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SCHEDULE.
Regulations as to Certification under this Act.
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Section 3
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The rules of a shop club or thrift fund (herein-after termed “the society”) shall provide for the following matters:—
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i. The name and place of office of the society.
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ii. The whole of the objects for which the society is to be established, the purposes for which the funds thereof shall be applicable, the terms of admission of members, the conditions under which any member may become entitled to any benefit assured thereby, and the fines and forfeitures to be imposed on any member and the consequences of non-payment of any subscription or fine.
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iii. The mode of holding meetings and right of voting, and the manner of making, altering and rescinding rules.
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iv. The appointment and removal of a committee of management (by whatever name), of a treasurer and other officers, and of trustees.
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v. The investment of the funds, the keeping of the accounts, and the audit of the same once a year at least.
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vi. Annual returns to the registrar of the receipts, funds, effects and expenditure and numbers of members of the society.
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vii. The inspection of the books of the society by every person having an interest in the funds of the society.
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viii. The manner in which disputes shall be settled.
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ix. The keeping separate accounts of all moneys received or paid on account of every particular fund or benefit assured for which a separate table of contributions payable shall have been adopted, and the keeping separate account of the expenses of management and of all contributions on account thereof.
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x. A valuation once at least in every five years of the assets and liabilities of the society, including the estimated risks and contributions.
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xi. The voluntary dissolution of the society by consent of not less than five-sixths in value of the persons contributing to the funds of the society, and of every person for the time being entitled to any benefit from the funds of the society, unless his claim be first satisfied or adequately provided for.
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xii. The right of one-fifth of the total number of members, or of one hundred members in the case of a society of one thousand members and not exceeding ten thousand, or of five hundred members in the case of a society of more than ten thousand members, to apply to the chief registrar, or, in any case of societies registered and doing business exclusively in Scotland or Ireland, to the assistant registrar for Scotland or Ireland, for an investigation of the affairs of the society or for winding up the same.
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