Rules – argyle street housing cooperative

ASH Coop is currently reviewing and updating its rule book but the current document should be seen as that which defines our processes as they stand.

RULES OF THE ARGYLE STREET HOUSING CO-OPERATIVE LIMITED

CONTENTS

NAME, OBJECTS & REGISTERED OFFICE

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1. The name of the Society shall be Argyle Street Housing Co-operative
  Limited.
2. The objects of the Society shall be:
  1. The construction, improvement and management on Co-operative principles
    (as set out in the appendix of these rules) of houses for occupation by members
    of the Society.
  2. The provision and improvement on the Co-operative principles of land or
    buildings for purposes connected with the requirements of the members
    occupying the houses provided by the Society.
3. The Society shall have power to do all things necessary or expedient for the
  fulfilment of its objects.
4. The Society shall not trade for profit.
5. The Registered Office of the Society shall be at 3 Fletchers Terrace,
  Cambridge.

MEMBERSHIP

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A member of the Society shall be a person who holds a share in the Society
and whose name is entered in the register of members and who is a resident in
the housing provided by the Society.
The Committee may, within their absolute discretion, admit or refuse to admit
any person to membership of the society.
All applications for membership shall be made to the Committee at the
Registered Office of the Society. Applicants who are approved shall be issued
with one share each upon payment of one pound, shall have their names entered in
the register of members and occupy housing provided by the Society.
Every member shall take up and hold one only share in the Society.
Persons shall not be admitted to membership if they are under the age of
sixteen years.
Members shall cease to be members if they die, or are expelled in accordance
with rule 13, or withdraw from the society or cease permanently to occupy
housing provided by the society.
Members shall withdraw from the Society by giving the Secretary one month’s
notice of their intention to do so.
1. Members may be expelled by resolutions carried by the votes of two-thirds
  of the members of the Society present and voting at a general meeting of the
  Society. Written complaints of conduct detrimental to the interests of the
  Society must have been sent to the members complained of at least one month
  before the meeting. These complaints shall contain details of the conduct
  complained of and shall call upon the members to answer the complaints and
  attend the meeting. If the members in question do not attend the meeting, the
  meeting may proceed in their absence.
2. A person who is expelled from membership shall only be readmitted by a
  resolution carried by the votes of two-thirds of members present at any general
  meeting.
SHARE CAPITAL

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The share capital of the Society shall consist of shares of the nominal value
of one pound each issued to members of the Society upon admission to
membership.
A share shall carry no right to interest dividend or bonus, and shall not be
held jointly nor be transferable or withdrawable. The share of any member who
cease to be a member shall be cancelled, subject to provisions of rule 16, the
value of the share shall be repaid to her/him of if s/he has died to her/his
estate.
The society shall have a lien on the share and returnable payment of a member
for any debt due to it by the member including the cost to the Society of
rectifying or indemnifying in respect of each breach by the member of their
agreement with the Society, such costs to be assessed by the Committee, and the
Society may set off any sum standing to the member’s credit including any loan
money and interest in or towards the payment of such debt.
1. The Society shall have the power to borrow money for the purpose of the
  Society in whatsoever manner it may determine, including the issue of loan
  stock, providing that the amount of money borrowed remaining undischarged at any
  time shall not exceed £1,000,000.
2. In the case of a loan from the Society’s bankers or on a mortgage the
  Society may pay such rate of interest from time to time as may be negotiated by
  the Society. 7 In the case of loans from any other source, the Society shall not
  pay interest at a rate exceeding 1% per annum above the Co-operative Bank
  Limited base lending rate for the time being, or 6.5% per annum, whichever is
  higher.
3. The Society shall not receive money on deposit, but nothing in this rule
  shall prevent the Society from receiving the returnable payment provide for in
  rule 24(ii)
4. Subject to the proceedings of this rule and to the provisions relating to
  loan stock contained in rules 18, 19 and 20, the committee shall have power to
  determine and vary from time to time the terms and conditions on which money is
  borrowed or loan stock issued.
The Society may issue loan stock which shall be subscribed for in a form
prescribed by the Society containing a statement of the terms and conditions of
issue and payment. Such terms and conditions shall be subject to the previous
approval in writing of the Housing Corporation.
Loan stock, if any, shall be paid for at such times and in such amounts as
the Committee may from time to time require in writing. Such loan stock shall be
issued in multiples of not less than five pounds and shall carry such interest,
if any, as may have been determined by the Committee under rule 17. A
Certificate sealed by the Society shall be delivered to the loan stock
subscriber upon payment to the society of the full amount of the loan stock.
1. Subject to payment of or making sufficient provision for all subsisting
  claims on the Society, loan stock shall confer a right to repayment of the
  principal from the Society where:
  1. members cease to be members as provided in rule 11 and they (or their
    representatives) make written demands for payment, or
  2. the Society dissolves
2. Subject as aforesaid, the Society may from time to time repay to loan
  stock subscribers the whole or any proportionate part of loan stock
3. On repayment of loan stock the subscriber to whom it is repaid shall
  surrender the certificate to the Society and the loan stock so repaid shall be
  cancelled forthwith.
GENERAL MEETINGS

