﻿RULES OP SOUTH METROPOLITAN GAS CO.

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for Winter men) shall become the absolute property of the employee. One-
half shall be separately entered in his Pass Book and invested in the Com-
pany’s Ordinary Stock, either in his own name or on his behalf in the names
of the three Trustees, and the other half shall be entered in his Pass Book
to accumulate at interest, but under special circumstances, it may be allowed
to be withdrawn upon giving not less than seven days’ notice upon a form
provided for the purpose. The whole of the Bonus, however, may be placed
direct to the Trust Account if any employee notifies the Pay Clerk or the
Co-partnership Secretary that such is his desire. Under no circumstances
whatever, except fraud, shall the declared Bonus or any part or any accu-
mulations thereof, whether in the hands of the Trustees or in the name of
the employee, be forfeited.

6.	Winter men under signed Agreement shall be entitled to the full
Bonus, provided they return in the following Winter, and leave the with-
drawable half on deposit with the Company. If, however, they choose to
take the withdrawable half in cash, they are perfectly at liberty to do so,
but in that case they will not be entitled to the other half. Should the
Bonus at any time amount to 10 per cent., the maximum payable to Winter
men who take payment in cash, viz., 5 per cent., will be reached. Winter
men who leave their Bonus with the Company and who do not return the
following season can, on application to the Secretary, obtain payment of
the withdrawable portion to which they were entitled when leaving, plus
the usual interest.

7.	The Committee shall appoint three Trustees, one Director, one Officer,
and one Co-partner Workman, in whose names the half Bonus and any
interest, savings, or transferred amounts added thereto shall be invested
annually in the Company’s Ordinary Stock. If the amount so accumulated
by any employee be sufficient for the allotment of £10 or more of Stock,
the Trustees shall transfer such amount to him. In the event of leaving
the service of the Company or on the death of any depositor the Trustees
shall pay to him or to his representatives, in accordance with Rules 5
and 11, whatever money may be standing in his name in their hands, but
under no other circumstances shall any money be withdrawn from the
Trust Account.

8.	Interest at the rate of 3 per cent, per annum shall be allowed on all
amounts, excluding fractions of a pound, accumulated with the Company.
It shall be calculated up to June 30th in each year, but shall not be given
for an incomplete month.

9.	The Company will receive and add to his account such amounts as
any employee may deposit as savings, and on all such sums interest shall
be paid as per Rule 8.

10.	The Company will, on the application of any of their employees,
make arrangements for the transfer and investment of any sums to their
credit in the withdrawable account or any other money they may desire
to invest, into the Stock of the Company. Any employee selling Stock
purchased through Co-partnership, without the consent of the Secre-
tary of the Company, or pawning or pledging the same, will at once
cease to be a Co-partner, notwithstanding any Agreement he may
have signed. No Co-partnership system can endure unless it continues to
fulfil the objects for which it was founded; therefore those Co-partners
who do not endeavour to promote the welfare of the Company and of Co-
partnership, and who sell, pawn or pledge Stock or withdraw Bonus except
as allowed under special circumstances shall be struck off the list and not
be permitted to renew Agreements. They may, however, again become
qualified after the lapse of two years if during that period they have
taken an active interest in the prosperity of the business and have
deposited savings equal in amount to two weeks’ wages.

11.	Any Employee may, pursuant to the South Metropolitan Gas Act,
1896, nominate by writing in the prescribed form (which may be obtained
from the Secretary), any person or persons to be registered as owner of
and to transfer the whole or any part of the Stock of the Company
belonging to him, and to receive the whole or any part of the deposits