Co-operative Housing Societies Act of 1958 (7 Eliz Ii No. 14) (Qld)

SOCIETIES. 7 E liz . II. No. 14, 1958. Co-operative Housing Societies Act. 477 SOCIETIES. An Act to Regulate the Formation, Registration 7|^zi4n- and Management of Co-operative Housing C o - operativb Societies and to Authorise the Execution AcsT°“fii8. by the Treasurer of Certain Guarantees relating to such Societies, and for other purposes. [A ssented to 28 th A pril , 1958.] E it enacted by the Queen’s Most Excellent Majesty, B by and with the advice and consent of the Legis­ lative Assemblyof Queensland in Parliament assembled, and by the authority of the same, as follows:— P art I. —P reliminary . P reliminary . 1. (1.) This Act may be cited as “ The Go-operative short title. Housing Societies Act of 1958.” *(2.) This Act shall come into operation on a date Com,mT°e‘ to be fixed by the Governor in Council by Proclamation men ° 0 ’ published in the Gazette, which date is hereinafter in this Act referred to as the commencement of this Act. (3.) Nothing in this Act shall be read and construed Construc- so as to limit the operation and effect of +“ The State lon' Housing Acts, 1945 to 1957,” The Workers' Homes Acts, 1919 to 1957,” §“ The Building Societies Acts, 1886 to 1956,” ||“ The Co-operative Societies Acts, 1946 to 1951,” ^|“ The Primary Producers' Co-operative Associations Acts, 1923 to 1934,” **“ The Commonwealth and State Housing Agreement Acts, 1945 to 1955,” ft” The Commonwealth and State Housing Agreement Act of 1956,” The State Advances Corporation Buildings* * * § ** * Commenced 19 June 1958 (Proc. pubd. Gaz. 21 June 1958, p. 1574). f 9 G. 6 No. 24 and amending Acts. J 10 G. 5 No. 7 and amending Acts. § 50 V. No. 34 and amending Acts. j| 10 G. 6 No. 50 and amending Act. If 14 G. 5 No. 45 and amending Acts. ** 10 G. 6 No. 6 and amending Act. ft 5 Eliz. 2 No. 25. U 23 G. 5 No. 19.

478 P art I.— P reliminary . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, Improvement Act of 1932,” *“ The State Housing Relief Acts, 1930 to 1934,” and f“ The Discharged Soldiers’ Settlement Acts, 1917 to 1957,” except that the provisions of sections twenty-two and twenty-three of %llThe Primary Producers’ Co-operative Associations Acts, 1923 to 1934,” shall not apply to or in respect of a society formed and registered under this Act. PAScachrt.tesdualnedof as fol 2 lo . wTsh: i—s Act is divided into Parts and a Schedule P art I. —P reliminary ; P art II. —O bjects and P owers of S ocieties ; P art III. —F ormation and R egistration of S ocieties ; P art IV. —M embers , S hares and F unds ; P art V. —D uties , M anagement and R ules ; P art VI. —A dministration ; P art VII. —G uarantees and P rivileges ; P art VIII. —E vidence , R egulations ; O ffences and S chedule .—S ocieties B rought U nder T his A ct . CbSroeocruiteagtihinets Co-op 3 e . ra (1 ti * v ) e E S a o c c h ietie s s oc A ie c t t y s, 1re9g46iste to red195u1n, ” demr en§t“io T n h ed e under this in the Schedule to this Act shall be deemed to have been Act. formed and registered under this Act as from the date of incorporation mentioned in respect thereof in the said Schedule and every such society shall within three months from the commencement of this Act make and apply to have registered such amendments, if any, of its rules as are in the opinion of the registrar necessary to bring the rules into conformity with the provisions of this Act applicable to societies formed and registered hereunder. Savings. (2.) Subject to subsection four of this section, all persons, instruments and circumstances appointed, executed or created under any other Act by the societies mentioned in the Schedule aforesaid, before the * 21 G. 5 No. 30 and amending Act. t 7 G. 5 No. 32 and amending Acts; { 14 G. 5 No. 45 and amending Acts. § 10 G. 6 No. 50 and amending Act.

1958. SOCIETIES. Co-operative Housing Societies Act. 479 P art I.— P reliminary . commencement of this Act, shall under and subject to this Act continue to have the same status, operation and effect as they respectively would have had if this Act had not come into operation. (3.) In particular and without limiting the generality of the preceding subsection any reference to *“ The Co-operative Societies Acts, 1946 to 1951,” in any deed, agreement, mortgage, security, certificate or rule executed, given or issued or subsisting or continuing in relation to the societies mentioned in the Schedule aforesaid shall be read and construed as a reference to this Act. (4.) Each of the societies mentioned in the Schedule ^r0fertm' aforesaid shall deliver to the registrar for cancellation Scorpora- the subsisting certificate of incorporation and he shalltion to issue- thereupon issue in lieu thereof a certificate of incorporation under and in accordance with the provisions of this Act. 4. In this Act unless the context otherwise indicates interpreta- or requires, the following terms shall have the meanings tl0U‘ respectively assigned to them, that is to say :— “ Approved dwelling-house ” means a dwelling- Approved house the conversion of which into flats or h^useT8 tenements has been approved by the Local Authority in whose Area it is situated and approved for such conversion by the registrar; “ Apcpornovs x terduc a tsi * otanndaanrdd j ” eqmui • epamnsen i ta asptparnodvaerdd boyf s A ta p n p d ro a v rd ed . the registrar; U Board ” means the board of directors of a Board, society ; U Co-operative housing society ” means a society co-operative of persons— housing society. (a) Which is formed for all or any of the objects referred to in section six of this Act; (b) Which has under its rules a share capital either divided into shares all of one class and ranking equally, or divided into two classes of shares designated as ordinary shares and borrowers’ shares with the * 10 G. 6 No. 50 and amending Act.

480 P art I.— P reliminary . Dwelling- house. First pay. General meeting. Land. SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, shares in each class ranking equally with the shares of the same class and each class of shares having such rights as are specified in the rules of the society ; and (c) Which under its rules is to terminate on a specified date or when a specified object is attained or a specified event occurs, but does not include any society in which the order of advances to members is determined solely or partly by the drawing of lots ; “ Dwelling-house ” means a structure for human habitation by a single family unit; “ First pay ” means the day fixed by the board of a society for the first regular payment of the subscriptions and charges which a member is required by the rules to pay in respect of his membership and on and from which day the payment of such subscriptions and charges by all members shall become due and payable ; “ General meeting ” means a meeting of which due notice has been given in accordance with the rules of the society, which may be attended by all members of the society and at which, subject to any restrictions imposed by this Act and the rules of the society, all members shall have a right of voting ; “ Land ” means any land held— (a) In fee-simple or other estate of freehold under a deed of grant or certificate of title under and subject to the provisions of *“ The Real Property Acts, 1861 to 1956 ” ; (b) Under lease in perpetuity, or under lease or in course of purchase where the lessee or purchaser has a right to acquire the fee-simple, under and subject to the provisions of f“ The Land Acts, 1910 to 1957,” $“ The State Housing Acts, 1945 to 1957,” or §“ The Workers'1 Homes Acts, 1919 to 1957 ” ; or * 25 V. No. 14 and amending Acts. f 1 G. 5 No. 15 and amending Acts. X 9 G. 6 No. 24 and amending Acts. § 10 G. 5 No. 7 and amending Acts.

1958. SOCIETIES. Co-operative Housing Societies Act. 481 P art I.— P reliminary . (c) Under Miners’ Homestead Lease or Miners’ Homestead Perpetual Lease under and subject to *“ The Miners’ Homestead Leases Acts, 1913 to 1957,” or as a residence area under and subject to f“ The Mining Acts, 1898 to 1955 ” ; “ Officer ”, in relation to a society includes Officer, director, secretary or other person empowered under the rules to act or give directions in regard to the business or affairs of a society ; “ Minister ” means the Treasurer and Minister for Minister. Housing or other Minister of the Crown for the time being administering this Act; “ Part ” means Part of this Act; Part- “Prescribed” means prescribed by this ActPrescribed- or by the regulations made under this Act or (where the case so requires) by the rules of a society; “ Registrar ” means the Registrar of Co-operative Registrar. Housing Societies appointed under this Act, and includes any person for the time being discharging the duties of the office of registrar; “ Rules ” means the rules of a society for the time Rules, being in force; “ Security ” means a mortgage (legal or equitable), Security, encumbrance, charge, lien, bond, debenture, debenture stock, floating charge, bill of sale, lien on wool, mortgage of livestock, lien on crops, or other written instrument duly issued or granted as or by way of security by or to a society ; “ Society ” means a co-operative housing society Society, formed and registered, or deemed to be formed and registered, under this Act; “ Special resolution ” means a resolution which is Special passed by a majority of not less than three- fourths of such members of a society for the time being entitled under the rules to vote as *4G. 5 No. 14 and amending Acts, f 62 V. No. 24 and amending Acts. Q

482 P art I.— P reliminary . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, have voted in person at a general meeting of which not less than twenty-one days’ notice, specifying the intention to propose the resolution as a special resolution, has been duly given according to the rules. P art II.— O bjects and P owers of S ocieties . P art II.—O bjects and P owers of S ocieties . hCsooocu- ioseiptnieegrsattiove carry5.on( 1. b)usAinecsos- oupnelersastivite ishofoursminegd Saoncdiertyegisshtearlel d, nootr abnedformed deemed to be formed and registered, under this Act. registered under this Act. aNopfopncle­icratatiinon to be( 2f. o)rmAendy asnodcieretygisfoterrmeded, uanndderretghiissteArecdt , shoarlldneeomt ebde other Acts. required to be registered or incorporated under *“ The Companies Acts, 1931 to 1955,” f” The Co-operative Societies Acts, 1946 to 1951,” or The Building Societies Acts, 1886 to 1956,” and, except as is expressly provided in this Act, none of the provisions of those Acts, or any of them, shall apply to societies formed and registered, or deemed to be formed and registered, under this Act. Objects of a society. 6. (1.) A co-operative housing society may be formed and registered under this Act for all or any of the following objects :— (a) To enable a member who is the holder of shares entitling him to borrow from the society— (i.) To acquire land and to erect a dwelling-house thereon ; or (ii.) To erect a dwelling-house on land whereof he is the owner ; or (iii.) To acquire land upon which is situated a dwelling-house which has been erected within the period of twelve months preceding the date of acquirement and which has not been occupied ; or (iv.) To convert an approved dwelling-house into flats or tenements of an approved standard; * 22 G. 5 No. 53 and amending Acts, f 10 G. 6 No. 50 and amending Act. % 50 V. No. 34 and amending Acts.

SOCIETIES. 483 ------------------------------------------------------------------------------------------------------------------------------------------ P art II. — 1958. Go-operative Housing Societies Act. ______________________ _ ' powers A of ______ S ocieties . (b) For all or any of those purposes to make advances to its members upon the security of land, including improvements thereon; and (c) To do all such other things as in the opinion of the registrar are calculated to promote the economic interests of the members of the society in relation to the objects specified in paragraph (a) of this subsection. (2.) In this section— (a) “Acquire” includes the completion of a purchase under an existing contract of sale but does not include the payment of money in order to discharge an existing mortgage or similar security ; (b) “ Erect ” includes complete the erection of a dwelling-house whereof the foundations, footings, framework or any other portion had already been constructed or commenced, and the adding of one or more rooms or other permanent improvements to a dwelling-house in respect of which an advance had previously been made by the society in question ; and (c) In the case of land held from the Crown for a lesser estate than freehold, “ owner ” includes the person so holding that land. 7. A society may, subject to this Act and its rules, Power of raise money on loan for the objects of the society. raisemoney - on loan. P art III.—F ormation and R egistration of S ocieties . P art III.— F ormation and R egistration op S ocieties . 8. (1.) A society shall be formed with limited Liability- liability. (2.) A society may be formed by any twelve or more Formation persons who are not under the age of twenty-one years society, and who are eligible under this Act and the rules as later approved and registered to be members of the society. (3.) A society shall not be registered unless there has been a meeting at which there have been present twelve or more such persons.