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The Society shall meet in General Meetings, which shall be either Annual
General Meetings, Semi-Annual General Meetings or Ordinary General Meetings.
PROVISIONS APPLICABLE TO ALL GENERAL MEETINGS

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1. Each General Meeting shall be convened by the Secretarial Group by notice
  in writing delivered to the address of each member at least two clear days
  before the date and time of such meetings.
2. Each notice convening a General Meeting shall state:
  1. which of the three types of General Meeting is be convened;
  2. the date, time and place of the meeting;
  3. the business to be transacted at the meeting.
3. The address of a member for the purpose of service or delivery of all
  communications of the Society shall be that of the accommodation provided by
  the Society for such member.
4. Proceedings at a General Meeting shall not be invalidated in the event of
  accidental omission to deliver notice thereof to a member, nor by a member’s
  non receipt of such notice.
5. All members shall be entitled to attend and vote at a General Meeting and
  each member shall be entitled to one vote.
6. The time, date and place of each General Meeting shall be determined
  either by the previous General Meeting or by the Secretarial Group.
PROVISIONS APPLICABLE TO ANNUAL GENERAL MEETINGS

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An Annual General Meeting shall be held within three months after the close
of each financial year of the Society, the business of which shall include:
1. the receipt of the accounts, balance sheet and Auditor’s report thereon;
2. the receipt of the Committee’s report on the state of affairs of the
  Society, together with any other report which may be requested by the
  preceding Ordinary General Meeting;
3. the appointment of the Auditor;
4. the transaction of any other general business of the Society which has
  been included in the notice convening the meeting.
PROVISIONS APPLICABLE TO SEMI-ANNUAL GENERAL MEETINGS

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A Semi-Annual General Meeting shall be held within three months before the
beginning of each financial year of the Society, the business of which shall
include:
1. the approval of the budget for the following financial year presented by
  the finance group and signed by the treasurer;
2. the establishment of the following year’s level of returnable payment
  required of every tenant in respect of the accommodation provided by the
  Society; such payment being returnable in full upon leaving the accommodation,
  subject to the provisions of rule 16;
3. the election of the members of the Finance Group and Secretarial Group of
  the Society who shall together form the Committee members for the forthcoming
  financial year;
4. the transaction of any other general business of the Society which has
  been included in the notice convening the meeting;
5. the agreement, if the Semi-Annual General Meeting sees fit, of the policy
  upon which any savings or remissions arising in the next financial year are to
  be distributed in accordance with the Co-operative Principles appended to
  these rules.
PROVISIONS APPLICABLE TO ORDINARY GENERAL MEETINGS

