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APPENDIX L. 
standing to his credit in the event of his death, provided that they 
together do not exceed the sum of £100. Such nomination may be in 
favour of one person or several persons either jointly or in specified 
Shares. On the receipt of the nomination by the Secretary it will be duly 
registered, and the nominee or nominees will, on production of proof to 
the satisfaction of the Directors of the death of the appointer, be entitled 
to be registered as owner or owners of the Stock, and to receive the deposits 
in accordance with the nomination to the amount of £100, subject, how 
ever, to a declaration as to the amount of the appointer’s estate and to 
payment of estate duty if after deduction of debts and funeral expenses 
it should exceed the value of £100. 
Any nomination may be revoked by the appointer by writing under his 
hand signed in the presence of a witness and registered with the Secretary. 
Where an employee has not registered a nomination and the Stock and 
deposits belonging to him do not exceed the value of £100, the Directors 
are authorised by Parliament, and will be prepared in a proper case 
(after the Estate duty is paid if his total property exceeds £100 after 
deduction of debts and funeral expenses) to distribute the amount in 
payment of funeral expenses or debts or among his widow and children 
or next of kin, if probate of a Will or Letters of Administration are not 
produced within such time as they think reasonable. 
12. A Committee of Management shall be formed, to consist of the 
Chairman of the Board of Directors, and twenty-six members elected by 
the Board, and twenty-seven members elected by the Co-partners in pro 
portion to the numbers at each Station, who shall be elected by ballot; 
candidates must hold and continue to hold while in office on the Committee 
not less than £25 of Stock, and they must have been not less than five 
years in the Company’s service; one-third of the elected members of the 
Committee shall retire by rotation every year, but shall be eligible for re- 
election. Twenty-six members shall constitute a quorum, of which not 
less than thirteen shall be members who were elected by employees, and 
every resolution to be binding at such Meeting shall have for its support 
a majority of the members of the Committee present at, and voting upon, 
the resolution. 
13. The committee shall appoint a Secretary, who shall have no power of 
voting. 
14. In the event of any difference arising as to the construction of these 
Rules, it shall be referred to the Committee, whose decision shall be final 
and conclusive. 
15. There shall be two Auditors, one to be elected by the employees, 
the other to be appointed by the Company, whose duty will be to compare 
and initial the employees’ Pass Books with the General Account, and for 
that purpose all Pass -Books must be handed in or sent to the Head Office 
in the month of May in each year. 
16. The Committee shall meet for the transaction of business when sum 
moned by the Secretary, but not less than twice in each year; they shall 
also be summoned on the requisition of five of their own number or of 
thirty of the employees. 
17. The Secretary shall receive all Notices, summon all Meetings of the 
Committee, and see that all decisions of the Committee are duly carried out. 
18. No alteration shall be made in these Rules whatever except by the 
sanction of the Committee, and subject to notice of at least one calendar 
month; which notice shall state the nature of the alterations, and be 
posted in conspicuous places at the various stations; but nothing in these 
Rules contained, or which may be contained in any Rules hereafter agreed 
upon, shall give to any employee, whether Officer or Workman, any right 
to interfere in the management or control of the Company’s Works, or in 
the working and carrying on of the Company’s business, except as provided 
by the Company’s Acts of 1896-7 for the appointment of three Directors 
by the Employee Shareholders. 
19. The Company shall provide all the books and other incidentals, and 
keep the accounts, together with a record of all the transactions, at the 
Company’s sole cost and charges.