Unit officer.
Haserve fuen.
Andit of Respunts.
Audit and
supervision
fund.
By-laws.
28
05. If in any society, in the opinion of the Registrar, any member of the committed or other officer is unfit for the disburge of his duties, the society shall, on the requirement of the Registrar, dismiss him.
68. (1) The reserve fund of a registered society, created in pursuance of the provisions of section 34 (1) of the Ordinance, may, with the sanction of the Registrar,
society, or
(a) be utilised in the business of the registered
(b) be applied to meet occasional deficiencies in- curred by the registered society.
(2) In sanctioning the utilisation or application of the reserve fund under paragraph (1) of this rule, the Registrar may impose such terms and conditions as he may deem ft.
87. lo purauance of the provisions of section 36 of the Ordinance, the accounts of every registered society shall be audited once at least in every year by some person authorised by the Registrar. Buch person shall have access to all the books and acconate of the registered society and shall examine every balance aleet and annual return of the receipts and expenditure, funda and effects of the registered society, and shull verify the same with the accounts and vouchers relating thereto, and shall either sign the same as found by him to be correct, duly vouched and in accordance with the Ordinance, and shall report to the Registrar accordingly, or shall specially report to the Registrar in what respects he finds the same incorrect untouched or not in accordance with the Ordinance, The Registrar shall thereupon forward the report of such person to the committee.
68. (1) There aball be constituted a fund to be knowu as the Audit and Supervision Fund and every registered society shall, when called upon to do so by the Registrar, make annually a contribution to such hund.
(2) Datil such time as a society has been established and registered for the purposes of supervision and audit, such contributions shall be held by the Registrar and administered by him on behalf of the contributing registered societion.
(3) So long as the Registrar administers the fund on behalf of the contributing registered societies, he shall report in every year to the Government in respect of the income derivod from contribution, the expenditure he has sanctioned from the fund and the balance in his banda.
(4) As soon as a society for supervision and audit has been established and registered, the fund shall be credited to anch society and shall be utilized by anch society in accordance with its objects and by-laws,
(5) Until a society for supervision and audit has been established and registered, the Registrar shall fix the amount of the annual contribution to the fund of every registered society called upon to contribute to the fund. The amount of overy such annual contribution shall be subject to a maximum of either five per centum of the net annual profits of the registered society or of one per centum of the working capital of the registered society, and shall not in any case be less than three per centum on the net annual profits or one half per centum of the working capital.
89. (1) The by-laws of a proposed society aball contain pro- vision in respect of the following matters:
(a) the name of the society;
(b) the registered adilcess of the society;
(c) the objects for which the society was established;
(d) the purposes to which the funds may be applied; (e) the qualifications for membership, the terms of admission of members, and the mode of election;
and
29
(f) the nature and extent of the liability of members;
(g) the manner of raising funds, including the maximum rate of interest on deposits,
(2) If the objects of the proposed society include the creation of funds to be lent to the members, the proposed by-laws shall, in addition, contain provision in respect of the following matters; →→
(a) the occupation and residence of the members; (b) the conditions on which loans may be made to members, including-
(i) the rate of interest, aud
(i) the maximum amount which may be leat
to a member; and
(c) the consequences, if any, of default in the pay-
ment of any sum due on account of shares.
70. (1) Where in pursuance of the provisions of Section Aprendient 10 (1) of the Ordinance u registered society amenda ita by-laws, of by-lawn. mach amendment shall be made by a resolution of the members of the registered society at a general meeting.
(2) Every resolution under paragraph (1) of this rula shall not be valid and effective unless it was taken by a majority of not less than three-fourths of the members present at the general weeting of which the resolution was proposed.
(3) A copy of a resolution under paragraph (1) of this rule shall be forwarded to the Registrar together with three copies of the amendment.
11. For the purposes of section 20 of the Ordinauce a copy copies of of an entry in the book of a registered society may be certified by a matries. certificate written at the foot of such copy, declaring that it is a true copy of such entry and that the book containing the entry is still in the custody of the society; such certificate being dated and signed by the secretary and one member of the committee.
72. (1) Reference of a dispute to the Registrar for decision Reference of under the provisions of section 49 (1) of the Ordinance may be a dispute to
the Tegintrar made...
for decision.
(a) by the committee; or (b) by the registered society in paramance of a resolation in that "behalf taken in general meeting; or
(e) by any party to the dispute; or (d) where the disputo concerns a member of the committee and the registered society, by any member of the registered society.
(2) Every reference under this rule shall be made by a statement in writing addressed to the Registrar. Such statement aball-
(a) be dated;
(b) specify the dispute;
(c) set out fall particulars of the dimute; and
(d) be signed by the party making it.
73. (1) Where, in pursuance of the provisions of section Referance to 49 (2) (b) of the Ordinance, the Registrar decides to refer a arbitration dispute to arbitration, such decision shall be embodied in an order by the of reference under his band.
Registrar.
(2) Every order of reference under this rule shall......
(a) specify the namo, surname, place of abode and occupation of the arbitrator or arbitrators;