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1. An Ordinary General Meeting shall be convened either by order of the
  Committee or upon written request to the secretary signed by at least
  one-tenth of the members of the Society. Such requisitions shall state the
  business for which the meeting is being convened;
2. The Secretarial Group shall convene the meeting within five days of
  receipt of the said order or request, and the date of the meeting shall be
  within fourteen days from the date of such receipt;
3. Should the Secretarial Group fail to properly convene the meeting, the
  orderer of requisitioners may themselves give notice of and convene the
  meeting, and the Society shall reimburse them for any cost incurred;
4. The only business which shall be transacted at an Ordinary General Meeting
  is that mentioned in the notice convening the meeting.
PROCEEDINGS AT GENERAL MEETINGS

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1. No business shall be transacted at any General Meeting unless a quorum of
  members is present.
2. If no quorum is present within one hour of the time appointed for the
  meeting, the meeting shall stand adjourned to the same day in the next week at
  the same time and place. If at the adjourned meeting no quorum is present
  within half an hour of the time appointed for the meeting, the members present
  shall become quorum.
General Meetings shall be conducted in accordance with any Society Standing
Orders (which shall not conflict with these rules).
1. With the consent of the majority of the members present, the chairperson
  of the meeting may adjourn a meeting. Any adjourned meeting shall only
  transact the business left unfinished or unattended to at the meeting from
  which the adjournment took place.
2. Every adjourned meeting shall be deemed a continuation of the original
  meeting and any resolution passed at the adjourned meeting shall for all
  purposes be treated as having been passed on the date on which it was in fact
  passed. It shall not be necessary to give any notice of any adjournment or of
  the business to be transacted at an adjourned meeting.
At all General Meetings the chairperson and vice-chairperson shall be as the
previous General Meeting elects. If either of these members is not present, the
members present shall elect a replacement.
1. Subject to any contrary provision in these rules, or in any Act of
  Parliament, a resolution put to the vote at any general meeting shall be
  decided by a simple majority of those voting upon a show of hands.
2. A secret ballot may be demanded either immediately before or immediately
  after a vote by a show of hands;
3. If a secret ballot is demanded when any resolution is put to the vote, it
  shall be taken if one-quarter of the members present support such demand on a
  show of hands;
4. Where a secret ballot is taken, it shall be taken at such time and in such
  manner as the Chairperson shall direct;
5. On a secret ballot being taken, a resolution shall be decided by a simple
  majority of those voting therein, subject to any contrary provision in these
  rules as to the majority required for resolutions to be carried;
6. Unless a secret ballot is demanded, a declaration by the Chairperson as to
  whether a majority on a show of hands has carried or defeated a resolution and
  an entry to that effect in the minutes of the proceedings shall be conclusive
  evidence of the status of the resolution;
7. Any questions as to the acceptability of any votes shall be determined by
  the Chairperson whose decision shall be final.
EXECUTIVE COMMITTEE

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The Society shall have an Executive Committee (called The Committee) which
shall manage the business of the Society and shall not exceed 32 nor be less
than 6 in number.
The Committee shall comprise joint meetings of the Finance Group and
Secretarial Group of the Society, which shall be as far as possible
of equal size and shall be elected at each semi-annual general meeting. Retired
Committee members shall be eligible for re-election.
A Committee member may be removed from office by a resolution carried by a
majority of the members present and voting at an ordinary general meeting
convened for that purpose. Any resolution carried at an ordinary general meeting
to remove a member of the Finance or Secretarial Group shall also have the
effect of removing that member from the committee.
On a committee member’s leaving of the Committee, from whatever cause, the
Committee shall call an Ordinary General Meeting for the purpose of holding an
election to fill the vacancy.
Members shall not be eligible for membership of the Committee if:
1. they are under the statutory age for attaining a legal
  majority;
2. if they are bankrupt, are parties to arrangements with their creditors,
  are incapacitated by physical or mental illness or convicted of an indictable
  offence.
Committee members shall cease to be Committee members if they resign their
office by written notice to the Secretary, cease to be members of the Society,
fall within the restrictions described in rule 35(ii) or absent themselves from
four consecutive meetings of the Committee without special leave of absence.
Committee members who might benefit either financially or materially in
connection with any business under discussion at a meeting shall, if they are
present at the meeting, make their interests known and shall not vote upon the
business, nor shall they remain present during the discussion unless requested
to do so by the other members present.
PROCEEDINGS OF COMMITTEES<a/a>

