8 AUGUST
THE NEW ZEALAND GAZETTE
2549

I have read and agree to be bound in all respects
by both the rules and regulations of The New Zealand
Stock Exchange and the bylaws of the Auckland
Regional Stock Exchange which are now or hereafter
may be for the time being in force.

I intend to practise as a full-time sharebroker within
the territory of the Auckland Regional Stock Exchange
and I will not to any substantial degree engage in or
be concerned in or be employed in any business other
than that of a member of this exchange.

Attached please find:
(1) my cheque for the required entrance fee which I
understand will be refunded only in the event of my
failing to be elected.
(2) a copy of my sharebrokers licence.
(3) a statement of my assets and liabilities as required
by the rules of The New Zealand Stock Exchange.
(4) details of my past work experience and any
professional or academic qualifications

Yours faithfully,

Proposed by

Seconded by

9.02 The candidate shall be elected by a secret ballot of ordinary
members of which 14 days’ notice shall be given.
9.03 No ballot shall be valid unless one-half of the then existing
ordinary members register votes.
9.04 Two ordinary members shall be appointed by the
Chairman to act as scrutineers and they shall be the final
judges of whether any voting paper is a valid one.
9.05 The scrutineers shall record the final result of the ballot
in writing and sign it.
9.06 One adverse vote in every 5 valid votes shall exclude the
candidate from election.
9.07 Should any ballot prove invalid by reason of an insufficient
number of votes being registered, another ballot shall be
held at a time to be fixed and announced by the Chairman
within 14 days of the date of the invalid ballot.
9.08 No rejected candidate shall be again proposed for election
within 6 months of his rejection.

10.0 Country Membership
10.01 “Country member” means a member who is practising
as a part-time sharebroker and whose ordinary place of
business is within the territory of the regional exchange.
10.02 The Committee shall have the power to designate areas
within the territory of the exchange where country
members may operate.
10.03 Applications for admission to country membership shall,
except as other provided, be made in the following form:

To: The Chairman,
Auckland Regional Stock Exchange.

Dear Sir,

I wish to apply for admission to country
membership of the Auckland Regional Stock
Exchange.

I have read and agreed to be bound in all respects
by both the rules and regulations of The New Zealand
Stock Exchange and the bylaws of the Auckland
Regional Stock Exchange which are now or hereafter
may be for the time being in force.

I intend to practise as a part-time sharebroker in
………… and details of my business are as
follows:
(— the applicant should specify the nature of his
business, whether or not he practises in partnership
and give full details of any partners including their
academic or professional qualifications.)

Attached please find:
(1) my cheque for the required entrance fee which I
understand will be refunded in the event of my
failing to be elected.
(2) a copy of my sharebrokers licence.
(3) a statement of my assets and liabilities as required
by the Rules of the New Zealand Stock Exchange.
(4) details of my past work experience and any
professional or academic qualifications.

I understand that if elected, my membership shall be
only for the current calendar year and that I will be subject
to re-election in each succeeding calendar year.

Yours faithfully,

Proposed by

Seconded by

10.04 The procedure for the initial election and subsequent
annual re-election of country members shall be the same
as that set out in bylaws 9.02–9.08 above.
10.05 An applicant for country membership shall forward with
his application a list of the names of each and every
partner with whom he carries on business. The applicant
shall also supply such other information as to the integrity
or financial standing of his partners as the Committee
may require.
10.06 All incoming partners of any firm in which one of the
existing partners is a country member of this exchange
shall be notified to the Committee for approval. If the
Committee do not approve of an incoming partner, the
country member shall be entitled to have the question of
approval referred to a general meeting of ordinary
members for consideration.
10.07 All non-member partners of a country member are
required to meet the same financial standards as are
applied to an applicant for membership and where a
partner is to be approved by a vote of members, this shall
be carried out according to the bylaws applicable to the
election of members.
10.08 Where a partner is not approved, whether by the
Committee or after a vote of members, the committee
shall by notice in writing require the member to dissolve
his partnership with the partner so rejected within one
month of the date of receipt of such notice.
10.09 If after that time the member has not dissolved the
partnership in question, he shall be deemed to have retired
from the exchange and the Committee shall announce to
all members of The New Zealand Stock Exchange that
he has so retired and his name shall be removed from
the list of country members.
10.10 All country members shall apply for re-election not later
than the first day of November in each year or such other
annual date as the exchange may fix by resolution and
shall be re-elected annually.
10.11 Any country member whose application for re-election is
not in the hands of the Secretary by the prescribed date
in any year shall automatically cease to be a member as
at 31 December of that year and shall be required to make
fresh application for admission to membership and pay
the usual entrance fee.

11.0 Rights of Members
11.01 The rights and privileges of every member shall be
personal to himself and shall not be transferable either
by his own act or by operation of law.
11.02 Members who resign or cease to be members from any
cause whatsoever or persons claiming through them or
the executors or administrators of any deceased member
shall have no claim on the assets of the exchange. Any
resignation shall be made in terms of Rule 3.05.

12.0 Authorised Clerks
12.01 The Committee may at the written request of a member
or firm, authorise an employee of such member or firm
to attend the official trading meetings of the exchange for
the purpose of
(1) making quotations or
(2) buying and selling shares on behalf of the member
or firm.
12.02 Any such employee shall be designated an authorised clerk
and while performing those functions for which he has
been authorised shall be deemed to be the agent of his
employer.
12.03 The member or firm on whose application a clerk is
authorised shall be responsible for all the transactions of
that clerk.
12.04 Any candidate for admission as an authorised clerk shall
be at least 20 years of age and shall have at least 6 months
sharebroking experience although this period may be
reduced by the Committee if it is satisfied that the
candidate has had other suitable commercial experience.
12.05 The Committee may of its own accord and shall at the
written request of the employing member or firm cancel
a clerk’s authorisation, provided that the member or firm