1268

THE NEW ZEALAND GAZETTE.

[No. 33

shall, previously to the case being heard, submit a statement
in writing of such complaint and give a written undertaking to
abide by and carry out the decision of the Committee.

PENALTIES.

101. The penalty for breach by any affiliated Exchange of
     any of these rules may be :—
     (a) Suspension of the Exchange concerned for such time as
     the Committee deems fit.
     Or (b) Expulsion of the Exchange concerned.
     Or (c) Fine not exceeding in any case a sum equal to £5 for
     each member of the Exchange so fined, the membership to be
     computed at the date of imposition of such fine in no case
     exceeding in all £100.

102. Nothing in this Rule shall be deemed to affect the
     power of any affiliated Exchange (subject to appeal in accordance
     with these rules) to impose fines and penalties upon its members
     in accordance with its or these rules.

103. The penalty upon any member of an affiliated Exchange
     for breach of these rules may be suspension or expulsion or fine
     not exceeding £200, provided that nothing in this rule shall be
     deemed to prevent any affiliated Exchange by its rules prescribing
     different penalties for breach by its members of its rules, and,
     provided further, that nothing in the proviso immediately pre-
     ceeding shall be deemed in any way to limit the duties and obliga-
     tions of affiliated Exchanges in accordance with the rule next
     succeeding.

104. Where this Association gives any ruling, award, or
     decision within the powers conferred by these rules, such award,
     ruling, or decision shall be carried into effect by any affiliated
     Exchange concerned to the full extent directed by this Associa-
     tion, and, without in any way limiting the foregoing, each
     affiliated Exchange shall, upon the direction of this Association,
     expel or suspend any of its members or collect from any of its
     members any fine or penalty directed by this Association to be
     collected from any of its members.

LISTING.

105. Admission to quotation on the Official List shall be
     upon the terms and conditions set out in the form of application
     provided by the Association.

106. (a) No Exchange shall (after the adoption of these
     Rules) place any additional stocks, shares, or debentures on its
     official list until such stock, share, or debenture shall have
     appeared in the official list of the Exchange nearest to the Head
     Office of the Company, Corporation, or other body issuing such
     stock, share, or debenture.

(b) Any company wishing to be placed on the Call List shall
be charged a fee of £5 5s. This fee shall be charged only by the
first Exchange to list the Company. A Company applying for
registration on an Exchange list shall supply a list of directors,
objects, and capital of the Company, a full list of shareholders,
and the number of shares held by each ; also a copy of the last
annual report and balance-sheet, and shall supply, as soon as
issued, copies of all balance-sheets, reports, and circulars issued
to shareholders. The Exchange concerned shall have power
to decline to list any company and to remove any company
from the list, or to charge an increased fee for listing any com-
pany which has not been floated by a member of the Exchange
concerned.

(c) Where any company applies to be listed on any Stock
Exchange, the vendors’ shares, if any, may be quoted separately
from the contributing shares both in the daily and monthly
lists, and the Committee of the Exchange where listing is applied
for may refuse to grant quotations for vendors’ shares.

(d) An Exchange may refuse to list a Company if its share-
holders are not supplied with a copy of the Annual Report and
Balance-sheet.

(e) Any Listed Company which interferes with the rights of
Preference Shareholders, such as writing down of Capital, may
be removed from the Official List.

107. No affiliated Exchange shall list any Investment Trust
     Company or similar concern except with the approval of a
     majority of the Metropolitan Exchanges.