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7. Each share shall represent forty acres of rural land and a quarter-acre town allotment, and no member shall be allowed to subscribe for or occupy more than five such allotments.

8. The town shall be laid off in such manner as a majority of the shareholders may decide at a meeting called for business purposes, and no member shall be allowed to draw for more than three town allotments fronting the main road, the same to be fixed according to the following scale, that is to say:—A member holding 200 acres of rural land may have three town sections fronting the main road; holding 160 acres may have two sections on main road; holding 120 acres may have twosections on mainroad; holding 80 acres may have one on mainroad; but any member having only a forty-acre allotment may choose his town section on either of the main roads; the remaining allotments that members are entitled to may be taken on any of the other streets in the town. The surplus town allotments shall be disposed of in such a manner as a majority of the members may think best.

9. Rural sections shall be chosen by ballot, and any member who may have the last order of choice of farm sections shall have first choice in each series for town allotments that he may be entitled to.

10. The price of each 40 acres shall be £40, payable every three months, at the rate of one pound for each share per month, until the members shall have paid £40 for each and every share they may hold, but every member will be at liberty to pay larger instalments or the whole purchase money in one payment, should it suit his convenience so to do. The price of each quarter-acre town allotment shall be one pound, payable on the day of drawing.

11. Each member shall pay or cause to be paid his instalments from time to time to the Treasurer, whose receipt shall be a sufficient voucher for such payment. Payment shall be made on the first Friday in September, on the first Friday in December, and on the first Friday in March, and on the first Friday in June in each year.

12. Any surplus money arising out of the sale of town allotments, fines, or entrance fees, shall be applied by the Committee to the payment of preliminary expenses which have and will be incurred by the Committee in establishing the Association, and to any other purpose which a majority of the members shall decide at a general meeting.

13. All moneys paid to the Treasurer on account of the Association shall be placed in the Bank of New Zealand to the credit of the Association, and all moneys drawn from the Bank shall be by cheque signed by the Treasurer and counter-signed by two of the Committee.

14. Any member who shall fail to pay his quarterly instalments on or before the day appointed, shall pay to the Committee, for the benefit of the Association, a fine of one shilling per share for the first omission, doubling the fine each quarter that a member neglects or fails to make payment.

15. In the event of the death of a member before being put in possession of his land, his interest in the allotment or allotments will revert to his heirs or executors, who may dispose of it to a bona fide settler: Provided always that no member shall be allowed to hold in all more than 200 acres; but should the deceased leave a widow or children, they shall be at liberty to occupy, irrespective of age or sex.

16. Should any member be necessarily compelled to leave the district previous to his being entitled to his Crown Grant and before completing the requisite term of occupation, it shall be competent for the Committee to permit such member to transfer his right, title, and interest in the Association to another bona fide settler: Provided always that no member shall be allowed to hold more than 200 acres.

17. Any member of the Association who may be found to have taken shares for speculative purposes, and not with a view to bona fide settlement, shall, upon sufficient proof thereof to the satisfaction of a majority of the members, forfeit his interest in the Association, and the Committee shall re-allot his shares to a bona fide settler; and these Rules shall be sufficient authority for such forfeiture and re-allotment.

18. Should any member of the Association fail to comply with Rule 14, or any part thereof, he shall forfeit his interest in the Association, and the Committee shall have power to dispose of his shares to a bona fide settler.

G. F. Bowen, Governor.

WHEREAS by "The Immigration and Public Works Act Amendment Act, 1871," the Governor is, among other things, empowered to enter into arrangements for the acquisition of particular portions of land in the North Island, for the purpose of mining for gold, for the establishment of special settlements, or for the purposes of railway construction. And by the said Act it is also provided that it shall be lawful for the Governor, whenever he shall have determined to enter into negotiations for the purchase of such land, to insert a notice in the New Zealand Gazette that it is his intention to enter into such negotiations, and after such notice is inserted it shall not be lawful for any one to purchase or acquire from the Native owners any right, title, or interest, or contract for the purchase or acquisition from the Native owners of any right, title, or interest, in the lands specified in such notice, unless the notice be cancelled by the Governor: Provided that no such notice shall have longer operation than for the period of two years: