The Pamphlet Collection of Sir Robert Stout: Volume 88
XXIX
XXIX.
Rules to Come in [unclear: once on]
At a Special General Meeting of the Investment Shareholders of "The Permanent Investment and Loan Association of Canterbury," held in Mr. Charles Clark's Auction Room, Hereford Street, Christchurch, on Friday, the 28th day of December, 1877,
"That this meeting approves and adopts as the rules of the Association those now submitted by the Directors, and of which a copy has been sent to the address of each Shareholder, in terms of the 'Building Societies Act 1876,' with the insertion of the following words : Under rule 5—' That the Directors whose names are prefixed hereto, shall continue to be the Directors of the Association, subject to retirement as hereinafter provided.' That the blank in that part of rule 5 relating to the remuneration of the Directors, be filled up with the sum of '£300.' That rule 6 be amended by the excision of the words' 2000 A Capital shares 'and the insertion in lieu thereof of the words' £10,000 paid-up.' That to rule 7 be added the words 'and be held by Shareholders only.' That to rule 12 the following clause be added, 'A shares shall not be withdrawn.' That to rule 14 be added the words' The profits on the A shares shall be paid annually.' That the following clause in rule 18 be expunged, 'provided that any advances to members upon their B Investment Shares shall not in any case exceed the amount actually paid upon such shares at the time of making such advances.' That the words 'provided that no advance be made upon A Capital shares,' be added to rule 18. That the rules shall commence and take effect from the 1st day of January, 1878."
Seconded by Mr. W. R. Mitchell, and unanimously agreed to.
We, the undersigned Investment Shareholders of "Ihe Permanent Investment and Loan Association of Canterbury," do hereby certify that we were present at a Special General Meeting of Shareholders of the said Association, held in Mr. Charles Clark's Auction Room, Hereford Street, Christchurch, on Friday, the 28th day of December, 1877, and that the foregoing resolution was unanimously passed.
Robert Wilkin, (Chairman of the Meeting).
F. E. Wright.
J. J. Thomson.
John Lewis, (Manager).