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Committee meetings shall be held at such times and places as the Committee
shall from time to time decide or as the Society in General Meeting may direct.
Six Committee members (comprising at least three members of the Finance Group
and at least three members of the Secretarial Group), or such greater number as
the Committee shall determine, shall form a quorum.
1. At their first meeting after the beginning of each financial year, the Committee
  shall elect a President and Vice-President from their own number to hold office
  until the first meeting of Committee held in the following financial year. If both
  the President and the Vice-President are absent or unwilling to chair any Committee
  meeting, the committee members present shall elect one of the their own number to be
  President for the meeting.
2. The President and the Vice-President may resign their office by notice in
  writing to the Secretary, and should this occur the Committee shall forthwith elect
  Committee members to fill the vacant posts.
3. The President and Vice-President may be removed from office by a vote of a
  majority of Committee members present at a special meeting called for that purpose.
Conduct of the Committee meetings shall be in accordance with such standing
orders (which shall not conflict with the rules of the Society) as from time to
time exist.
POWERS OF COMMITTEES

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The Committee may exercise all such powers as may be exercised by the Society
and are not required, either by these rules or by statute, to be exercised by
the Society in General Meeting. This is subject nevertheless to the provisions
of these rules and regulations not inconsistent with these rules made from time
to time by the Society in General Meeting. The Committee shall in all things act
for and in the name of the Society.
Without prejudice to its general powers conferred by these rules, the
Committee may exercise the following powers:
1. to purchase, sell, build upon, lease or exchange land, including the
  agreement and acceptance of any liability for any resultant expenses, and to
  enter into contracts and settle contract terms;
2. to settle the terms of engagement and remuneration, if any, of the
  Secretary and other officers of the Society and of any consultant, agent or
  employee employed by the Society in the furtherance of its objects;
3. to mortgage any land, including the agreement and acceptance of any
  liability for resultant expenses;
4. subject to the Society’s Agreement with the Housing Corporation, to
  appoint Managing Agents and to determine, revoke, alter from time to time, and
  at all times enforce as it thinks fit, the terms and conditions on which the
  property of the Society is to be let and managed;
5. to appoint and remove all solicitors, architects, surveyors and employees
  of every description;
6. to pay expenses (including travelling expenses) necessarily incurred by
  Committee Members in the execution of their duties;
7. to compromise, settle, conduct, enforce or resist either in a court of law
  or by arbitration, any suit, debt, liability or claim by or against the
  Society;
8. to affiliate or subscribe to any organisation in such manner as the
  members in general meeting may from time to time determine;
9. to implement any policy determined in accordance with rule 24(v).
A receiver appointed by a mortgage may assume such powers of the Committee as
s/he deems to be necessary to carry out her/his duties.
1. Subject to the agreement of a majority of members present and voting at
  general meeting, the Committee may delegate any of its powers to Working
  Groups appointed in general meeting of the Society, which shall be governed by
  the provisions herein contained for regulating the meetings and proceedings of
  the Committee so far as they are applicable. Any decisions made by such
  Working Groups shall be reported to the next meeting of the Committee or to
  the next ordinary general meeting of the Society, whichever is sooner.
2. Subject to the agreement of majority of members present and voting at
  general meeting, the committee may delegate such of its powers as may be
  necessary or expedient to Managing Agents appointed under rule 42(d)
All acts done in good faith by any meetings of the Committee or Working
Groups shall be deemed valid notwithstanding any later discovery that there was
any defect on the appointment of any member or that any one or more of them were
disqualified.
A resolution in writing signed by all the Committee members or by all the
members of a Working Group shall be as valid and effectual as if it has been
passed at a meeting of the Committee or Working Group duly called and
constituted.
OFFICERS

