shall be £20.

Subscription.

5. The annual subscription shall be £1 1s., payable within
   fourteen days from the 1st day of December 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 each call.

Members, how admitted.

6. Members shall be elected by general ballot. Each can-
   didate 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 pro-
   fession 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, and that one week’s
   notice be given for ballot of an associate member.

Ballot.

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

Black balls. Rejected candidate.

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

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 sign rules.

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

Failing to pay subscription.

11. If any member fail to pay the annual subscription due
    on the 1st day of December in each year, or within fourteen
    days thereafter, or shall fail to pay all calls made within
    fourteen 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 exceed-
    ing £5.

Statement of accounts.

12. A statement of accounts, duly audited, shall be sub-
    mitted by the committee of the association to the members
    at the annual meeting once in each year.

Office-bearers.

13. The office-bearers shall be a chairman, vice-chairman,
    and a committee consisting of five. The chairman and vice-
    chairman to be ex officio members of the committee. Any
    four members to form a quorum.
    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 amongst the office-bearers dur-
    ing the year shall be filled by the members of the associa-
    tion, 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 mem-
    bers of the association on the first day in the month of
    December 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 forthwith.

16. At every annual general meeting the whole of the
    office-bearers shall retire, and their places be filled up at such
    annual meeting. Such election shall take place by ballot.
    All such retiring office-bearers shall be eligible for re-election
    with the exception of two of the committee of five, who shall
    not be eligible for one year. At the first two annual meet-
    ings the two members of committee not eligible for re-
    election as above shall be decided amongst themselves, but
    at the annual meetings to be held after the meeting in 1907
    the two members of committee longest in office shall retire
    for one year.

Mr. D. McAllum, secretary.

17. A secretary shall be elected by ballot by the vote of
    the 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.

18. The committee shall have charge of the funds of the
    association, and all payments shall be made by cheques
    bearing the signature of the chairman and secretary, and all
    moneys be paid into the National Bank of New Zealand.
    That in future when applications are made for donations
    the chairman shall inform applicants that the Exchange has
    no power to donate any funds.

Place of meeting.

19. The association shall hold its meetings at such places
    and times as may be agreed upon.
    The hours of call shall be 12 noon daily, and at such
    other times as may from time to time be deemed necessary.

20. 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 Taranaki 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,”
    “price current, or “trade circular,” except the following:—
    The Stock Exchange shall issue a monthly share-list under
    the authority and at the expense of the Exchange.
    No sales shall be quoted on the list excepting such as take
    place in the call-room.
    A register of all sales done in the call-room shall be kept
    giving buyer, seller, number of shares, and prices.
    But sales in mining shares made between the calls may be
    quoted at the first call after the sale has been effected.
    Sales can only be quoted the same day as made subject to
    the approval of the chairman.
    No net quotation shall be accepted in the call-room.

Quotation challenged.

21. 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 re-
    ferred by the committee to the members of the association,
    to be dealt by them under Rule 26.

22. The members of the Taranaki 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 two-thirds 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 deter-
    mined until after the lapse of three days from such notice,
    and no resolution of the Exchange shall be rescinded unless
    a similar notice be given.

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

23. 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 after.

Settlement of dispute and complaints.

24. 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 who shall not 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