484 SOCIETIES. P art III.— F ormation and R egistration of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, (4.) At the meeting there shall he presented— (a) A written statement showing the objects of the society, the ways and means by which the society is to be financed, and the reasons for believing that, when registered, the society will be able to carry out its objects successfully ; and (b) The rules which it is proposed to tender for registration, and, after a date, time and place have been fixed for the adjourned meeting, the meeting shall be adjourned for not less than three nor more than six weeks. (5.) Notice of the date, time and place fixed for the adjourned meeting and of the purpose of the adjourned meeting shall be given by advertisement published in a newspaper circulating in the locality in which it is proposed to form the society at least two weeks before the date fixed for the adjourned meeting. (6.) If, at the adjourned meeting, after consideration of the statement and rules, twelve or more such persons as aforesaid approve the rules with or without amendment and sign an application for membership, they shall proceed to elect the first directors of the society in accordance with the rules so approved: Provided that if the proposed rules provide for both ordinary shares and borrowers’ shares, not more than seven of the aforesaid persons who sign applications for membership shall do so as applicants for ordinary shares. Rofeagisstorcaiteitoyn. direc9to.rs( 1. a)nWapitphliincattiwono smhaollntbhes maaftdeer inthteheelpercetsiocnribeodf manner to the registrar for the registration of the society and such application shall be accompanied by— (a) A statutory declaration or statutory declarations by the persons who acted as chairman and secretary of the meeting as to the compliance with the requirements of section eight of this Act; (b) A copy of the statement presented to the meeting for the formation of the society, signed by the persons who acted as the chairman and secretary of the meeting;

1958. SOCIETIES. '485 Co-operative Housing Societies Act. P art III.— F ormation and R egistration of S ocieties . (c) Four copies of the proposed rules signed by not less than twelve applicants for membership each of whom is not under the age of twenty- one years and each of whose signatures shall be attested by a witness ; (d) A list containing the full name and the occupation and address of each person elected a director ; ( e ) A list containing the full name and the occupation and address of each applicant for membership and the number and class of shares applied for by each such applicant; and (/) Such other particulars as are prescribed. (2.) The statutory declaration or statutory declarations mentioned in subsection one of this section may be accepted by the registrar as sufficient evidence of compliance with the requirements of section eight of this Act. (3.) Where before the expiration of the period of two months referred to in subsection one of this section a request in writing for the extension of that period is lodged with the registrar and the registrar is satisfied that circumstances beyond the control of the society have precluded and will preclude the making of the application for registration within the said period of two months, the registrar may if he thinks fit, by writing, extend the period for the making of the application by such further period (not exceeding one month) as he thinks proper, and in any such case the making of the application within such further period shall be deemed and taken to be in compliance with the provisions of this Act. (4.) If the registrar is satisfied that the society has complied with the provisions of this Act, that the proposed rules of the society are in conformity with this Act and are suitable and sufficient for the purposes of the society, and do not impose any unreasonable or inequitable condition affecting the rights of members or any inequitable provision relating to the settlement of disputes, and that there are reasonable grounds for believing that the society will be able to carry out its objects successfully, the registrar may register the

486 SOCIETIES. P art III.— F ormation and R egistration of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, society and its rules and issue a certificate in the prescribed form to the effect that the society is incorporated under this Act. (5.) If the registrar is not satisfied that the society has complied with the provisions of this Act, or is of opinion that the rules of the society are not in conformity with this Act or are unsuitable or insufficient for the purposes of the society, or impose any unreasonable or inequitable condition, affecting the rights of members, or any inequitable provision relating to the settlement of disputes, or has reasonable grounds for believing that the society will be unable to carry out its objects successfully, he shall refuse to register the society. If the registrar refuses to register the society, the applicants for registration shall have a right of appeal to the Minister who may uphold the decision of the registrar or may direct the registrar to register the society and its rules and issue a certificate in the prescribed form to the effect that the society is incorporated under this Act. The determination by the Minister shall be final and shall not be reviewed, quashed or called in question in any proceeding whatsoever. (6.) The expenses of and incidental to the formation of the society may be paid either out of capital or out of income. Certificate of 10. A certificate of incorporation under this Act itniocnorpora­ shall be conclusive evidence that all the requirements conclusive of this Act in respect of registration and matters precedent evidence. or incidental thereto have been complied with. From the date of incorporation mentioned in the certificate of incorporation the society shall be a body corporate by the name under which it is registered, with perpetual succession and a common seal, and shall be capable in law of suing and being sued in its corporate name and of acquiring, holding, leasing and disposing of property, real and personal, movable and immovable and of doing and suffering all such other things as are necessary for the purposes of its constitution. Nsoacmieteiseso.f name11id.en( 1ti. c) aAl wsiothciethtyat mbayywnhoicth bae sorecgieitsyterisedalrbeyadya registered or so nearly resembling that name, or the

SOCIETIES. 487 1958. Co-operative Housing Societies Act. P art III.— F ormation and R egistration op S ocieties . name by which any body or association of persons is registered under any other Act or law of this State, as in the opinion of the registrar is calculated to deceive or is likely to mislead the public as to the identity of the society or the nature of its business : Provided that a society having the same registered office as a society or societies already registered may with the consent in writing of the board or boards of the society or societies already registered adopt the same or a similar name distinguished by a serial number. (2.) A society shall not be registered by a name which includes any of the following words, namely :— “ Royal ”, “ King ”, “ Queen ”, “ Crown ”, “ Imperial ”, “ Empire ”, “ Commonwealth ”, “ State ”, or “ Municipal ”, or any word in the opinion of the registrar signifying Royal or Government support or patronage, or any word or matter in the opinion of the registrar used in such a manner as would imply, or be likely to imply, that the society is or would be wholly or partly authorised or supported by or connected with any of Her Majesty’s dominions, unless consent has been given to the use of such name by the Governor in Council or by Royal Charter. (3.) The name of a society shall include the words “ co-operative housing society ” as part of the name and the word “ limited ” as the last word of the name. (4.) If a society through inadvertence or otherwise is registered by a name identical with that by which a society is already registered, or so nearly resembling that name or the name by which any body or association of persons is registered under any other Act or law of this State as in the opinion of the registrar to be calculated to deceive, or to be likely to mislead the public as to the identity of the society or the nature of its business, or which is prohibited by subsection two of this section the society shall, if the registrar so directs, change its name. (5.) A society may change its name by special resolution, provided that the new name does not contravene any provision of subsection two of this section and is not identical with that of any society previously registered and still subsisting, or so nearly resembling that name or the name by which any body or association of persons is registered under any other Act or law of

488 SOCIETIES. P art III.— F ormation and R egistration of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, this State as in the opinion of the registrar to be calculated to deceive, or to be likely to mislead the public as to the identity of the society or the nature of its business, unless the subsisting society or body or association of persons is in course of being wound up and consents in writing to the registration or unless the proviso to subsection one of this section applies in the case. (6.) Notice in writing of any change of name, together with the certificate of incorporation, shall be sent to the registrar within such time after the passing of the special resolution as is prescribed. (7.) The registrar shall register the change of name and shall cancel the former certificate and issue a new certificate of incorporation in the prescribed form. (8.) The change of name shall be advertised as prescribed. (9.) The change of name shall not affect the identity of the society or any right or obligation of the society or of any member or other person, or render defective any legal proceedings by or against the society. (10.) Any legal proceedings that might have been continued or commenced by or against the society by its former name may be continued or commenced by or against it by its new name. (11.) Any reference in any share certificate, security, agreement, contract, deed or other document, instrument, or writing whatsoever to the society by its former name shall, on and from the date on which the new certificate of incorporation is issued, be read as a reference to the society by its new name. Fees for 12. (1.) No fee shall be chargeable for the roefgaisstroactiieotny. registration of a society or of its rules where the society adopts as its rules the prescribed model rules, or for any amendment of the rules made in consequence of any alteration of those model rules. (2.) A society which lodges for registration rules which are not in conformity with the context or arrangement of the model rules or applies for the registration of an amendment of rules other than in consequence of an alteration of the model rules shall pay with the application for such registration the prescribed fees.

SOCIETIES. 489 1958. Co-operative Housing Societies Act. ' " " P art IV. —M embers , S hares and F unds . PABt IV — M embers , S hivensmand 13. (1.) The members of a society which is formed Members of under this Act shall be the persons who sign thesocieties- application for membership on the formation of the society, and any other persons who are admitted to membership in accordance with this Act and the rules of the society. (2.) Unless otherwise provided by the rules, any person who is of the age of eighteen years and over shall subject to this Act be eligible to be a member of a society, but a person who is under the age of twenty-one years shall not be competent to vote at the meeting for the formation of the society or to be elected or appointed an officer of the society, or to hold ordinary shares. (3.) A person under the age of twenty-one years who is a member of a society may execute all instruments and give all necessary acquittances (which instruments and acquittances shall be binding and sufficient in law for all purposes): Provided that the application for membership of a society made at the adjourned meeting referred to in section eight of this Act shall not be signed by any person under the age of twenty-one years unless and until that application shall have been signed by not less than twelve persons who are not under that age. (4.) A member of a society shall not at any time be entitled on any ground relating to his infancy or former infancy to avoid any of his obligations or liabilities as a member of the society or under any security given by him to the society. *” (5.) A person shall not at any one time be a member of more than one society unless— (a) Before becoming a member of a society (other than the one of which he is first a member) he obtains the consent in writing of the registrar ; and ( b) All societies of which he is a member have the same registered office : Provided that in the case of a person lawfully a member of more than one of the societies mentioned in the Schedule to this Act before the commencement of this Act nothing in this subsection shall be deemed— (a) To require any consent of the registrar to his membership of any of those societies ; or

490 SOCIETIES. P art IV.— s S ss ^ ajs ' d Co-operative Housing Societies Act. 7 E liz . II. No. 14, PVNDS._______________________________________________________________________________________________________________________ (b) To render his membership of any such society unlawful: Provided further that nothing in this subsection shall apply to or in respect of any person becoming or being registered as the holder of shares in any society as executor or administrator of a deceased member. (6.) No rights of membership shall be exercised by any member until he has made such payment to the society in respect of membership or acquired such share or interest as is provided in the rules of the society in that behalf. Ceasing (7.) A person shall cease to be a member of a society membership. ^ any 0f ^e following circumstances, that is to say :— (a) Where his shares are transferred to another person in accordance with the rules of the society and the transferee is registered as holder in his place ; (b) Where his shares are forfeited in accordance with the rules of the society ; (c) Where his shares are sold by the society under a power conferred by the rules of the society and the purchaser is registered as holder in his place ; (d) Where he becomes bankrupt or insolvent under any law relating to bankruptcy or insolvency and the official receiver or assignee disclaims in accordance with the provisions of such law; (e) On death : Provided that the estate of the deceased person shall remain liable and his executor or administrator shall be and may be registered as the holder of the shares as such executor or administrator (whether eligible to be a member of the society or not) until some eligible person is registered as the holder of the shares by transfer from the executor or administrator or until the shares are withdrawn or discharged in accordance with this Act and the rules of the society, and while any such executor or

