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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  expenditure, ­
  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  Industrial ­
  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  repayment ­
  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