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MODEL BRANCH RULES.
3. It shall be the duty of the committee of management
to provide the secretary with a sufficient number of copies
of the annual return, or of some balance sheet or other
document duly audited, containing the same particulars as
to the receipts and expenditure, funds and effects of the
branch, for supplying gratuitously every member or person
interested in the funds of the branch, on his application,
with a copy of the last annual return, or of such balance
sheet or other document as aforesaid for the time being,
and it shall be the duty of the secretary to supply such
gratuitous copies on application accordingly.
XIV.—Investment of Funds, Holding of Land, &c.
1. So much of the funds of the branch as may not be
wanted for immediate use, or to meet the usual accruing
liabilities, shall, with the consent of the committee of
management, or of a majority of the members of the branch
present and entitled to vote at a general meeting, be
invested by the trustees in such of the following ways as
such committee or general meeting shall direct : namely,
in any savings bank certified under the Act of 1863, or
Post Office Savings Bank, in the public funds, or with
the Commissioners for the Reduction of the National Debt,
or upon government or real securities in Great Britain or
Ireland, (a)
or in the purchase of land, or in the erection or alteration
of offices or other buildings thereon as after mentioned.—
Friendly Societies Act, 1875, s. 16 (1).
2. The committee of management, with the consent of a
special meeting of the branch called for the purpose, may
purchase or take on lease in the names of the trustees any
land in the county where the branch is established (b), anil
may sell, exchange, mortgage, lease or build upon the same
(with power to alter and pull down buildings and again
rebuild), and no purchaser, assignee, mortgagee, or tenant
shall be bound to enquire as to the authority for any sale,
exchange, mortgage, or lease by the trustees, and the
[(a) Any other securities upon which it is proposed the funds
should he invested should here be specified.]
(Jj) If the extent or value of the land is to he limited add here
“ not exceeding acres” (stating quantity) or “ not exceed
ing in value l.” (stating value.)