SOCIETIES. 491 — P art IV.— 1958. Co-operative Housing Societies Act. shamss ' and ______________ __________ _______________________________ _____________________________________ _ F unds . administrator is so registered he shall be deemed to be and shall have the rights and obligations of a member of the society for all purposes other than voting at meetings of the society and becoming a director thereof; (/) Where the contract of membership is rescinded by order of the Supreme Court or a judge thereof on the grounds of misrepresentation or mistake ; {g) Where he ceases to be a member in accordance with the rules of the society ; (h) Where the value of his shares is repaid or a refund in respect of his subscriptions is made to him in accordance with the rules of the society. (8.) Where shares are held by the executor or administrator of a deceased member, the board may in its discretion by notice in writing to the executor or administrator call upon him to transfer the shares to an eligible person or to withdraw or discharge the shares within six months after receipt of the notice or within such further time as the board may in any particular case allow, and unless the shares are so transferred, withdrawn or discharged they may at the discretion of the board be forfeited and dealt with as forfeited shares in accordance with this Act and the rules of the society. 14. (1.) Every member shall be liable to the Liability of society for the amount unpaid on the shares held bymemberfi- him, together with any charges and other moneys payable by him to the society as prescribed by this Act or the rules of the society. (2.) Where a member to whom an advance has been Liability of made has with the sanction of the society taken out™^^®™ with some insurance or assurance company or society pertain approved for this purpose by the registrar (in this section called “ the approved insurer ”) a policy of insurance to provide for the payment to the society by the approved insurer, in the event of the death of the member, of a sum of money for or towards the discharge of the member’s mortgage debt to the society, then the society shall be empowered to receive

402 SOCIETIES P art IV.— sha SSI^ and Co-operative Housing Societies Act. 7 E liz . II. No. 14, 'PtTNDS.'_____________________________ _________________________________________________________ from the member the premiums payable by him in respect of that policy and to pay them to the approved insurer and, if the member defaults in payment of any such premium, to make payment thereof to the approved insurer on the member’s behalf and to recover the amount thereof from the member, and any amount so paid by the society on behalf of a member shall be a debt due from the member to the society and the provisions of this Act shall apply in relation thereto accordingly. A society may make, either by itself or in conjunction with any other society or societies, any contract or arrangement relating to the exercise of its powers under this section and may carry such contract or arrangement into effect. Capital. 15. (1.) The capital of a society shall vary in amount according to the nominal value of shares from time to time subscribed. (2.) The capital shall be divided into shares of a fixed amount or amounts which shall be specified in the rules. Where the shares are all of one class, they shall rank equally. Where shares are classified as ordinary shares and borrowers’ shares, the shares of each class shall rank equally with the shares of the same class and each class of shares shall have such rights as are specified in the rules of the society. (3.) In every society the rules shall provide that an advance may be made to a member only on condition that such member subscribes for shares of a nominal value equivalent to the amount of the advance. (4.) Any balance unpaid in respect of shares at the time of allotment shall be paid by periodic subscriptions as provided in the rules (5.) No member shall hold more than such number or proportion of the shares in a society as is prescribed by the rules. (6.) A member shall subscribe for such minimum number of shares as is prescribed by the rules.

SOCIETIES. 493 ----------. ■ 1 “ ........... ' ‘ P art IV.— 1958. Co-operative Sousing Societies Act. sh S s E and ______________________________ ___ ________________________________________________________ PlTNDS. (7.) A share may be held by two or more persons jointly, and, in such case, notices for the purposes of the society may be given to the joint holder whose name appears first on the register of shares in respect of the share. (8.) A share may not be sold or transferred without the consent of the board. (9.) Where the shares of a proposed society are classified as ordinary shares and borrowers’ shares, not more than seven members shall be holders of ordinary shares at any one and the same time and the aggregate number of the ordinary shares held by all holders thereof at any one and the same time shall not exceed fourteen, unless the registrar permits in writing a greater number of ordinary shareholders than seven or the holding of a greater aggregate number of ordinary shares than fourteen; but the registrar shall not permit at any one time a number of ordinary shareholders exceeding ten or a greater aggregate number of ordinary shares than twenty. 16. A society may cancel any share purchased by Cancellation or forfeited to the society in accordance with the rulesofshares- of the society. 17. A society shall have a charge upon the share or charge on interest in the capital of a member or past member inshares> &c* respect of any debt due from the member or past member to the society, and may set off any sum credited or payable to a member or past member in or towards payment of the debt. 18. Notwithstanding anything in the rules, where a Payment of member of a society to whom an advance has not been Advanced made dies and upon the withdrawal of his shares there is shares of payable by the society a sum not exceeding two hundred pounds, then the society may— (a) After the expiration of two months from the death of the said member if probate or letters of administration have not been produced to the secretary and notice in writing of intention to apply therefor has not been received by the secretary ; or

494 P art IV.— M embers , S hares and F unds . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, ( b) After the expiration of three months from the death of the said member if such notice of intention to apply has been received by the secretary within the period of two months from the death but probate or letters of administration have not been produced to the secretary, pay the said sum to the person or persons appearing to the board to be entitled thereto according to law as on the intestacy of the deceased member, and any such payment shall be valid and effectual with respect to any demand against the society or the board by any other persons as the said member’s next of kin, legatees or personal representatives, but such next of kin, legatees or personal representatives shall nevertheless have the right to recover the whole or any portion of any such sum so paid from the person or persons who have received the same from the society. P art V.— D uties , M anagement and R ules of S ocieties . P art V.—D uties , M anagement S ocieties . and R ules of Registered 19. (1.) Every society shall have a registered office. office, the address of which shall be notified to the registrar when application is made for the registration of the society. Any change in the address of the registered office shall be notified in the prescribed manner to the registrar within fourteen days after such change has occurred. Publication of name of society. (2.) Every society shall— (a) Paint or affix, and keep painted or affixed, its registered name on the outside of every office or place in which the business of the society is carried on, in a conspicuous position in letters easily legible ; (b) Have its registered name engraven in legible characters on its seal; and (c) Have its registered name mentioned in legible characters in all notices, advertisements, and other official publications of the society, and in all bills of exchange, promissory notes, endorsements, cheques, and orders for money

1958. SOCIETIES. 495 Co-operative Housing Societies Act. xPaa r x t Vv .——• D uties , M anagement and R ules of S ocieties . or goods, purporting to be signed by or on behalf of such society and in all bills of parcels, invoices, receipts and other documents used in the business of the society. (3.) Any document may be served on a society by®®™^°*g leaving it at the registered office of the society with some onwSy! person apparently in the service or employment of the society or by sending it by prepaid registered post or certified mail addressed to the society at its registered office. accou2n0ts. a( 1s.) arAe psreosccireitbyeds. hall keep such registers and aa R nc e cd | o i u st n e t r s s . (2.) The registers shall include the following, that is to say :— (a) A register of the directors, members and shares ; ( b) A register of any loans raised and securities given by the society ; and (c) A register of any advances made and securities taken by the society. (3.) The registers shall be kept in such manner and shall contain such particulars as are prescribed. (4.) No notice of any trust, express, implied or constructive, shall be entered in any register or be received by the society. 21. A society shall have at its office and open inspection of at all reasonable hours to inspection by any memberreglsters’&0’ or creditor without fee— (а) A copy of this Act and the regulations; (б) A copy of the rules of the society; (c) A copy of the last audited balance-sheet and final accounts, together with the report of the auditor ; (d) The prescribed register of directors, members and shares; and (e) The prescribed register of loans raised and securities given by the society.

496 SOCIETIES. P art V — D uties , M anagement and R ules of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, Returns. 22. (1.) A society shall, within fourteen days after any change in the membership of the board, lodge with, or send by prepaid registered post or certified mail to, the registrar information of the change. (2.) A society shall in each year, within three months after the close of its financial year or within such further time as the registrar may authorise, lodge with, or send by prepaid registered post or certified mail to, the registrar the following returns, that is to say :— (a) A list of the directors for the year then current; (b) Statements certified by the auditor of the profit and loss and reserve accounts and balance-sheet of the society for and at the close of that financial year ; (c) A signed copy of the report or reports of the auditor of the society for that financial year ; and ( d) Such other returns as are prescribed. (3.) Any reference any where in this Act to the “ final accounts ” of a society shall refer to the statements specified in paragraph ( b) of subsection two of this section last certified by the auditor. (4.) A society shall, when so required by notice in writing by the registrar, furnish to the registrar within the time specified in that behalf in the notice a full list in the prescribed form of all of its members as at the end of the financial year then last past or such other particulars as are specified in the notice with respect to the membership of the society. Raising loans. 23. (1.) With the approval of the registrar a society may raise money on loan in such manner as it thinks fit, and in particular, without limiting the generality of the foregoing, by legal or equitable mortgage charged upon the undertaking of the society or upon all or any part of the property and rights (both present and future) of the society, including its unpaid capital, subscriptions, payments in respect of advances and other moneys. (2.) A society shall not be authorised to receive money on deposit.

SOCIETIES. 497 : - pART y --. 1958. Co-operative Housing Societies Act. mana SSW ___________________________________________________________________________________________ _ and R ules of S ocieties . (3.) A society shall not raise money on loan so that it has on loan at any time an aggregate amount exceeding one hundred pounds unless a higher aggregate amount has been approved by special resolution of the society. (4.) Except as may be provided in any agreement made in relation to a guarantee executed by the Treasurer of Queensland under this Act, no person lending money to a society shall be bound to see to the application thereof or be in any way affected or prejudiced by the fact that such society in borrowing such money has contravened the provisions of this or any other section of this Act or the rules of the society. (5.) Where the Treasurer of Queensland pursuant As to loans to Part VII. of this Act executes a guarantee in favour of any bank, friendly society or approved body guaranteeing societies, &c. the repayment of any loan to be made by such bank, friendly society or approved body to any society registered under this Act, then notwithstanding anything to the contrary in any Act or in any memorandum or articles of association or rules, such bank, friendly society or approved body shall be deemed to be empowered to make such loan out of any funds held by it which it is authorised to invest and in respect of which investment on loan as aforesaid is not specifically prohibited by the terms of any trust governing such funds. 24. (1.) In this section the expression “ security ” inter­ does not include a mortgage so far as it includes land, Pretatl0n- whether subject to *“ The Real Property Acts, 1861 to 1956,” or not, or so far as it includes any tenure or interest in land under and subject to the laws in force relating to the occupation or leasing of Crown lands or to mines or mining. (2.) Any security given by a society for any money Registration raised on loan by it under the powers conferred by this o?v^^"tl0S Act may within thirty days after its execution be societies, registered by filing in the office of the registrar a true copy thereof verified by statutory declaration. (3.) The registrar shall cause to be entered in a register to be kept by him for the purpose short particulars (including the names of the parties and the consideration) of every copy security so filed with him with a memorandum of the date, hour and time at which each * 25 V. No. 14 and amending Acts. #

498 SOCIETIES. P art Y.— D uties , M anagement and R ules of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, of them is so filed, and that date, hour and time shall in the case of each security be the date, hour and time of registration. (4.) The registrar may at any time, upon evidence being given to his satisfaction that the debt for which any registered security was given has been paid or satisfied, or that a discharge of security as to the whole or any part of the subject property has been executed, cause a memorandum to that effect to be entered in the register. (5.) The register so kept and every copy security filed as aforesaid shall be open to inspection at the office of the registrar by any person on payment of the prescribed fee. As to priority of registered and un­ registered securities, &c. (6.) A security shall not, unless registered in accordance with this section, be of any validity as against any subsequent security duly registered in accordance with this section before the registration of such firstmentioned security except in the case of fraud ; and, except in the case of fraud, the priority of all securities duly registered in accordance with this section shall be determined by the order of registration and not of date, and shall not be affected by notice, actual or constructive, of any unregistered security or of any contract therefor, and the knowledge that any such security or contract is in existence shall not of itself be imputed as fraud; and every second or subsequent security shall, if duly registered in accordance with this section, become, upon such registration and upon satisfaction of all prior securities registered in accordance with this section, a first security. As to (7.) Where before the commencement of this Act roefgsiesctruartiitoiens any such security as aforesaid has been given by a already given. society and has not been wholly satisfied, and a true copy of the security has been filed in accordance with subsection two of this section within thirty days after the commencement of this Act, the security shall, except in the case of fraud, be deemed to have been registered as at the date of execution thereof, and the particulars and memorandum thereof shall be entered in the register accordingly, and the provisions of subsections four, five, six and eight of this section shall apply with respect to such security accordingly.