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The Society shall have a Secretary and a Treasurer and such other officers as
the Society in general meeting may from time to time determine, appoint and
remove. All officers shall act under superintendence, control and direction of
the Society in general meeting.
The Secretary shall, in particular;
1. summon and attend all meetings of the Society and of the Committee and
  keep the minutes referred to in rule 54;
2. keep the register of members and other registers which these rules require
  to be kept, fulfil all the Society’s statutory obligations to the Registrar
  and to the Housing Corporation and have charge of the seal of the Society;
3. produce or give up the books, documents and property of the Society in
  her/his possession whenever required to do so by a resolution of the Committee
  or general meeting.
The Treasurer shall, in particular;
1. keep all the books of accounts and receive all contributions and other
  payments due to the Society from the members and from other persons and pay
  over the amounts so received and directed;
2. produce or give up the books, documents and property of the Society in
  her/his possession whenever required to do so by a resolution of the Committee
  or general meeting.
Members shall not be eligible to serve as officers of the Society if:
1. they are under the statutory age for attaining a legal
  majority;
2. if they are bankrupt, are parties to arrangements with their creditors,
  are incapacitated by physical or mental illness or convicted of an indictable
  offence.
Officers of the Society shall cease to be officers of the society if they
resign their office by written notification to the Secretary, cease to be
members of the Society, fall within the restrictions described in rule 50(ii) or
are removed under rules 47 or 39.
Officers who might benefit either financially or materially in connection
with any business under discussion at a meeting shall, if they are present at
the meeting, make their interests known and shall not vote upon the business,
nor shall they remain present during the discussion unless requested to do so by
the other members present.
Officers shall not be liable for any loss suffered by the Society through the
execution of the duties of their offices, unless the loss be the consequence of
their own dishonesty or gross negligence.
MINUTES, SEAL, REGISTERS AND BOOKS

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Minutes of every general meeting and of every Committee meeting shall be kept
and read at the next respective meeting and signed by the chairperson or the
meeting at which they are read. All minutes so signed shall be conclusive
evidence of any fact stated therein.
The Society shall have a seal which shall be used only as authorised by the
Secretarial Group. The affixing of the seal shall be attested by the signatures
of two Committee members and the countersignature of the Secretary for the time
being.
The Society shall keep at its registered office;
1. a register of members containing the following particulars;
  1. members names and addresses;
  2. a statement of the share held by each member and the amount paid
    therefor;
  3. a statement of any other property in the society held by each member;
  4. the date on which each person was entered in the register as a member
    and the date on which any person ceased to be a member;
  5. particulars of the Agreement held by each member;
  6. the names and addresses of the Society’s offices with their respective
    offices and the dates on which they began and left office.
2. a duplicate register of members containing all the particulars in the
  original register of members except those described in paragraph a(ii), (iii)
  and (v) hereof. The inclusion or omission of the name of any person from the
  original register of members shall, in the absence of evidence to the
  contrary, be inclusive that such person is or is not a member of the Society;
3. A register of loan stock and the holders thereof;
4. A register containing particulars of all mortgages and charges on land of
  the Society.
The registered name of the Society shall be kept painted or affixed in a
conspicuous position in letters easily legible on the outside of every office or
place where the business of the Society is carried on, and the registered name
of the Society shall be engraved in legible characters on its seal, and shall be
mentioned in legible characters in all business letters of the Society, notices,
advertisements and other official publications of the Society and in all bills
of exchange, promissory notes, endorsements, cheques, and orders for money or
goods purporting to be signed by or on behalf of the Society and in all bills,
invoices receipts and letters of credit of the Society.
All books of account, registers, securities and documents of the Society
shall be kept at the registered office or such other place and in such manner
and with such provision for their security as the Committee shall from time to
time determine.
All books of account, registers, securities and documents of the Society
shall be kept at the registered office or other such place and in such manner
and with such provision for their security as the Society in general meeting
shall from time to time determine.
ACCOUNTS

