MODEL  BRANCH  RULES.

253

XII.—Valuations.
1.  Once  at  least  in  the  five  years  next  following  tlie
'date  of  the  registry  of  the  branch,  and  so  again  within  six
calendar  months  after  the  expiration  of  every  five  years  (b)
succeeding  the  date  of  the  first  valuation  to  be  made  under
fhese  rules,  the  assets  and  liabilities  of  the  branch  (including ­
  the  estimated  risks  and  contributions)  shall  be  valued
in  manner  provided  by  the  Friendly  Societies  Act,  1875,
*•  14(1/).
2.  It  shall  be  the  duty  of  any  valuer  appointed  by  the
branch  at  the  cost  of  the  branch,  to  make  a  report  to  be
signed  by  him,  and  which  shall  also  state  his  address  and
calling  or  profession,  on  the  condition  of  the  branch,  and
also  an  abstract  of  the  results  of  his  valuation,  in  the  form
prescribed  by  the  Chief  Registrar.
3.  On  receiving  such  report  it  shall  be  the  duty  of  the
committee  of  management  to  call  forthwith  a  special  meeting ­
  of  the  branch  for  the  purpose  of  receiving  the  same,  and
to  lay  such  report  and  the  abstract  of  the  results  of  valuation ­
  before  such  meeting  ;  and  to  cause  the  secretary  to
forward  such  report  and  abstract  to  the  Registrar,  together
with  a  return  containing  such  information  with  respect  to
the  benefits  assured  and  contributions  receivable  by  the
branch,  and  to  its  funds  and  effects,  debts  and  credits,  as  the
Registrar  may  from  time  to  time  require.

XIII.—Inspection  of  Books,  dec.
1.  The  books  and  accounts  of  the  branch  shall  be  open  to
the  inspection  of  any  member  or  person  having  an  interest
in  the  funds  of  the  branch  at  all  reasonable  hours,  at  the
place  where  the  branch  is  established,  or  at  any  place  where
the  same  are  kept,  and  it  shall  be  the  duty  of  the  secretary
to  produce  them.
2.  It  shall  be  the  duty  of  the  committee  of  management
to  keep  a  copy  of  the  last  annual  balance  sheet  of  the  branch
for  the  time  being,  together  with  the  report  of  the  auditors,
if  any,  and  of  the  last  quinquennial  valuation  for  the  time
being,  always  hung  up  in  a  conspicuous  place  at  the  office
■  of  the  branch.

(b)  If  the  branch  has  had  rules  previously  registered,  substitute, ­
  for  the  first  three  lines  of  the  rule  the  words  “  once  at  least
in  every  five  years.’'