Formation, Name, and Object of the Society.

1. The Society shall be established under the provisions of an Act of the General Assembly of New Zealand, entitled "The Building and Land Societies' Act, 1866," and shall be called the Standard Property Investment Society, and shall have for its object the raising, by Monthly Subscriptions, a stock or fund for the purpose of enabling any Member to receive out of the same the amount or value of his shares on security of real or leasehold estate, to be secured by mortgage to the Society for the purpose of securing the repayments, &c., by these Rules provided, and to facilitate the accumulation of small sums of money for those purposes, and others provided for in the following Rules.