SOCIETIES. 499 --------------------------------------------------------- -------------- ------------------------------ ■-------------------• ■ P art V.— 1958. Co-operative Housing Societies Act. -------- -------------------------------- ------------------------------------------------------------- ... management and R ules of S ocieties . (8.) A judge of the Supreme Court, on being Power to satisfied that the omission to register a security within the time required by this section or the omission or Court to misstatement of any particular with respect to any such period for security or in any memorandum of satisfaction was registration, accidental or due to inadvertence or to some other&e- sufficient cause or is not of a nature to prejudice the position of creditors or members of the society or that on any other grounds it is just and equitable to grant relief, may on the application of the society or any person interested and on such terms and conditions as seems to the judge just and expedient order that the time for registration be extended or (as the case may be) that the omission or misstatement be rectified. 25. (1.) A society shall not make any advance As to to any person who is not a member of the society. societies? by (2.) A society shall not make any advance to a member of the society except for the purpose of enabling such member— (a) To acquire land and erect a dwelling-house thereon ; or (b) To erect a dwelling-house on land whereof he is the owner ; or (c) To acquire land upon which is situated a dwelling-house which has been erected within the period of twelve months preceding the date of acquirement and which has not been occupied ; or (cl) To convert an approved dwelling-house into flats or tenements of an approved standard. In this subsection the terms “ acquire,” “ erect ” and “ owner ” shall have the inclusive meanings assigned to them respectively by subsection two of section six of this Act. (3.) Save an advance made for the purpose specified in paragraph ( d) of subsection two of this section a society shall not make any advance to a member of the society unless and until the board is satisfied that— (a) The dwelling-house in respect of which the advance is made is intended to be used by the member as a home for himself and his dependents and for no other purpose ; and

500 P art V.— D uties * M anagement and R ules op S ocieties . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, (b) Neither the member nor the wife or husband (if any) of the member is the owner of any dwelling-house in Queensland or elsewhere. A member may require the board to refer to the registrar any question respecting ownership of a dwelling-house arising under this subsection and the determination made by the registrar shall be final and conclusive for the purposes of this subsection and shall not be called in question in any proceedings whatsoever. (4.) A society shall not make any advance to a member of the society who at the time the advance is made is a director or other officer of the society, unless the making of the advance has been first approved by a special resolution of the society. (5.) A society shall not make any advance to a member of the society unless and until that member has been allotted and accepted shares of a nominal value at least equivalent to the amount of the advance. (6.) A society shall not make any advance to a member of the society for a purpose specified in paragraph (a), or ( b ) or (c) of subsection two of this section unless the amount of the advance reduced by the paid up value of the share capital of the member does not exceed— (i.) In the case of an advance of two thousand seven hundred and fifty pounds or less— eighty per centum of the value of the land and the dwelling-house erected or to be erected thereon ; or (ii.) In the case of an advance of more than two thousand seven hundred and fifty pounds— seventy per centum of the value of the land and the dwelling-house erected or to be erected thereon. The sum of two thousand seven hundred and fifty pounds and the amounts per centum mentioned in this subsection, or any of them, may be altered from time to time by the Governor in Council by Order in Council, and this subsection shall during the continuance in force of any such Order in Council apply subject thereto.

SOCIETIES. 501 ............................ . 1958. Co-operative Homing Societies Act. .......... part V.— management and R ules - 0F S0CI]BTIEg (7.) A society shall not make any advance to a member of the society for a purpose specified in paragraph (a), or (6) or (c) of subsection two of this section, in excess of an amount of three thousand five hundred pounds or such other amount as is specified for the time being by the Governor in Council by Order in Council. (8.) A society shall not make any advance to a member for the purpose specified in paragraph (d) of subsection two of this section— (a) In excess of five thousand pounds; or ( b ) The amount whereof reduced by the paid up value of the share capital of the member is in excess of sixty per centum of the value of the land and of the dwelling-house thereon when converted into flats or tenements. The sum of five thousand pounds and amount of sixty per centum mentioned in this subsection, or either of them, may be altered from time to time by the Governor in Council by Order in Council, and this subsection shall during the continuance in force of any such Order in Council apply subject thereto. (9.) A society shall not make any advance to a member of the society except upon terms requiring him to repay the advance together with interest thereon within a period not exceeding thirty-one years from the date of the first pay or within such other period as the Minister at his discretion may determine. (10.) Notwithstanding any provision of this section, the society may make an advance to a member of the society of— (a) Such amount; or (b) Such amount per centum of the value of the land and the dwelling-house erected or to be erected thereon or when converted into flats or tenements (as the case may be), as the Minister determines upon written application made to him by the society in the particular case. (11). A society shall not make any advance on the As to security of any property which is subject to a prior security, unless the prior security is in favour of the advances by society. societies.

502 SOCIETIES. P art V.— D uties , M anagement and P ules of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, (12.) Subject to subsection ten of this section, subsections six, seven, eight and nine of this section shall be limited in their application to advances made by a society while a guarantee under Part VII. of this Act in relation thereto is in force. Contracts 26. (1.) Contracts on behalf of a society may be by society. made, varied or discharged as provided in this section. (2.) Any contract which, if made between private persons, would be by law required to be in writing and under seal, may be made on behalf of the society in writing under the common seal of the society, and the contract may in the same manner be varied or discharged. (3.) Any contract which, if made between private persons, would be by law required to be in writing and signed by the party to be charged therewith, may be made on behalf of the society in writing, signed by any person acting under the express or implied authority of the society, and the contract may in the same manner be varied or discharged. (4.) Any contract which, if made between private persons, would by law be valid, although made by parol only and not reduced into writing, may be made by parol on behalf of the society by any person acting under the express or implied authority of the society, and the contract may in the same way be varied or discharged. (5.) Any contract made according to the provisions of this section shall be effectual in law and shall be binding upon the society and all other parties thereto. Special resolution. 27. (1.) At any general meeting of which notice specifying the intention to propose a special resolution has been duly given according to the rules, unless a poll is demanded, a declaration by the chairman that the resolution has been carried shall be conclusive evidence of the fact. (2.) A copy of the special resolution or, in the case of an amendment of the rules, two copies of the special resolution, signed by the chairman of the meeting and countersigned by the secretary, shall be lodged with, or

SOCIETIES. 503 -------------------------------------------------------------------------------------- PAKT y 1958. Co-operative Housing Societies Act. management and R ules of ---------------------------------------------------------------------------------------------------—-----------------------—---------- S ocieties . sent by prepaid registered post or certified mail to, the registrar within one month after the passing of the special resolution, and shall be registered by him and until the copy is so registered the special resolution shall not take effect. (3.) A certificate of registration of any special resolution or of any alteration of the rules of a society given by the registrar shall, in favour of any person lending money to the society on the faith of such certificate, or in favour of any guarantor of any such loan, be conclusive evidence that such resolution was duly passed or such alteration in the rules duly made (as the case may be). 28. No society shall make any advance to a member limited ^ upon the security of land situated more than twenty-five advances, miles from the address of its registered office without the prior approval of the registrar. Before giving any approval under this section, the registrar shall have regard to the capacity of the society to exercise supervision over building construction and maintenance of any building erected or to be erected on the land forming the security for the advance which the society proposes to make. 29. Any property to which a society may become Realisation absolutely entitled by foreclosure, surrender, or otherof property' extinguishment of the right of redemption shall as soon afterwards as may be conveniently practicable be sold or converted into money. 30. (1.) A society shall furnish to any person charges by a intending to become a member a list of the charges80Ciety' payable under the rules by a member to the society. (2.) A person who becomes a member of the society shall be liable to pay only the charges mentioned in the list and any charges which may be imposed by any subsequent registered alteration of the rules. (3.) Subject to this Act, the charges payable under the rules may be altered by special resolution. 31 . ( 1 .) Subject to this Act and the rules of the Board of society, the business and operations of a society shall be director8, managed and controlled by a board of directors.

504 SOCIETIES. P art V.—• D uties , M anagement and R ules op S ocieties . Co-operative Housing Societies Act. 7 Euz. II. No. 14, (2.) Every director acting in the business or operations of the society pursuant to the rules or to a resolution duly passed by the board shall be deemed to be the agent of the society for all purposes within the objects of the society. (3.) The acts of a director shall be valid notwithstanding any defect that may afterwards be discovered in his appointment or qualification. (4.) A director shall not be held liable to the society for any loss that the society may sustain, unless the loss was due to his misconduct or negligence or to his failure to comply with any of the provisions of this Act or of the rules of the society. (5.) The directors shall be elected at a general meeting of the society in accordance with the rules of the society : Provided that the first directors shall be elected at the meeting for the formation of the society. (6.) The number of directors shall not be less than five and no person shall be qualified to be a director unless he is a member of the society. (7.) Meetings of the board shall be held as often as may be necessary for properly conducting the business and operations of the society, but shall be held at least once in every two calendar months, and a quorum of a meeting of the board shall be prescribed by the rules of the society but shall not in any case be less than half the number of directors. (8.) The chairman of the board shall be elected by the board in accordance with the rules of the society, and shall hold office and retire, and may be removed from office, as prescribed by the rules of the society. (9.) The directors shall hold office and retire, and may be removed from office as prescribed by the rules of the society. (10.) The office of a director shall be vacated in such circumstances, if any, as may be prescribed by the rules of the society, and in any of the following circumstances, that is to say:— (a) If he becomes bankrupt or insolvent or assigns his estate for the benefit of or compounds with his creditors;

SOCIETIES 505 ------------------------------ .— ■—■-------- ------------ ■— ----------------------------------------------- - 1958. Co-operative Housing Societies Act . _____ ' P art V.— management and R ules of ■ S ocieties . (6) If he becomes mentally ill within the meaning of *“ The Mental Hygiene Act of 1938 ” ; (c) If he is convicted of any offence under this Act, or if he is convicted of any indictable offence or of any offence punishable on summary conviction for which he is sentenced to imprisonment otherwise than in default of payment of a fine ; ( d) If he absents himself from three consecutive ordinary meetings of the board without its leave ; (e) If he does not, within two months after any subscriptions and charges become due by him to the society on account of his membership, pay the same ; (/) If he ceases to be a member of the society ; (g) If by notice in writing to the board he resigns his office; (h) If he is removed from office by resolution of a general meeting of the society; or (i) If he has a direct or indirect pecuniary interest in any agreement with the society otherwise than as a member of, and in common with the other members of another company or corporate body consisting of more than twenty persons: Provided that the provisions of this paragraph shall not extend or apply to any advance made to a director by the society pursuant to a special resolution. (11.) A director shall not vote upon any question in which he has any direct or indirect pecuniary interest and if he votes, his vote shall not be counted. (12.) Any vacancy occurring on the board shall be filled as prescribed by the rules of the society. 32. A director or other officer of a society shall Ce1^ not, unless specifically authorised to do so by a special directors y resolution of the society— prohibited. (a) Sell any land to or act as agent for the sale of any land (whether or not a dwelling-house is situated thereon) to a member of the * 2 G. 6 No. 21.

