Aug. 21.] THE NEW ZEALAND GAZETTE. 2053

Non-members may be posted as defaulters.

110. In the event of any person not a member failing to meet any engagement with a member of the Exchange, the member may apply to the Committee to have such person posted as a defaulter. The Committee shall inquire into the case, and if satisfied that such default has been made, shall post the said person and announce to the members that he is in default.

Members not to transact business with a non-member announced a defaulter.

111. A member shall not transact business for a non-member who has been announced to the members as a defaulter, unless such person shall have made an arrangement with his creditor or creditors satisfactory to the Committee.

MEMBERS BARRED FROM DEALING WITH OTHER MEMBERS’ EMPLOYEES.

Business with other members’ employees prohibited.

112. A member shall not buy or sell shares for any one employed in another member’s office.

DISPUTES.

Disputes between members.

113. In disputes between members, with reference to stock and share transactions, brought under the consideration of the Committee the decision of the Committee shall be final and binding, and shall be carried out forthwith by the member or members concerned.

Committee to be sole and final tribunal for settlement of disputes between members.

114. Unless permission of the Committee has first been obtained, members shall not appeal to any Court of law or equity in any dispute that may arise between them in transactions under these rules, and if such permission is not granted they shall accept the Committee as the sole and final tribunal and arbiter therein.

Complaint from non-members.

115. It shall not be incumbent on 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 five 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 five guineas or such other sum to the complainant.

POWER OF COMMITTEE TO PROCURE INFORMATION RELATIVE TO MATTERS UNDER INVESTIGATION.

Committee may require members and their clerks to give information.

116. Members and their clerks when required so to do by the Committee shall attend any meeting of the Committee, and then and there shall give such information as may be in their possession relative to any matter under investigation.

Committee may call upon members to produce their books, &c.

117. The Committee shall have full and absolute power, in the event of a complaint being made, which in their opinion justifies such procedure, to call upon any member to produce for their inspection all books, letters, telegrams, or copies thereof, and other documents in his possession relating thereto, and he shall, without delay, produce them for inspection accordingly.

VIOLATION OF RULES AND PENALTIES.

118. The Committee shall take cognizance of all violations of these rules, whether in letter or spirit. Any member found by them to be guilty of such violation, or who may fail to comply with any decision or ruling of the Exchange or of the Committee, or who, in the opinion of the Committee, is or has been guilty of conduct unworthy of a member, shall be liable to be fined or suspended or fined and suspended from membership by resolution of the Committee; or should the matter be of such moment as in their opinion to demand expulsion, the Committee shall report accordingly to the members at a special general meeting called for that purpose. It shall be competent for the said special general meeting to confirm the Committee’s recommendation and expel the offending member, or to deal with him by fine or suspension.

Fines.

119. The fines mentioned herein shall not, except in cases where another amount is fixed, be less than £25 or more than £100, and in case of a continuous offence shall be not less than £5 or more than £10 for each day during which such offence continues.

NOTICES.

120. Except as by these rules otherwise provided any notice or document to be given or served upon any member shall be deemed to be duly given or served if given by advertisement or by personal service upon the member, or by sending it through the post as a pre-paid letter addressed to such member at his address as appearing in the register or to such other address as he shall from time to time notify in writing to the Secretary, or to his last-known address.

Member guilty of unworthy conduct.

121. Any member of the Exchange who shall fail to observe or be bound by the terms of any decision or ruling of the Committee or of the Exchange, or the spirit or intention thereof relative to the conduct by the members of the Exchange of their business as such members, or to their dealings with one another as such members, or relative to other matters arising out of the objects or purposes of the Exchange, shall be deemed guilty of conduct unworthy of a member, and be dealt with in manner provided by Rule No. 117.

Fines to be paid within one week.

122. If a fine imposed on any member at a special general meeting of members be unpaid at the end of one clear week, the member in default shall forfeit his membership, and the Committee shall announce to the members that he has retired from the Exchange, and his name shall be erased from the list of members.

Restrictions to members voting.

123. A member, or his partner or clerk being a member, shall not vote at any meeting at which a charge affecting such member is under consideration.

Publication of expulsion, &c.

124. The Committee for the time being may, in their absolute discretion, and in such manner as they may think fit, notify, or cause to be notified, to the public that any member has been expelled, or has become a defaulter, or has been suspended, or has ceased to be a member.

No action maintainable.

125. No action or other proceeding shall, under any circumstances, be maintainable by the person referred to in such notification against any member or official publishing or circulating the same, and this rule shall operate as leave and authority to any member or official to publish or circulate such notification, and be pleadable accordingly.

Member under suspension not to attend meetings.

126. A member under suspension shall not attend any meeting of the Exchange unless by leave of the Chairman, and then only for the purpose of speaking on a motion that he be fined or expelled, and having spoken he must withdraw. Such member shall not be entitled to vote.

ALTERATION, AMENDMENT, OR REPEAL OF RULES.

Power.

127. The Exchange shall have power to alter, amend, or repeal any of these rules.

Procedure to be observed for alteration of rules.

128. Notice shall be given in writing, addressed to the Secretary, of any proposed amendment, or repeal of, or addition to the rules. A special general meeting shall be called to consider any proposed alteration, amendment, or repeal, and at least seven days’ notice of such meeting shall be given to the members by circular, sent to the last-known business address of each member. The circular shall contain a copy of the proposed alteration, amendment, or repeal, but the accidental omission to give any such notice to any member shall not invalidate any proceedings taken, or any resolution passed at such meeting. No amendment which introduces fresh matter shall be entertained at the meeting, and no proposed amendment or repeal of, or addition to the rules, if rejected, shall be entertained again for six months.

DISSOLUTION.

Distribution of property.

129. The distribution of the property of the Exchange in the event of its winding-up shall be determined by a special general meeting of the members of the Exchange.

POWERS OF THE COMMITTEE.

130. The Committee may from time to time take all steps and proceedings, and do all acts and things they may consider advisable, for carrying into effect the objects of the Exchange.