Industrial and Provident Societies Act 1965

Section 1.

SCHEDULE 1Matters to be Provided for in Society's Rules

1The name of the society, which shall comply with the requirements of section 5 of this Act.

2The objects of the society.

3The place which is to be the registered office of the society to which all communications and notices to the society may be addressed.

4The terms of admission of the members, including any society or company investing funds in the society under the provisions of this Act

5The mode of holding meetings, the scale and right of voting, and the mode of making, altering or rescinding rules.

6The appointment and removal of a committee, by whatever name, and of managers or other officers and their respective powers and remuneration.

7Determination in accordance with section 6 of this Act of the maximum amount of the interest in the shares of the society which may be held by any member otherwise than by virtue of section 6(1)(a), (b) or (c) of this Act.

8Determination whether the society may contract loans or receive moneys on deposit subject to the provisions of this Act from members or others; and, if so, under what conditions, under what security, and to what limits of amount

9Determination whether the shares or any of them shall be transferable, and provision for the form of transfer and registration of the shares, and for the consent of the committee thereto; determination whether the shares or any of them shall be withdrawable, and provision for the mode of withdrawal and for payment of the balance due thereon on withdrawing from the society.

10Provision for the audit of accounts by one or more approved auditors.

11Determination whether and, if so, how members may withdraw from the society, and provision for the claims of the representatives of deceased members, or the trustees of the property of bankrupt members or, in Scotland, members whose estate has been sequestrated, and for the payment of nominees.

12The mode of application of profits of the society.

13Provision for the custody and use of the society's seal.

14Determination whether and, if so, by what authority, and in what manner, any part of the society's funds may be invested.