Feb. 24.] THE NEW ZEALAND GAZETTE. 329

The Sharebrokers Act, 1908.—New Rules of the Wellington Stock Exchange.

Head Office, Stamp Duties Office,
Wellington, 10th February, 1938.

HIS Excellency the Governor-General in Council has been pleased to approve of the following new rules of the Wellington Stock Exchange.

W. NASH, Minister of Stamp Duties.

INTERPRETATIONS.

THE marginal notes hereto shall not affect the construction hereof.

“Stock Exchange Association” or “Association” means the Stock Exchange Association of New Zealand.

“The Exchange” means the Wellington Stock Exchange.

“In writing” or “written” includes printing, lithography, typewriting, and other methods of representing or producing words in a visible form.

“Month” means a calendar month.

Words importing the singular number include the plural number also and vice versa.

Words importing persons include firms and corporations.

“Committee” means the Committee of the Wellington Stock Exchange saving only where in these rules a contrary intention appears.

“Member” means a member of the Wellington Stock Exchange and includes country member save where in these rules a contrary intention appears.

CONSTITUTION.

1. The Wellington Stock Exchange (hereinafter called the “Exchange”) shall consist of members engaged in the purchase or sale of stock, shares, debentures, bonds, mines, and mining interests, the negotiation of mortgages, and other similar monetary transactions.

2. No member or his partner shall be a member of any other Stock Exchange.

3. No member other than a country member or any partner of such member shall engage or be concerned or employed in any business other than that of member of the Exchange as defined in these rules, except such business as is reasonably incidental thereto: Provided always that a member who within thirty days of the delivery to him of a copy of this rule satisfies the committee that prior to the 1st day of November, 1937, he has either alone or in partnership regularly carried on other business shall be entitled to continue carrying on such other business; but this privilege shall not attach to the member’s seat or enure for the benefit of any purchaser of or successor to such member’s seat.

4. A member shall not be deemed to be engaged or employed in other business by reason of his being a trustee of an estate or a shareholder in or a director of a company engaged, carrying on, or concerned in other business or by reason of his acting as attorney.

5. A member may act as interim secretary of any company, the prospectus of which has been passed by a Stock Exchange affiliated to the Stock Exchange Association of New Zealand, but he must resign such position within three months of the statutory meeting of such company.

6. No member or firm shall have more than one place of business, and such place of business shall be within the City of Wellington.

7. As from the 1st day of November, 1937, no member other than a country member shall enter into partnership with any person who is not a member: Provided always that a member who within thirty days of the delivery to him of a copy of this rule satisfies the committee that he has carried on the business of stock and share broker in partnership with another or others shall be entitled to continue his existing partnership if such member procures from each of his non-member partners within one month an undertaking to be bound in all respects by these rules as if a member, and to agree that his partnership with his member partner will be forthwith dissolved if demanded by the Exchange in any case in which the Exchange could under these rules expel him from membership had he been a member: but this privilege shall not attach to the member’s seat or enure for the benefit of any purchaser of or successor to such member’s seat, and shall cease and determine upon the member’s partner failing to dissolve the partnership if demanded as aforesaid by the Exchange: And, provided further, that a member may hereafter enter into partnership with a son or sons if and only if such son or sons have first been proposed for the approval of the Exchange