506 P art V.— D uties , M anagement and R ules of S ocieties . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, society who proposes to pay for the same, in whole or in part, out of an advance made by the society; (b ) Undertake the erection or act as agent in respect of the erection of any dwelling-house for a member of the society who proposes to pay for the same, in whole or in part, out of an advance made by the society; or (c) Accept as payment in whole or in part of any moneys due to him by a member of the society the whole or part of any advance made by the society to such member. mATrpeenpatosuibnryte­ r of this 3 A 3 c . t ( s 1 h . a ) llThaipsplysecotinolyn taondandsecitnionresptheicrttyo- ffouevr eroyf aicnadsciereser.cttaoinr saotctiehtey dtoispwohsaiclhofadtvhaencSetsatheavanedbeeevnerymasdoeciefrtoymfofrunthdes repayment of any loan to which the Treasurer of Queensland has executed a guarantee under this Act. (2.) The Minister may, from time to time, by notification published in the Gazette, appoint a person to be a director of any society to which this section applies and may by the like notification remove any such director. (3.) The provisions of this Act (other than this section) and of the rules of the society relating to the qualification, disqualification, remuneration, removal from office, and term of office of directors and to the vacation of office by directors shall not apply to or in respect of a director appointed under this section. (4.) A director appointed under this section shall hold office as an additional director and shall not be counted in ascertaining the number of directors for the election of whom provision is made in the rules of the society. (5.) Subject to subsection three of this section, a director appointed under this section shall have all the powers, rights, authorities, functions, privileges, immunities, duties, obligations, and liabilities of a director elected in accordance with the rules of the society.

SOCIETIES. 507 -------------------------------------------------------------------------------------------------------------------------P art V.— 1958. ----- Co-operative Housing Societies Act. manaormnt and R ules of ---------------------------------------------------------------------------- ---------------------------- S ocieties . (6.) A director appointed under this section shall, unless he is an officer of the public service, be paid such fees as are prescribed by the regulations. 34. (1.) The Minister may appoint a person to hold an inquiry and to report to him with respect to— director ° (а) Any matter relating to the carrying out^”*^ of the provisions of this Act; or cases. (б) Any act or omission of any director or officer of a society where such act or omission relates to the carrying out of the provisions of this Act. (2.) The provisions of *“ The Commissions of Inquiry Acts, 1950 to 1954,” shall apply for the purposes of an inquiry under this section, and for the purpose of so applying those provisions the term “ Commission ” in those Acts shall be deemed to include the instrument of appointment of the person appointed to make the inquiry under this section and that person. (3.) The Minister may, after consideration of the report of the person holding an inquiry under this section, direct that the office or position in a society of the director or officer to whom the report relates shall be vacated, and that such director shall not be eligible to hold office as a director of that society, or (as the case may require) that such officer shall not be eligible for appointment or employment as an officer of that society. (4.) The office or position shall be deemed to have become vacant as from the date upon which notices of the direction of the Minister, addressed to the director or officer to whom the same relates and to the society of which he is a director or an officer, and signed by or on behalf of the Minister, are delivered at or posted to the registered office of the society. 35. (1.) If an advance is made to a director or other directors °f officer of a society except pursuant to a special resolution tor or an advance is made contrary to a decision of the advane°s!sed registrar, the members of the board who authorised the advance shall be jointly and severally liable for any loss occasioned to the society on account of such advance and any loss so occasioned may be recovered as a debt due to the society. * 15 G. 6 No. 2 and amending Act.

508 SOCIETIES. P art V.— D uties , M anagement and R ules of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, Directors’ (2.) A director or other officer may be paid such fees. fees as are fixed by a general meeting of the society but not exceeding in any case such maximum amounts as are prescribed by the regulations : Provided that a director shall not be paid any fee in respect of any financial year the final accounts wherefor show a loss. Surety of officer. (3.) Every officer having the receipt or charge of any money of the society shall give security as prescribed by the regulations for rendering a just and true account of all money received and paid by him for the society, and for payment of all money due from him to the society. Financial year. 36. (1.) The financial year of a society shall end at the conclusion of the last pay of the society before the thirty-first day of December in each year. (2.) The first financial year of a society shall be deemed to be from the date of registration of a society to the conclusion of the last pay of the society before the thirty-first day of December next following the date of registration. Auditor. Duties of auditor. 37. (1.) The accounts of a society shall be audited annually or more frequently as may be prescribed by the rules of the society. (2.) The auditor shall be a person registered as a public accountant under *“ The Public Accountants Registration Acts, 1946 to 1954,” or approved by the Public Accountants Registration Board, but an officer of the society shall not be capable of being appointed its auditor. (3.) The auditor shall have right of access to the books, accounts, vouchers and documents of the society, and may require from the directors and other officers such information and explanation as may be necessary for the performance of his duties as auditor. (4.) In making his report to the members of the society and in signing any statement of assets and liabilities or of accounts to be presented to the members or transmitted to the registrar, the auditor shall state— (a) Whether he has obtained the information and explanations required by him ; * 11 G. 6 No. 4 and amending Acts.

SOCIETIES. 509 1958. ‘ - - part V.— Co-operative Housing Societies Act. manaq S nt and R ules of S ocieties . ( b ) Whether in his opinion the statements are properly drawn up so as to exhibit a true and correct view of the financial position of the society according to the information at his disposal and explanation given to him and as shown by the books of the society ; and (c) Whether the provisions of this Act and the rules relating to the administration of the funds of the society have been observed. (5.) A copy of the balance-sheet and final accounts for the period covered by the audit, both duly audited, baiance- together with a copy of the auditor’s report to thesheet and members of the society, shall be transmitted to each toCben 8 member with the notice of the annual general meeting, published or, in the alternative, if the rules of the society so provide, members, the notice of the annual general meeting may include a notice that the balance-sheet and final accounts as aforesaid and the auditor’s report may be inspected by members at the office of the society for such period (not being less than fourteen clear days) before the meeting as may be prescribed by the rules. (6.) Any member may inspect his own account in the books of the society at any reasonable time on payment of a fee not exceeding two shillings. (7.) The Minister may at any time require andAuditor- authorise the Auditor-General to audit the accounts may of any society and, when so required and authorised, the accounts. Auditor-General shall have in respect of such accounts all the powers conferred on him by any law relating to the audit of the public accounts, and shall at the completion of any such audit report thereon to the Minister. 38. (1) No society shall make an advance to a Valuation member upon the security of land and a dwelling-house property°f erected or to be erected thereon unless a valuation of offered as that property in accordance with this section is first obtained by the board. advance. (2.) No valuer shall be employed by a society for Valuers to the purpose of making valuations of properties offered registrar! as securities for advances by the society to its members or valuations of the work done on such properties unless he has been approved of in writing by the registrar in

510 SOCIETIES, P art V.— D uties , M anagement and R ules op S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, that behalf and the society shall, if requested in writing so to do by the registrar, dismiss any valuer employed by the society for any such purpose and employ in his place another valuer approved of in writing by the registrar in that behalf. Valuers restricted, in certain cases. (3.) No valuer shall value any property offered as a security for an advance in which such valuer or the wife or husband or any relation by blood or marriage of such valuer is directly or indirectly interested except with the approval of the registrar. (4.) Any valuer who knowingly and wilfully— (a) Contravenes the provisions of the last preceding subsection ; or ( b ) Makes any false and fraudulent valuation, shall, without prejudice to proceedings for any other offence for which he may be liable, be guilty of an offence against this Act and liable to a penalty of not more than two hundred pounds. Valuer’s (5.) Every valuer’s report to the board on any creerptoifritedto. be property shall be verified in the prescribed manner and shall set forth full particulars with respect to the property and the manner in which the valuation is arrived at and such further particulars as are prescribed. (6.) If the board or the registrar is not satisfied with the accuracy of any valuation or of any of the particulars set forth in the valuer’s report, the board shall cause a further valuation or (where the case so requires) further valuations to be made, and where two or more valuations have been so made, the lower or lowest of such valuations shall be deemed the valuation for the purposes of the advance to be made by the society. Plan and specification (7.) In respect of a dwelling-house to be erected on to be any land offered as security for an advance by the sbuupilpdliinedg of society, the applicant member shall submit to the board to be a properly prepared building plan drawn to scale showing erected. details of the block and floor plan, front and side elevations and a section from front to back, together with a complete and sufficient building specification. Registrar to be notified (8.) No society shall make or agree to make any of proposed advance to any member until it has furnished to the advances. registrar particulars as he may require of the property

SOCIETIES. 511 . part V.— 1958. Co-operative Housing Societies Act. management and R ules of “ S ocieties . offered as security for the advance and of any dwelling- house erected or to be erected thereon or of any work to be done on any building erected thereon, and the registrar notifies the society in writing that the advance is approved by him : Provided that when the registrar disapproves the amount of an advance proposed to be made by a society in respect of a specified property but approves of an advance of a lesser amount, the society may make an advance up to the amount so approved by the registrar. (9.) If the registrar notifies a society that he Registrar disapproves an advance being made upon the security of any specified property or upon any property included advances, in any specified class or classes of property, the society , shall not make or agree to make any advance upon the | security of the property specified, or upon the security of any property included in the class or classes of property specified, by the registrar. (10.) The registrar and every valuer or inspector Registrar or other person appointed by the registrar to make a to have06™ valuation or inspection on his behalf, shall be afforded access to full and free access to any property (including a dwelling- properties<' house erected or in course of erection or any work in progress) upon the security of which a society has made or is making or intends or proposes to make an advance to a member and every person shall afford all facilities to the registrar, valuer, inspector or other person for the purpose of making such valuation or inspection. 39. (1.) A general meeting of the society shall be Annual and held once at least in every period of twelve months, within three months after the close of the society’s financial year (or within such further time as the registrar at his discretion may allow) and shall be called the annual general meeting. (2.) Special meetings of the society shall be held or may be called as prescribed by the rules of the society. (3.) At any meeting of the society no item of business shall be transacted unless a quorum of members entitled under the rules to vote is present during the time when the meeting is considering that item. The quorum shall be as prescribed by the rules of the society but shall not in any case be less than ten such members.

