Page 1 Advertisements Column 2

Wairarapa Times-Age, 30 December 1942, Page 1

BIRTHS, MARRIAGES & DEATHS. DEATHS. RESIDE—At Hamilton, on December 29, 1942, Alexander Reside, formerly i of Masterion; aged 85 years. ! > WILEY—At Masterton Hospital on 1 Tuesday, December 29, 1942, Georgina i Esther, relict of the late Cornelius David Wiley. Private interment at f Clareville Cemetery tomorrow (Thursday, December 31). No flow- - ers by request. 1 j PUBLIC NOTICES. i f ! MISS M. G. McGREGOR 1 For : DISTINCTIVE FLORAL TRIBUTES. ; Ring 1869. = • Address: 30 Essex Street. , QWING to war conditions, my business will be closed for one month only. ’ MRS A. E? DILLON FLORAL ART SPECIALIST, i CHURCH STREET. ! SPECIAL NOTICE. CYNTHIA CARLE SALON DE COIFFURE. WASHES to announce that her Hair- " dressing Salon will be closed for renovations from TUESDAY, January , 5, 1943, until FRIDAY, January 8, 1943. Appointments may be made at 5 ColL lege Street. 1 TEMPORARY ’PHONE NO. 2298. ’ NO MORE PILES. 1 ZANN gives immediate and permanent re- ’ lief. For generous trial treatment, send 9d i stamps.—Zann Pty.. Box 952, YZ, Featherston Street, Wellington. 3 r , - freedom to meet and regulate its meetings ■ as it thinks fit. This is a similar power to ' that conferred on Companies iby Table A of ; the New South Wales Companies’ Act, 1936. • Provision is also made for the Board to ! delegate its powers to committees. : INVESTMENT OF FUNDS.—Wider powers 1 of investment are expressly given by the 1 Society’s Amending Act of 1941. which also empowers the Society by its Bylaws to pre1 scribe the mode of investment of the Soci- ■ ety’s funds. The proposed Bylaws accord--1 ingly give greater scope for the investment ■ of the Society’s funds, the necessity for ■ which has been occasioned by changed and ■ ever-changing conditions. The alterations ' include power to invest in shares and de- • bentures of corporations and companies. The i limitations on the investment in purchase or mortgage of land are removed and securities 1 which are Trustee investments in any British ■ Country and securities guaranteed by any I British Government (and not only by that 1 of the United Kingdom) become authorised ■ investments. Power to improve properties 1 and to purchase any real or personal pro- ; perty for the purpose of working to better , advantage properties owned by or under ■ mortgage to the. Society are also conferred. > The power of investing money on deposit is 1 also enlarged. ANNUAL INVESTIGATIONS.—The provi- ■ sion in the present Bylaws that bonus addi- ! tions to any Policy shall not vest until after 1 the policy has endured two years is not int eluded in the proposed new Bylaws. This I does not indicate any change in the practice ’ of the Socoiety. It is considered desirable, - however, that the Board should have power • to alter the Society’s practice either in re- - spect of some or all classes of policies at any time it might think it desirable to do so. ’ The present Bylaws provide that no un- - realised profit arising from the increased i value of any asset shall be taken into ac--1 count as portion of the divisible surplus. ’ This is unduly restrictive, and with respect 5 to securities purchased below par is not in t accordance with sound accountancy practice. 1 It is not included in the proposed new Bylaws. s AUDITORS.—A retiring Auditor is not r required to give notice of candidature. The 1 rights and duties of an Auditor are set out 1 in greater detail and correspond substantial- £ ly with the provisions of the New South “ Wales Companies’ Act, 1936. Bylaw 87 of the f proposed Bylaws relates to the auditing of e the accounts kept at the Society’s Branch 3 Offices, no mention of which appears in the 1 present Bylaws. t With the rapid growth of the Society the " duties and responsibilities of the Auditors r have increased greatly. The present remuneration of each Auditor was fixed at £5OO twenty-two years ago, when the assets of >• the Society were £44,000,000, compared with £140,000,000 at the present time. Provision is made for remuneration at the rate of £lOOO a year, or such other sum as is fixed by the Annual Meeting. PENSIONS AND SUPERANNUATION BENEFITS.—At the present time the only fund for superannuation purposes subsidised by the Society is the Officers’ Provident Fund, the benefits of which apply only to male members of the permanent staff. Female members of the staff, agents (of both the Ordinary and Industrial Departments), S and wage employees are not covered by any similar fund. The proposed new Bylaws it provide that the Board shall have power to - subsidise all Funds or Schemes which it t- considers desirable for the welfare of the staff. A proviso is included in the new Bya laws that: — y “No pension shall be granted or given >- to an officer who has retired or is about to i- retire, and who is or will become entitled i- to a pension under the Australian Mutual ie Provident Society’s Officers’ Provident Fund, or to his wife, widow, family, conit nections or dependants without the con- -- sent of a General Meeting of the Socciety.” >o INDEMNITY OF DIRECTORS & OFFICERS, ie —An indemnity following the form in genif eral use in Great Britain since the passing ie of the Companies’ Act, 1929, and in New s- South Wales since the passing of the Comni panies’ Act, 1936, is included, »- GENERAL.—The limitations with respect ig to the countries in which the Society can isrs sue policies are removed. Certain powers le which in the past have been assumed to be ts vested in the Board will be expressly conferred by the new Bylaws. These include t- power to divide the business of the Society :y into departments (Bylaw 4), to accept sura- renders of policies (Bylaw 8), to exercise ir statutory powers in other States or counle tries (Bylaw 11). to keep separate registers id at all or any of the offices or agencies of the Society, to transfer at the request of the i- member a policy from one register to anzs other (Bylaw 15). to provide that premiums id and claims be paid at. and in the currency i- of, the place in which the policy is registered :h (Bylaw 16). is Other matters dealt with are the signing of of policies (Bylaw 6), the keeping of minutes (Bylaw 92), the giving of notices (Bya- laws 93 to 100), the conditions on which 1- policies are to be issued (Bylaw 9), the rea moval of the limits on the amount of as‘l- surance on any one life and of the conditions on which reassurance business can be uni- dertaken. and on which the Society can rein assure part of any policy issued by it (see ex. iy isting Bylaw 8). the qualifications and diste qualifications of- Directors and Auditors (Bye, laws 45, 46, 81 and 82). id In many cases the language has been re:d vised, and the substance of the previous Byic- laws expressed in a clearer manner, and er various anomalies have been corrected. The a order of the Bylaws has also been rearrangie ed. as s - Complete, tear out, and present to the A.M.P. - e Office where your Policy is Registered. •h Please supply me with Proxy Forms in - r connection with the Special Meetings to be e- held in Sydney on February 12, 1943, and , March 1, 1943, respectively. Of Name in Full is • , * . Full Address w d ~..