2264

THE NEW ZEALAND GAZETTE.

[No. 70

The Sharebrokers Act, 1908.--Rules of the Stock Exchange
Corporation of New Zealand.

Head Office, Stamp Duties Department,
Wellington, 1st November, 1932.

THE following rules of the Stock Exchange Corporation
of New Zealand have, as required by the provisions
of section 11 of the Sharebrokers Act, 1908, been approved
by the Governor-General in Council.

GEO. W. FORBES,
Acting Minister of Stamp Duties.

RULES.

1. THE Stock Exchange Corporation of New Zealand (hereinafter called “the Exchange”) shall consist of members
   engaged in the purchase and sale of shares, stocks, debentures,
   debenture stocks, bonds, obligations, securities, mortgages,
   and monetary transactions.

OBJECTS.

2. The objects and purposes of the Exchange are to provide,
   regulate, and maintain a suitable building, room, or rooms in
   the City of Auckland and such other place or places as the
   committee shall determine for the promotion and facilitation
   of dealings in stocks, shares, and monetary transactions ; to
   establish just and equitable principles in the transaction of
   business; to adjust controversies between its members; and
   to maintain uniformity in its rules and usages.

MEMBERS.

3. Any person who shall hold a license under the Share-
   brokers Act, 1908, shall be entitled to be a member of the
   Exchange upon the terms and conditions hereinafter appearing.

MANAGEMENT.

4. (a) The management of the Exchange shall be vested in
   a committee consisting of Victor Benbow McInnes, Stanley
   Grange, Richard Glover-Clark, and such committee shall have
   (subject to these rules) the direction and control of the affairs
   of the Exchange until the general meeting of members in the
   month of May next.
   (b) At such general meeting and at every succeeding annual
   general meeting one-third of the committee, or if their number
   is not a multiple of three, then the number nearest to but not
   exceeding one-third, shall retire from office. A retiring
   member of committee shall retain office until the dissolution
   or adjournment of the meeting at which his successor is
   appointed.
   (c) The one-third or other nearest number first to retire
   shall, unless the members of committee agree among them-
   selves, be determined by lot; in every subsequent year the
   one-third or other nearest number who have been longest in
   office shall retire. As between two or more who have been
   in office an equal length of time, the member of committee to
   retire shall, in default of agreement between them, be deter-
   mined by lot. The length of time a member of committee
   has been in office shall be computed from his last election or
   appointment where he has previously vacated office.
   (d) A retiring member of committee shall be eligible for
   re-election.
   (e) The Exchange at any general meeting at which any
   members of committee retire in manner aforesaid shall fill up
   the vacated offices by electing a like number of qualified
   persons to be members of committee, and without notice in
   that behalf may fill up any other vacancies.
   (f) If at any general meeting at which an election of mem-
   bers of committee ought to take place the places of the
   retiring members of committee are not filled up, the retiring
   members of committee or such of them as have not had their
   places filled up shall, if willing, continue in office until the
   ordinary meeting in the next year, and so on from year to
   year until their places are filled up, unless it shall be deter-
   mined at such meeting to reduce the number of members of
   committee.
   (g) The Exchange in general meeting may from time to
   time increase or reduce the number of members of committee,
   and may also determine in what rotation such increased or
   reduced number is to go out of office.
   (h) The Exchange may by extraordinary resolution remove
   any member of committee before the expiration of his period
   of office and appoint another person in his stead. The person
   so appointed shall hold office during such time only as the
   member of committee in whose place he is appointed would
   have held the same if he had not been removed. Any casual
   vacancy occurring among the members of committee may be
   filled up by the members of committee, but any person so
   chosen shall retain his office so long only as the vacating
   member of committee would have retained the same if no
   vacancy had occurred.

(i) No person not being a retiring member of committee
shall, unless recommended by the members of committee for
election, be eligible for election to the office of member of
committee at any general meeting unless he or some other
member intending to propose or nominate him has at least
seven clear days before the meeting left at the office a notice
in writing under his hand signifying his candidature for the
office, or the intention of such member to propose or nominate
him.
(j) Meetings of the committee shall be held at such place
and at such times and such notice thereof shall be given as
the committee shall from time to time determine. Unless the
committee otherwise determines, the secretary shall give to
the members of the committee notice of each meeting not later
than the day before the date on which such meeting is to be
held.
(k) A member of the committee shall not at any meeting
take any part in any proceedings relating to any complaint
concerning such member, or otherwise having reference to the
conduct of such member, or relating to any other matter in
which such member has a special interest, and such member
shall not be entitled to vote at any subsequent meeting of
members dealing with any such subject or matter.
(l) A member of the committee shall not take part in any
of its meetings pending the investigation of a charge affecting
himself.
(m) The surviving or continuing members on the com-
mittee, notwithstanding any vacancy in their number, may
act until the vacancy be filled up.
(n) At meetings of the committee all questions shall be
decided by a majority of the members present.
(o) The quorum for meeting of the committee shall be four
(4).
(p) The secretary shall have the custody of all books and
papers. He shall present at each annual general meeting a
statement of the finances of the Exchange to the end of the
previous year, duly audited by the auditor.
(q) In the absence of the secretary from any meeting, or in
case of his suspension, the chairman shall carry out his duties
or may appoint another member to do so.
(r) The chairman shall preside at all meetings of the
Exchange and of the committee, but in the event of his
absence the members present shall elect a chairman for that
occasion.
(s) The chairman of any meeting shall have entire control
thereof, and shall regulate the order and manner in which the
business shall be conducted. The decision of the chairman
shall be final in all cases submitted to him.
(t) In all cases at any meeting when on a division the votes
are equal, the chairman shall have a second or casting-vote.
(u) In the event of any member or members obstructing
the business of the meeting or being guilty of any breach of
etiquette, of which the chairman shall be the sole judge, the
chairman shall have power to inflict such fine, not exceeding
£5, as he may deem advisable.
(v) The financial year of the Exchange shall close on the
31st day of March. A general meeting of members shall be
held annually in the month of May, at which the business
shall be to receive from the treasurer a balance-sheet showing
the financial position of the Exchange and also generally to
conduct any business provided for in these rules.
(w) At any annual general meeting, after all business herein
provided for shall have been disposed of, it shall be competent
for any member to bring under the notice of the meeting any
business or matter within the object or purposes of the
Exchange, and to give notice of any proposition to be con-
sidered at a future meeting.
(x) A special general meeting may be called by the com-
mittee at any time.
(y) No other business shall be transacted at a special general
meeting except that stated in the notice convening the meet-
ing, and no resolution shall be passed, or other business
transacted, which is not included within the objects and pur-
poses for which the meeting is convened. No amendment
shall be allowed upon any resolution contained in the notice
convening any meeting not directly pertinent thereto.
(z) Any general meeting shall have power inter se to adjourn
from time to time as may be found necessary. Whenever an
adjournment to a future day has been decided on, notice
thereof shall be given in such manner as may be determined
by the chairman of the meeting. No business shall be trans-
acted at any adjourned meeting other than the business left
unfinished at the meeting so adjourned.
(aa) Every member shall have one vote, and all questions
shall be decided by a majority of the members present and
voting, except in cases otherwise provided for in these rules.
Voting by proxy shall not be permitted.
(bb) The quorum for general and special meetings shall be
not less than one-third of the total members of the Exchange
for the time being entitled to vote,