512 SOCIETIES. P art V.— D uties , M anagement and R ules of ^S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, Voting by members. 40. (1.) Except as is otherwise provided in this Act or by the rules of the society, every question for decision by a meeting of the society shall be determined by a majority of the members present in person thereat who are entitled under the rules to vote, and unless a poll is demanded by at least five such members the question shall be determined on a show of hands. (2.) Every member of a society entitled under the rules to vote shall, irrespective of the number of shares held by him, have one vote. (3.) The rules of a society shall not allow of voting by proxy. ; j Minutes of 41. (1.) Every society shall record in books kept meetings. for the purpose minutes of every meeting of members of the society, of the board, and of every committee appointed pursuant to the rules. (2.) The minutes of the business transacted at a meeting of a society, or of the board, or of any committee shall be confirmed and when signed by the chairman at a subsequent meeting, shall be primd facie evidence that the business as therein recorded was transacted at the meeting and that the meeting was duly convened and held. (3.) An entry in the minutes of a meeting of a society to the effect that a resolution was carried, or was lost, shall be primd facie evidence of the fact without proof of the number or proportion of votes recorded for or against the resolution. Rules of a society. 42. (1.) The rules of a society shall be divided into paragraphs numbered consecutively and shall set forth each and every matter which this Act requires to be contained therein. No rule nor any amendment of a rule shall have force or effect until registered and a certificate of such registration has been given by the registrar. (2.) The rules of a society shall set forth— (a) The name of the society; ( b ) Where the office of the society is to be situated ; (c) The objects of the society; (d) The nominal value of each share or of each class of shares in the society;

1958. SOCIETIES. 513 P art V.— . Co-operative Housing Societies Act m ^S oint and R ules of * S ocieties . (e) The maximum proportion of the shares or of each class of shares which may be held by a member; (/) The fixed date on which or the object or event on the attainment or occurrence of which the society is to terminate ; (g) The periodic subscriptions by which or the manner in which shares are to be paid for and the penalties for late payment; (h) The minimum number of shares or of each class of shares to be subscribed for by a member : (i) The manner in which shares may be transferred; (j) The manner in which the funds of the society are to be managed, and, in particular, the mode of drawing and signing cheques, drafts, bills of exchange, promissory notes and other documents for and on behalf of the society; (k) The manner in which an application for an advance is to be made, the conditions with which an applicant is to comply, the manner in which an advance is to be made and repaid, the conditions upon which a member may pay the amount due by him before the expiration of the period for which the advance is made, and the terms upon which a security may be redeemed; ( l ) The mode and conditions of admission to membership, and the payment to be made or the share or interest to be acquired before the exercise of the rights of membership ; (m) The rights and liabilities of members, and of the estates of deceased members and of members whose estates have been sequestrated or assigned; (n) Whether or not shares may be withdrawn, and if so, upon what terms ; (o) The manner in which the value of shares is to be ascertained for repayment; R

514 P aet V.— mana S ment and R ules of S ocieties . SOCIETIES. . Co-operative Housing Societies Act ' “ 7 E liz . II. No. 14, ~ (p) The circumstances in which members may be expelled, the rights and liabilities of expelled members, and provision for the forfeiture of shares and for the cancellation of forfeited shares; (q) The number of directors, the qualification of directors, and the manner of electing, remunerating and removing directors and filling a vacancy, whether directors are to be elected annually or half-yearly, the period for which directors are to hold office, and whether directors are to retire by rotation or otherwise; ( r) The powers and duties of the board and the quorum for meetings of the board; (.s) The intervals between general meetings of the society, the manner of calling general and special meetings, the requisite notices of meetings, and the quorum for meetings, of the society ; ( t ) The procedure at meetings of the society, including the rights of members in voting thereat, and the manner of voting; (u) The manner of appointing, remunerating and removing officers (other than directors) of the society, the powers and duties of officers, and the security to be given by any officer having the receipt or charge of any moneys belonging to the society ; (v) Whether the accounts of the society are to be audited annually or more frequently, the manner of appointing, remunerating and removing auditors, the powers and duties of auditors, and in particular their powers and duties with respect to the inspection of securities belonging to the society ; (w) Provision for the custody of securities belonging to the society ; (a;) The charges, including any charges on admission or for management expenses or otherwise, which are to be payable by a member to the society ;

SOCIETIES. 515 ' ~~ ' • P art V.— 1958. Co-operative Housing Societies Act. M anagement AND KDLE8 ---------------------------------------------------------------------------------------------------- ------------------------ ■ op S ocieties . ( y ) The manner of altering and rescinding the rules, and of making additional rules ; (z) Provision for the custody and use of the seal of the society ; ( aa) The manner in which the society may be wound up ; and {ah) Such other matters as are prescribed. (3.) The rules of a society shall bind the society Efifoot of and all members thereof and all persons claiming through rues‘ them respectively to the same extent as if each member had subscribed his name and affixed his seal thereto, and there were contained in the rules a covenant on the part of each member and his legal representatives to observe all the provisions of the rules. (4.) Model rules for a society shall be prescribed.Model ra,es- (5.) A society which is to be registered under this Act, or which is registered or deemed to be registered hereunder, may adopt as its rules all or any of the model rules. (6.) Where a society is formed under this Act, in so far as any rules tendered for registration are not inconsistent with or do not exclude or modify the model rules as then in force, such model rules shall be deemed to form part of the rules of the society in the same manner and to the same extent as if they were contained in the rules tendered and registered. (7.) No alteration of the model rules shall apply to any society which is established before the regulation prescribing the alteration comes into operation, unless the society by special resolution adopts the alteration in its rules. (8.) Any person shall be entitled to obtain from a society a copy of its rules on payment of a sum not exceeding five shillings. 43. (1.) The rules of a society shall not be Amendment altered unless the alteration has been approved by aofrues- special resolution. (2.) If the registrar is satisfied that the alteration is not contrary to this Act, that the rules as altered are suitable and sufficient for the purposes intended, would not adversely affect the financial position of the society,

516 SOCIETIES. P art V.— D uties , M anagement and R ules op S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, and do not impose any unreasonable or inequitable condition affecting the rights of members or any inequitable provision relating to the settlement of disputes, the registrar shall register and certify the alteration as prescribed. If the registrar refuses to register the alteration he shall forthwith notify the society and of his reasons therefor. (3.) The rules of the society shall be read subject to any alteration so registered and certified. Registrar (4.) The registrar may require the revision or rmevaiysiroenquire alteration of any rule or proposed alteration of a rule, of rules. whether registered or submitted for registration, which in his opinion contains provisions not in conformity with this Act. (5.) For the purposes of this Act, alteration of the rules includes addition to and rescission of a rule. Winding up. 44. (1.) A society may be wound up voluntarily or by or subject to the supervision of the Court or upon a certificate of the registrar. (2.) In the case of a winding up either voluntarily or by or subject to the supervision of the Court, the society may be wound up in the same manner and in the same circumstances in which a company formed or registered under *“ The Companies Acts, 1931 to 1955,” may be wound up and the provisions of those Acts relating to such a winding up shall apply to and in respect of the winding up of the society with and subject to all necessary adaptations and in particular so that— (а) Any reference in those Acts to a special resolution or extraordinary resolution shall be deemed to be a reference to a special resolution as defined in this Act; and (б) Any reference in those Acts to the “ registrar of companies ” or the “ registrar ” shall be deemed to be a reference to the registrar appointed under this Act. Filling (3.) Where a society is being wound up voluntarily vofafcicaenocyf in and a vacancy occurs in the office of liquidator which liquidator. in the opinion of the registrar is unlikely to be filled * 22 G. 5 No. 53 and amending Acts.

SOCIETIES. 517 ----------------------------------------------------------------------------------------------------------------------------------------- P art V.— 1958. Co-operative Housing Societies Act. management and B ulbs of -------------------------------------------------------- —------------------------------------------------------------------------------S ocieties . in the manner provided in *“ The Companies Acts, 1931 to 1955,” the registrar may appoint a person to be liquidator. (4.) In the case of a winding up upon a certificate Winding up of the registrar the society may be wound up if the of registrar!6 registrar certifies that any of the following events has occurred, that is to say :— (а) That the number of members is reduced to less than twelve and the Minister is satisfied that it is desirable and expedient that the society be wound up ; (б) That the society has not commenced business within a year of registration or has suspended business for a period of more than six months ; (c) That the specified date on which the society is to terminate has arrived ; ( d) That the specified object or specified event upon the attainment or occurrence of which the society is to terminate has been attained or has occurred (as the case may be); (e) That the registration of the society has been obtained by mistake or fraud; (/) That the society exists for an illegal purpose ; or (g) That the society has wilfully and after notice from the registrar violated the provisions of this Act or of the rules of the society. (5.) The registrar shall not so certify unless— (a) The event has been proved to his satisfaction » and ( b) In the case of any of the matters referred to in paragraphs (e), (/), and (g) of the last preceding subsection, the Minister consents to the issue of the certificate by the registrar. (6.) Where the registrar so certifies he may appoint Appointment a person to be the liquidator of the society and such of liquidator, liquidator shall give such security and be entitled to receive such fees as are prescribed. 22 G. 5 No. 53 and amending Acts.

518 SOCIETIES. P art V.— D uties , M anagement and B ules of S ocieties . Co-operative Housing Societies Act. 7 E liz . II. No. 14, Application (7.) Where the registrar has so certified and has of certain appointed a liquidator the provisions of Part VII. of of^TOe18 *“ The Companies Acts, 1931 to 1955,” relating to a members’ voluntary winding up of a company formed or to ms,” registered under those Acts shall apply to and with respect * w > m .« m !* gs up. n to ec t e h g e ga w ry inaddinagptautpioonfstihneclsuodciinegtythweitahdaapndtatsiuobnjsecrtefteorraeldl to in subsection two of this section : Provided that— (a) Any vacancy occurring in the office of liquidator shall be filled by appointment by the registrar ; and (b) The winding up shall be deemed to commence at the date of the certificate of the registrar. Application (8.) The provisions of sections two hundred and provisions ninety-eight, two hundred and ninety-nine and three of “The hundred of “ The Companies Acts, 1931 to 1955,” shall AcMPlmi aPPly f° an(l with respect to societies registered under to loss,” to this Act with and subject to all necessary adaptations of'societies and in particular so that any reference in those provisions to the registrar shall be deemed to be a reference to the registrar appointed under this Act. (9.) The liquidator shall cause a notice of the commencement of the winding up to be advertised in the Gazette and in a newspaper circulating in the district in which the office of the society is situated. (10.) In this section “ the Court ” means the Supreme Court of Queensland or a judge thereof. Liability of 45. (1.) Where a society is being wound up, every members and pregen^ and past member of the society shall be liable members in to contribute to the assets of the society up to the amount, wmdmg up. any? unpaid on the shares in respect of which he is liable as a present or past member together with any charges payable by him to the society, for payment of the debts and liabilities of the society, and the costs, charges and expenses of the winding up and for payment of such sums as may be required for the adjustment of the rights of the contributories among themselves, with the qualifications set out in this section : Provided that in the winding up of any society a member shall not be liable to pay the amount unpaid on the shares in respect of which he is liable except at * 22 G. 5 No. 53 and amending Acts.

SOCIETIES. 519 ---------------------------------------------------------------------------------------------------------------------------------- P art V.— 1958. Co-operative Housing Societies Act. management and R ules oe SOCIETIBS. the time or times and subject to the conditions expressed in the rules of the society relating to the payment of share capital by instalments and, where an advance has been made, in the security securing the advance. (2.) A past member shall not be liable to contribute to the assets of the society if he has ceased to be a member for one year or upwards before the commencement of the winding up. (3.) A past member shall not be liable in respect of any debt or liability of the society contracted after the time at which he ceased to be a member. (4.) A past member shall not be liable to contribute unless it appears that the existing members are unable to make the contributions required to be made by them in order to satisfy all just demands upon the society. 46. (1.) A society shall not be dissolved nor the Dissolution registration of the society cancelled until— cancellation (a) An account made up and signed by the liquidator showing the assets and liabilities of the society at the commencement of the winding up and the mode in which those assets and liabilities have been applied and discharged; and ( b ) A certificate signed by the liquidator, or by the secretary or by some other officer of the society approved by the registrar that all property vested in the society has been duly conveyed or transferred by the society to the persons entitled, have been lodged with, or sent by prepaid registered post or certified mail to, the registrar. (2.) As soon as practicable after the society is dissolved, the registrar shall register the dissolution and cancel the registration of the society. P art VI.— P art VI.—A dministration . TKATION. 47. (1.) This Act shall be administered by the Admmistra- Minister and subject to the Minister by the registrar M-Suter and of co-operative housing societies. There shall be an» registrar of office of the registrar to be known as the registry of£°^gat,ve co-operative housing societies. societies.

