274 
MODEL BULES 
The committee of management shall once at least in 
every year submit the accounts of the society, together 
with a general statement of the same and all necessary 
vouchers up to the 31st December then last, for audit, 
either to one of the public auditors appointed under the 
Industrial and Provident Societies Act, 1876, or to two or 
more persons appointed as auditors by the members at the 
meeting next before each yearly meeting of the society, 
and shall lay before every such meeting a balance sheet 
(which either may or may not be identical with the annual 
return, but must not be in contradiction to the same), 
showing the receipts and expenditure, funds and effects of 
the society, together with a statement of the affairs of the 
society since the last ordinary meeting, and of their then 
condition. Such auditors shall have access to all the 
books and accounts of the society, and shall examine every 
balance sheet and annual return of the receipts and expen 
diture, funds and effects of the society, and shall verify the 
same with the accounts and vouchers relating thereto, and 
shall either sign the same as found by them to be correct, 
duly vouched, and in accordance with law, or shall specially 
report to the meeting of the society, before which the same 
is laid, in what respects they find it incorrect, unvouched, 
or not in accordance with law.—Industrial and Provident 
Societies Act, 1876, s. 10. (1 c.) 
9.—Investment of Capital. 
The committee of management may, if they shall think 
fit, invest in any company established under the Companies 
Acts, or incorporated by Act of parliament or by charter, 
with limited liability, or in any society under the Indus 
trial and Provident Societies Act, 1876, or the Building 
Societies Acts, any part of the capital funds of the society, 
at such rate of interest and upon such terms as to repay 
ment or otherwise as may be agreed upon. [State here 
any other manner in which the capital may be invested.] 
10.—Loans and Deposits. 
The society may contract loans and may receive money 
on deposit, from members and others, not exceeding 5s. 
in one sum, or ,£20 from one depositor, repayable at not 
less than two day’s notice. [State the conditions, security, 
and limit of amount.] No payment of withdrawable 
capital shall be made while any claim in respect of a