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Wairarapa Times-Age, 30 December 1942, Page 1

TELEPHONES .1646, 1647 (2 lines) CONNECTS WITH ALL DEPARTMENTS, INCLUDING JOB PRINTING. P.O. Box 445.

PUBLIC NOTICES. AUSTRALIAN MUTUAL PROVIDENT SOCIETY. ESTABLISHED 1849. SPECIAL MEETING OF MEMBERS. BY Order of the Board, I, Charles Mountside Martin, Secretary of Australian Mutual Provident Society, do hereby, pursuant to Bylaw 36 of the Society’s Bylaws, call and convene a Special Meeting of the Society to be held at the Offices of the Society, 87 Pitt Street, Sydney, New South Wales, on Friday, the twelfth day of February, 1943, at 2 p.m., to consider and if thought fit to pass and approve the following resolution:— . , . ~ “That the Bylaws contained in tne printed document submitted to the meeting and for the purpose of identification subscribed by Sir Samuel Hordern. K.8.E., the Chairman of the Society, be approved and passed as the Bylaws of the Society in substitution for and to the exclusion of all the existing Bylaws thereof.” And I further give notice that if the said resolution be passed or approved by the requisite majority of the said meeting, a confirmatory meeting will be held at the Society’s said offices on Monday, the first day of March, 1943, at 2 p.m., for the purpose of finally passing the said resolution, and I hereby call and convene such meeting accordingly. , . The proposed new Bylaws were drawn by the Society’s legal advisers after consultation with the Society’s officers, and have had the full consideration of the Directors, who strongly recommend their adoption. Copies of the Society’s Act of Incorporation as amended in April, 1941, of the existing Bylaws and of the proposed Bylaws, and a printed explanation are available for inspection by members at each of the Society’s offices. Proxy papers should be lodged at the Pnncipal Office of the Society in the Country, State, or Territory in which the policy entitling the member to vote is registered. By Order of the Board, C. M. MARTIN, Secretary/ Head Office: 87 Pitt Street, Sydney. December 18, 1942. AUSTRALIAN MUTUAL PROVIDENT SOCIETY. ' SPECIAL MEETING. FRIDAY, the Twelfth Day of FEBRUARY, 1943, at 2 p.m. NOTICE TO MEMBERS. The Directors have ordered a Special Meeting to be called for 2 p.m. Friday, the twelfth day of February, 1943, at the Society’s Head Office, 87 Pitt Street, Sydney, to consider and, if thought fit, to pass the following resolution:— “That the Bylaws . contained m the printed document submitted to the meeting and for the purposes of identification subscribed by Sir Samuel Hordern, K.8.E., the Chairman of the Society, be approved and passed as the Bylaws of the Society in substitution for and to the exclusion of all the existing Bylaws thereof.” If the resolution is passed at this meeting a confirmatory meeting will be held at 2 p m Monday, the first day of March, 1943. Members will remember that by an Act passed in 1941 the Legislature of the State of New South Wales amended the Society’s Act of Incorporation as consolidated in 1910. These amendments extended the objects of the Society and conferred increases in its powers which were badly needed to cope with modern conditions. To give effect to some of the amendments alterations to the Bylaws are necessary. No complete revision of the Bylaws has been made since 1887, although various amendments have been made from time to time since that date. Restrictions and limitations of no real protection to members hamper the conduct of the Society's business and seriously interfere with the power of the Society to take advantage of the increased powers conferred by the amending Act. The opportunity has therefore been taken thoroughly to revise, the whole of . the Bylaws, to remove unnecessary limitations-and restrictions, to settle doubts which existed about the interpretation of certain of the existing Bylaws, to seek further powers .to make better provision for the benefit of the Society’s staff, agents, and wage employees, both male and female, to enlarge the Society’s powers of investment, and to express clearly certain powers which have been only implied in the past. Copies of the Society’s Act of Incorporation as amended in 1941 and copies of the existing Bylaws and the proposed Bylaws are available for inspection by members at each of the Society’s Offices, and a limited number of such copies is available there for members who desire to have the same. A short memorandum follows this notice, drawing attention to the more important of the alterations. , . . The proposed Bylaws have been drawn by the Society's Solicitors after many consultations with the Society’s Officers, and have been settled by Counsel. They have had the full consideration of the Directors, who strongly recommend their adoption and urge every member to show his practical Intel est in the welfare of the Society by voting in favour of the resolution to be proposed. Any member unable to attend the meetings* personally may appoint any other member as his proxy to vote on his behalf, and forms for this purpose may be obtained on application naming as proxy Sir Samuel Hordern or other the Chairman of the meeting * but you are at liberty to appoint any other member to act for you. If you are unable to vote in person, you are asked to obtain and complete both forms and return them to the Society. Unless you direct otherwise, proxies in favour of the Chairman of the Meeting will be used to vote for the adoption of the proposed new Bylaws. SAMUEL HORDERN, Chairman. CECIL M. HOSKINS, Deputy Chairman. F. H. TOUT J. H. F. FAIRFAX W. A. MACKAY S. A. SMITH S. G. ROWE Directors. December 9, 1942, MEMORANDUM. AUSTRALIAN MUTUAL PROVIDENT SOCIETY. SPECIAL MEETING, FERUARY 12, 1943. PROPOSED ALTERATION TO SOCIETY S BYLAWS. The new Bylaws which it is proposed that the Society shall adopt will make the following amongst other changes in the existing Bylaws of the Society:— MEMBERSHIP.— Every person effecting a policy becomes a member of the Society by virtue of the Act. The present Bylaws provide that a member of the Society shall remain a member so long as he retains an interest in the policy in respect of which he is a member. The Society’s Amending Ac of 1941. however, provides that, in the even: of the interest of any member being assigned, the assignee may, if the Bylaws sc provide, be the member in respect of the policy in lieu of the assignor. Bylaw 3 o the proposed Bylaws gives power to the Board to determine whether or not an as signee shall be admitted as a member in liei of the previous member. This power is desired. not for the purpose of discriminatinf against individuals, but to enable mortgagor: and other assignors retaining a considerably interest in the policy to retain their right: aS VOTES e OF MEMBERS—The scale of vot ing remains unaltered. The form of P ro *- paper to be used is now, set out in the pro posed new Bylaws. Where there are two o more members, the one named first in th policy or assignment will alone be entitlec to vote under the proposed new By-laws. DIRECTORS.—A new provision is contain ed in Bylaw 47 of the proposed Bylaw, whereby a Director shall not be disqualifiec by his office from contracting with the Socciety ■ but he shall not vote in respect of sue! a contract. This provision is one that i usual and common in the constitutions o C °The remuneration of Directors remains un altered. Provision is, however, made en abing the board to make payments to . Director for special services and for travel ling and other expenses. . ELECTION OF DIRECTORS.—The princ. pal change in this section is the a ’ tera£l ° of the time for holding any ballot that ma be necessary. The new Bylaws stipulate that any such ballot is to be taken before instead of after, the Annual Meeting an the result of such ballot is to be decla e at the Meeting. The provisions of the ex isting Bylaws as to the holding o£ fT° the ballot if a candidate should die within . certain time before the declaration of th. ballot are repeated with certain extension and modifications in the proposed Bylaws Provision is made for secret voting.. Notic. of candidature must be given in the menu of March. The revised form of voting pape: indicates which of the candidates are re tiring Directors. ' ANNUAL MEETINGS.—In consequence o proposed alterations in the method of elec tion the date for holding Annual Meetings u changed from May to June. PROCEEDINGS OF DIRECTORS.— Bylaw 63 of the proposed Bylaws gives the Boarc