520 P art VI.— A dminis ­ tration . SOCIETIES. Co-operative Housing Societies Act . 7 E liz . II. No. 14, (2.) The registrar and any other officers required for the purposes of administering this Act shall be appointed and hold office under, subject to and in accordance with *“ The Public Service Acts, 1922 to 1955.” (3.) The registrar shall have such duties, powers and authorities as are prescribed. (4.) During the absence from duty of the registrar by reason of illness, leave of absence or other cause, or during any vacancy in the office of the registrar, the duties, powers and authorities of the registrar may be performed and exercised by a deputy registrar appointed by the Governor in Council (whether generally or in respect of any particular period of absence from duty of, or vacancy in the office of, the registrar). (5.) The registrar shall have a seal of office. Documents 48. All certificates, rules and documents required kept^h6 be registered under this Act or to be lodged with, the registry, delivered, or sent to, the registrar for record shall be kept in the registry. Payments 49. The Minister may authorise the payment, etoxpmeneseets out of moneys made available by Parliament for the relating to purpose, of amounts for the purpose of meeting expenses ginivfoinrmg aotfion relating to the dissemination of information concerning concerning the formation, registration and operation of co-operative sfoorcmietaiteiso. n of housing societies. Power of 50. (1.) On any application for registration of a requirer *° society or of any rule or document under this Act the evidence, registrar may require from the applicant such information and evidence as is reasonable in order to show that the application should be granted. (2.) The registrar may require from any society such information and evidence as is reasonable in order to show that the society is bona fide carrying on business in accordance with the provisions of this Act. (3.) The registrar may require from a society such evidence as he thinks proper of all matters required to be done and of the particulars in any document required to be lodged with, or delivered or sent to, him under this Act. * 13 G. 5 No. 31 and amending Acts.

1958. SOCIETIES. Co-operative Housing Societies Act. 521 P art VI.— A dminis ­ tration ,. 51. (1.) The registrar may inspect, or may authorise inspection in writing any officer employed in or in connection with of books* the office of the registrar or, with the approval of the Minister, any officer of the public service of Queensland or any accountant or actuary to inspect any minutes, registers, books and documents of any society. (2.) The registrar or any person so authorised may require any director or officer of the society to produce to him all the minutes, registers, books and documents of the society, and any person so required who, without reasonable excuse, fails in any respect to comply with the requirement shall be guilty of an offence against this Act and liable to a penalty of not more than one hundred pounds. (3.) Any bank in which a society keeps an account shall, when so required in writing by the registrar, furnish to the registrar a statement of such account and any other particulars required by the registrar to be so furnished and no bank shall incur any liability whether in respect of any breach of trust or otherwise, by reason only of the furnishing of any statement or particulars pursuant to this section. 52. (1.) The registrar shall on the application of Special a majority of the board or of not less than one-third of SquL^goTd the members of any society— application of board or (a) Call a special general meeting of the society ; members. or (b) Hold an inquiry into the affairs of the society. (2.) The application shall be supported by such evidence as the registrar directs for the purpose of showing that the applicants have good reason for requiring the meeting or inquiry, and that the application is made without malicious motive. (3.) Such notice of the application shall be given to the society as the registrar directs. (4.) The applicants shall give such security for the expenses of the meeting or inquiry as the registrar directs. (5.) The registrar may direct at what time and place any such meeting is to be held and what matters are to be discussed and determined at the meeting, and

m P art VI.— A dminis ­ tration . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, shall give such notice to members of the holding of such meeting as he deems fit notwithstanding any provision in the rules of the society as to the giving of such notice. (6.) The meeting shall have all the powers of a meeting called in accordance with the rules of the society, and shall have power to appoint its own chairman, notwithstanding any rule of the society to the contrary. (7.) The registrar may appoint an inspector for the purpose of any such inquiry. (8.) All expenses of and incidental to the meeting or inquiry shall be defrayed by the applicants or out of the funds of the society or by any officer or member or former officer or member of the society as the registrar directs, or in any two or more of such ways in such proportions as the registrar directs, and any amount thereof not paid as directed by the registrar may be recovered by him by action as for a debt in any court of competent jurisdiction. inquiry by 53. (1.) The registrar may without any application inspecTor?1 hold an inquiry or appoint an inspector to hold an ' inquiry into the affairs of any society. (2.) Upon the completion of any inquiry under this section or the last preceding section the registrar may if he thinks fit call a special general meeting of the society. (3.) The provisions of subsections five, six and eight of the last preceding section shall so far as applicable apply to and with respect to any such meeting. Powers of 54. The provisions of *“ The Commissions of Inquiry inspector°r Acfe, 1950 to 1954,” shall apply for the purposes of any upon inquiry into the affairs of a society by the registrar or mqmry. any inSpector appointed for the purpose, and for the purpose of so applying those provisions the term “ Commission ” in those Acts shall be deemed to include the registrar or inspector making the inquiry. Inspection 55. Any person may on payment of the prescribed fee— of documents at registry. (a) Inspect at the office of the registrar the registration and rules of any society ; 15 G. 6 No. 2 and amending Act.

1958. SOCIETIES. Co-operative Housing Societies Act. m P art VI.— A dminis ­ tration . (6) Obtain from the registrar a certificate of the registration of any society and a certified copy of the rules or of any part of the rules of any society ; and (c) With the permission of the registrar, inspect at his office and obtain from him a certified copy of any other registered document, or of any part thereof. 56. The registrar shall as soon as possible after the Annual end of each financial year make to the Minister a report regtatrirT of his proceedings and of the principal matters transacted by him and of the administration of this Act generally during that financial year, and such report shall be laid before Parliament. 57. (1.) The Governor in Council may constitute Co-operative a Co-operative Housing Advisory Committee of not less Advis^ than three nor more than five members— committee. (a) For the purpose of advising the Minister with respect to— (i.) Proposals relating to the financing of the operations of societies and, in particular, to the execution of guarantees under this Act, including the terms and conditions to be inserted therein and any other action to be taken for the protection of the Consolidated Revenue in relation thereto ; (ii.) Proposals to improve the methods of operations of societies; (iii.) Proposals to promote the building of dwelling-houses by co-operative effort; and (iv.) Such other matters as are referred to the committee by the Minister ; and (b) To perform such other duties as may be directed by the Minister and in such manner as the Minister may direct. (2.) The members of the committee shall hold office at the pleasure of the Governor in Council. (3.) The member thereunto appointed by the Governor in Council shall be the chairman of the committee.

524 P ast VI.— A dminis ­ tration . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, (4.) The committee shall meet at such times and places and conduct its business in such manner as may be prescribed or, in so far as not prescribed, it deems fit. (5.) Each member shall receive such fees and allowances, if any, as the Governor in Council may from time to time determine. P art VII.— G uarantees P rivileges . PART VII—GUARANTEES AND PRIVILEGES. Power of 58. (i.) The Treasurer of Queensland may, with Treasurer ^e approval of the Governor in Council, execute a society’s guarantee m favour of any bank or of any society indebtedness r -gj.ered under *“ The Friendly Societies Acts, 1913 to t0 “ ’ °' 1956,” (in this Part referred to as a “ friendly society ”) or of any other person or body corporate or unincorporate (including any trustee) approved by the Treasurer of Queensland (in this Part referred to as an “ approved body ”) guaranteeing the repayment of any loan to be made by the bank, friendly society or approved body to any society. Agreement (2.) No guarantee shall be executed pursuant to precedent ^his Part guaranteeing the repayment of any loan to of guarantee, be made to a society unless and until the society has first entered into an agreement with the Treasurer of Queensland with respect to the conduct of the affairs of the society while the guarantee is in force and containing such provisions and conditions as are prescribed or as the Treasurer of Queensland thinks fit, and in particular a condition that while the guarantee is in force the society shall not make charges in respect of interest on an advance together with management or administrative charges to a member of more than three-quarters of one per centum (or such other amount per centum as is fixed for the time being by the Governor in Council by Order in Council) in excess of the rate per centum per annum of interest charged to the society by the bank, friendly society, or approved body in whose favour a guarantee has been executed under this Part: Provided that upon the written application of a society the Treasurer may approve that any charge by way of an entrance fee not exceeding four shillings per centum of the nominal value of shares allotted to members * 4 G. 5 No. 13 and amending Acts.

SOCIETIES. 525 P art VII.— 1958. (iMS,1!E8 _________________________ C __ o __ - _ o __ p __ e __ r _ a __ t _ i _ v __ e ___ H ___ o __ u __ s __ i _ n __ g ____ S __ o __ c _ i _ e __ t _ i _ e __ s ___ A ___ c __ t _ . _____ ____________________ PRIVILEGES. be not taken into account in calculating the margin of three-fourths of one per centum (or such other amount per centum) aforesaid. 59. The following provisions shall apply to and in Provisions respect of any guarantee authorised to be executed by^^^ this Part of this Act— ’ (a) The guarantee shall be in such form and subject to such terms and conditions as are prescribed or as the Treasurer of Queensland determines; ( b ) The guarantee may include the interest charges and expenses chargeable by the bank, friendly society or approved body (as the case may be) against the principal debtor in the usual course of its business and the expenses of enforcing or obtaining or endeavouring to enforce or obtain payment of the debt guaranteed and such interest charges and expenses; (c) The bank, friendly society or approved body (as the case may be) shall obtain, take and hold such securities (if any) for the payment of the principal debt (including interest charges and expenses chargeable in respect thereof) as the Treasurer of Queensland may require; (d) The guarantee shall not be enforceable against the Treasurer of Queensland or against the Consolidated Revenue unless and until the bank, friendly society or approved body (as the case may be) has fully exercised its rights and remedies under all securities (other than the guarantee itself) held by or for it in respect of the debt guaranteed, or unless the bank, friendly society or approved body (as the case may be) has under the provisions of the securities executed by the society in favour of the bank, friendly society or approved body (as the case may be) or of any of such securities become entitled to appoint a receiver of the undertaking and assets of the society; and

526 PART VII.— G uarantees and P rivileges . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, (e) The bank, friendly society or approved body (as the case may be) shall not without the consent in writing of the Treasurer of Queensland assign or encumber the benefit of the guarantee. The Governor in Council by Order in Council may from time to time vary, amend, add to, or rescind any provision of this section applying in respect of guarantees under this Part which are executed on or after the date of such Order in Council. Aggregate liability under guarantees limited. 60. (1.) The Treasurer of Queensland shall not execute any guarantee under this Part where such guarantee would involve the State in a liability which, when added to the total liabilities subsisting in respect of other guarantees executed under this Part would in the aggregate exceed the amount of fifty million pounds. gmPureaoervtaiinsnigtoenesf. or due a( 2n. d) Spauychabsleumusndaesr manayy gfruoamranttimeeeatuothtoimriseedbeucnodmeer this Part shall be paid out of Consolidated Revenue, which is hereby to the necessary extent appropriated accordingly. P art VIII.— E vidence , O ffences P and R egulations . art VIII.— E vidence , O ffences and R egulations . Certificates, 61. (1.) Every certificate of incorporation or other &c. official document relating to a society signed by or bearing the seal of the registrar shall be received in evidence without further proof. (2.) Any thing purporting to be a duplicate original or copy of a certificate of incorporation of a society and certified as such by the registrar shall be received in evidence as if it were the original certificate. (3.) Judicial notice shall be taken of the signature and seal of any person who holds or has held the office of registrar, if the signature or seal purports to be attached to any certificate or other official document. (4.) The provisions of this section shall extend to any copy of the rules of a society certified by the registrar to be a true copy of its registered rules.

