1947-HKRS28-8-14_Part05 — Page 4

Rule

ROLE 61.

[APPLICABLE TO MARKETING SOCIETIES.]

51

Marketing.

Temporary absence of secretary.

52

Bad debts.

53

54

Preparation of annual accounts and report.

Teanafar of shares.

56

Sales of shares of members in default.

56

Secretary.

57

Payment of secretary.

58

Security by secretary.

50

Suspension of accretary.

60

C1

Duties of secretary.

62

Treasurer.

63

Security by treasurer.

64

Duties of treasurer.

65

Unft officers,

86

Reserve fund.

67

Audit of accounts.

68

Audit and supervision of fund,

69

By-laws.

70

Amendment of by-lawa.

71

Copies of entries.

79

Reference of a dispute to the Registrar for decision.

73

Reference to arbitration by the Registrar.

74

Proceedings before the arbitrator or arbitrators.

76

Proceedings before the Registrar.

76

Feea.

tv

HONG KONG.

No. 43 of 1947.

Мимиками.

I assent.

Governor,

17th October, 1947.

An Ordinance to provide for the formation and to regulate

the operation of co-operative societies.

[17th October, 1947.]

Be it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:-

PART I.

PRELIMINARY.

1. This Ordinance may be cited us the Co-operative shot tięte. Societies Ordinance, 1947.

2. In this Ordinance unless the context otherwise Interpret requires-

tion.

"bonus" means a share of the profits of a registered society divided among its members in proportion to the volume of business done with the society by them from which the profits of the society were derived;

"by-lawa" menns the registered by-laws made by a society in the exercise of any power conferred by this Ordinance, and includes a registered amendment of the by-laws;

"committee" means the governing body of a regis- tered society to whom the management of its affairs is entrusted;

I

"dividend" means a share of the profits of a regio- tered society divided among its members in proportion to the share capital held by them;

"member" includes a person or registered society joining in the application for the registration of a society, and a person or registered society admitted to membership after registration in accordance with the by-laws;

"'officer" includes a chairman, secretary, treasurer, member of committee, or other person empowered under the rules or by-laws to give directions in regard to the business of a registered society;

"registered society" means a co-operative society registered under this Ordinance;