SOCIETIES. 527 ----------------------------------------------------------------------------------------------------------- : P art VIII.— 1958. Co-operative Housing Societies Act. omtocbsand __________ _____________________________________________ ________________ __________________ _ R egulations . 62. A copy of the rules of a society purporting Rules, to be certified by the secretary of the society to be a true copy of its registered rules shall be primd facie evidence of the rules. 63. The register of directors, members and shares Register, of a society shall be primd facie evidence of the particulars directed or authorised by or under this Act to be inserted therein, and a copy of any entry in that register shall, if certified by the registrar to be a true copy of the entry in question, be primd facie evidence of the particulars to which the entry relates. 64. A copy of any entry in a book of a society Entries in regularly kept in the course of business shall, if certified books• by statutory declaration of the secretary to be a true copy of the entry, be received in evidence in any case where and to the same extent as the original entry itself is admissible. 65. The foregoing provisions of this Part shall be Saving, read and construed as in aid of and not in derogation from any other Act or law relating to evidence, judicial notice, or the proof of documents. 66 . ( 1 .) A society shall be guilty of an offence, offences by if it fails— societies or officers. (a) To paint or affix or to keep painted or affixed the name of the society on the outside of any office or place in which the business of the society is carried on as required by this Act; (6) To remove or obliterate the name of the society from the outside of any office or place which it has ceased to occupy ; (c) To keep any register or account, or to make any entry therein, as required by or under this Act; (d) To have at its office and open to inspection a copy of this Act and the regulations, or of the rules, or of the last balance-sheet and final accounts together with the report of the auditor, or any register, as required by this Act;

528 P ast VIII.— E vidence , O ffences and R egulations . SOCIETIES. Co-operative Housing Societies Act. 7 Euz. II. No. 14, (e) To lodge with, deliver or send to the registrar any notice or return as required by this Act; or (/) To furnish within the specified time any information lawfully required by the registrar or by any person authorised in that behalf under this Act. (2.) Where the society is guilty of any offence under this section, the society and every director or officer of the society who knowingly and wilfully authorises or permits the default shall be liable to a penalty of not more than five pounds for every day during which the default continues. Acting as director after office vacated. 67. Any person who knowingly continues to exercise the powers of a director of a society after his office as director has been vacated and any director of a society who knowingly permits or suffers any such person to exercise the powers of a director shall be guilty of an offence and liable to a penalty of not more than one hundred pounds and, in addition, to a penalty of not more than five pounds for every day during which the offence is continued. Carrying on 68. (1.) A society shall be guilty of an offence ubunslainwefsusl. if it contravenes any restriction imposed by this Act or its rules on its power to carry on business, and, in particular, if it raises money on loan or makes any advance except as authorised by this Act and the regulations and its rules. (2.) Where the society is guilty of any offence under this section, the society shall be liable to a penalty of not more than one hundred pounds and every director or officer who knowingly and wilfully authorises or permits such contravention shall be guilty of an offence and liable to a penalty of not more than fifty pounds. Using other 69. (1.) If a society in any manner uses any name trhegainstered other than its registered name, it shall be guilty of an names. offence and liable to a penalty of not more than five pounds for every day during which the offence continues. (2.) If an officer of a society or a person on its behalf issues or authorises the issue of any notice, advertisement, or other official publication of the society,

1958. SOCIETIES. Co-operative Housing Societies Act . 529 P art VIII.— E vidence , O ffences and R egulations . or signs or authorises to be signed on behalf of the society any bill of exchange, cheque, promissory note, endorsement, order for money, receipt or other document required in the business of the society, wherein its name does not appear in legible characters, he shall be guilty of an offence and liable to a penalty of not more than fifty pounds. 70. If any officer of a society or any person on its improper behalf uses any seal purporting to be the seal of thesealing' society, wherein its name does not appear in legible characters, he shall be guilty of an offence and liable to a penalty of not more than fifty pounds. 71. If before a society is registered any person Taking takes any money in consideration of the allotment of any share or interest in the society, he shall be guilty registration, of an offence and liable to a penalty of not more than fifty pounds. 72. If any person gives to any member of a society False copies or to any person intending or applying to become aofrules' member of a society, a copy of any rules or any alterations of the same other than those which have been duly registered representing that the same are binding on the members of the society, or if any person makes any alteration in any of the rules of the society after they have been registered, and circulates the same representing that they have been duly registered, when they have not been so registered, he shall, without prejudice to proceedings for any other offence for which he may be liable, be guilty of an offence and liable to a penalty of not more than one hundred pounds. 73. If any person wilfully makes, orders, or allows False to be made any entry or erasure in, or omission from, entrie3' any balance-sheet or account of a society or any book, register, return or document required to be kept, lodged, sent, delivered, or produced for any purpose of this Act, with intent to falsify the same, or to evade any of the provisions of this Act, he shall, without prejudice to proceedings for any other offence for which he may be liable, be guilty of an offence and liable to a penalty of not more than one hundred pounds.

530 P art VIII.— EVIDENCE, O ffences and R egulations . SOCIETIES. Co-operative Sousing Societies Act. 7 E liz . II. No. 14, Imposition 74. If any person, by false representation or aanpdplimcaist­ ion imposition, obtains possession of any property of a of moneys, society, or having the same in his possession, withholds &c. or misapplies the same or wilfully applies any part thereof to purposes other than those specified or authorised by the rules of the society or by this Act, he shall, without prejudice to proceedings for any other offence for which he may be liable, be guilty of an offence and liable to a penalty of not more than one hundred pounds. Improper 75. Any officer of a society who accepts any c&ocm. missions. commission, fee or reward, whether pecuniary or otherwise, from any person for or in connection with a transaction of such person with the society, shall, without prejudice to proceedings for any other offence for which he may be liable, be guilty of an offence and liable to imprisonment for a term of not more than six months or to a penalty of not more than one hundred pounds. Contra­ vention for which no penalty provided. 76. Any society or person which or who contravenes or fails to comply with any provision of this Act shall be guilty of an offence, and, where no penalty is expressly provided therefor, shall be liable to a penalty of not more than fifty pounds. Recovery of fines, penalties, &c. 77. Any offence against this Act may be prosecuted in a summary way under *“ The Justices Acts, 1886 to 1956,” by complaint by the registrar, or by a person thereunto authorised in writing by the registrar, or by any person aggrieved and any fine or penalty paid or recovered in respect thereof shall be paid into the Consolidated Revenue. Civil 78. If a society in making any advance or raising creamseeodfies in any loan contravenes or fails to comply in any respect contra­ with any provision of this Act or any rule of the society, vention. the civil rights and liabilities of the society or any other person in respect of the recovery of the advance or loan shall not be affected or prejudiced by the contravention or failure, save that the money shall become immediately payable, and the same remedies may be had for the recovery of the advance or loan and for the enforcement of any security therefor as if there had not been any such contravention or failure. 50 V. No. 17 and amending Acte.

SOCIETIES. 531 ■--------------------------------------------------------------------------------------------------------------------------------- pabt tot .— 1958. Co-operative Housing Societies Act. omwcMAsro ___________________________________________________________________________________________________ BBGULATIOHS. 79. (1.) The Governor in Council may, from time Regulations to time, make regulations for or with respect to ^tActf1"8 prescribing all or any matters and things which by this ’ Act are authorised, required or permitted to be prescribed, or which in the opinion of the Governor in Council are necessary or expedient to be prescribed for a purpose of this Act, including regulations prescribing model rules of a society, regulations respecting registry and procedure under this Act, regulations prescribing the forms to be used for such registry and procedure or otherwise under this Act, the respective purposes for which such forms are to be used, the duties and functions of the registrar, the inspection of documents kept by the registrar under this Act, the fees to be paid for matters to be transacted or the inspection of documents under this Act, and generally for carrying this Act into effect. Such regulations may impose a penalty for any breach thereof and also distinct penalties in cases of successive breaches thereof, provided that no such penalty shall exceed twenty pounds. Such regulations may impose a daily penalty not exceeding two pounds a day for any continuing breach thereof. The power to make any regulation shall include power thereby to prohibit either generally or to meet particular cases. (2.) The power to make any regulation under this Act shall include power to make that regulation so that it may be of general or specially limited application according to time, place, purposes, class, or circumstances, or otherwise as is prescribed, and so that any regulation of specially limited application may or may not differ from any other regulation of specially limited application with respect to persons, matters, or things included in any class thereof. (3.) Regulations may be made upon the passing of this Act. 80* (1.) Every Proclamation, Order in Council, and Publication regulation made under this Act shall— tfoM.°&cma* (a) Be published in the Gazette ;

532 P art VIII.— E vidence , O ffences and R egulations . SOCIETIES. Co-operative Housing Societies Act. 7 E liz . II. No. 14, (6) Upon its publication in the Gazette, be judicially noticed and such publication shall be conclusive evidence of the matters contained therein; (c) Take effect from the date of such publication unless, in the case of any regulation, a later date is specified in that or any other regulation for its commencement when in such event it shall take effect from that later date; and (d) Be laid before the Legislative Assembly within fourteen sitting days after such publication, if the Legislative Assembly is in session, and sitting for the despatch of business and if not, then within fourteen sitting days after the Legislative Assembly again sits for the despatch of business. (2.) If the Legislative Assembly passes a resolution of which notice has been given at any time within fourteen sitting days after any such Proclamation, Order in Council, or regulation has been laid before it disallowing the same or part thereof, that Proclamation, Order in Council, regulation, or part shall thereupon cease to have effect, but without prejudice to the validity of anything done in the meantime or to the making of any further Proclamation, Order in Council, or regulation-

1958. SOCIETIES. Co-operative Housing Societies Act. 533 SCHEDULE. Name of Society. Date of Incorporation. '.3(1).] Bed Comb Co-operative Terminating Housing Society No. 1 Limited .. .. .. 19th March, 1957 Brisbane Co-operative Terminating Housing Society No. 1 Limited .. .. .. 19th March, 1957 Rockhampton Co-operative Housing Society No. 1 Limited .. .. .. .. 10th May, 1957 Metropolitan Mutual Co-operative Housing Society No. 1 Limited .. .. .. 27th May, 1957 Garden City Co-operative Housing Society No. 1 Limited .. .. .. .. 27th May, 1957 Maryborough Co-operative Housing Society No. 1 Limited .. .. .. .. 11th July, 1957 Wynnum District Co-operative Housing Society No. 1 Limited .. .. .. llth July, 1957 The Townsville Co-operative Housing Society No. 1 Limited .. .. .. .. 1st August, 1957 Gympie Co-operative Housing Society No. 1 Limited .. .. .. .. .. 22nd August, 1957 The Northern Co-operative Housing Society No. 1 Limited .. .. .. .. 20th September, 1957 Garden City Co-operative Housing Society No. 2 Limited .. .. .. .. 14th March, 1958 Red Comb Co-operative Terminating Housing Society (No. 2) Limited......................... 14th March, 1958 Australian Netherlands Co-operative Terminating Housing Society (Queens­ land) Limited .. .. .. .. 20th March, 1958 Stanley Co-operative Terminating Housing 20th March, 1958 Society No. 1 Limited .. .. ..