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The society shall keep proper books of accounts in accordance with sections 1
and 2 of the Friendly and Industrial and Provident Societies Act 1968 (or any
subsequent legislation to that Act), and shall maintain a satisfactory system of
financial control.
The Finance Group shall submit the Society’s accounts and balance sheet for
audit to the Society’s auditor, and the auditor shall report to the Society on
the audit in accordance with section 9 of the 1968 Friendly and Industrial and
Provident Societies Act.
The Society shall in accordance with sections 4 and 8 of the Friendly and
Industrial and Provident Societies Act 1968 appoint in each year one or more
auditors to whom the accounts of the Society for that year shall be submitted
for audit as required by the said Act, and who shall have such rights in
relation to notice of and attendance and audience at general meetings, access to
books and supply of information, and otherwise, as are provided by the said
Act.
Every such auditor shall be appointed by the Society in a General Meeting, and the
case of any auditor so appointed who is a qualified auditor under section 7 of
the said Act, the provisions of sections 5 and 6 thereof apply to his
re-appointment and removal and to any resolution removing him or appointing
another person in his place.
1. Every year not later than the date provided by the Actor where the return
  is made up to the date allowed by the Registrar, not later than three months
  after such date, the Secretary shall send to the Registrar the annual return
  in the form prescribed by the Chief Registrar of Friendly Societies relating
  to its affairs for the period required by the Act to be included in return
  together with:
  1. a copy of the report of the auditor on the Society’s accounts for the
    period included in the return, and
  2. a copy of each balance sheet made during that period and of the report
    of the auditor on that balance sheet.
A copy of the annual return, auditors report and balance sheet shall be
submitted to the Housing Corporation.

The Society shall supply, free of charge, a copy of the Society’s most recent
annual return together with a copy of the auditor’s report on the accounts and
balance sheet to every member and to any interested person who applies for such
information.
The Society shall keep a copy of its most recent balance sheet and auditor’s
report thereon displayed in a conspicuous place at its registered office.

PROFITS, SAVINGS AND REMISSIONS

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1. The profits of the Society shall not be distributed either directly or
  indirectly in any way whatsoever among members of the Society, but may, as the
  Annual General Meeting directs, be reserved or applied towards carrying out
  the objects of the Society.
2. An Annual General Meeting of the Society may apply any savings and
  remissions towards a reduction or control of the rents of the accommodation
  provided by the Society or to an amenities fund established to provide
  additional amenities or improvements as the Society may from time to time
  determine; or may reserve such sums towards carrying out the objects of the
  Society.
INVESTMENTS

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The Society in General Meeting may authorise the Society’s funds to be
invested:
1. in narrow-range investments within the meaning of Section 1(4) of the 1961
  Trustees Investments Act;
2. in shares of any building society which has been designated under Section
  1 of the 1959 House Purchase and Housing Act;
3. in shares or on the security of any society registered under the 1965
  Industrial and Provident Societies Act;
but they may not be invested otherwise.

INSPECTION OF BOOKS

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Members or persons having an interest in the Society’s funds shall be allowed
to inspect their own accounts and the books containing the members’ names,
including all particulars in the duplicate register of members, at all
reasonable hours wherever the same are kept, subject to such conditions as may
be made by the General Meeting of the Society.
1. Every dispute between a member, or any aggrieved person who has been a
  member within six months previous to the dispute, or any person claiming
  through such member or aggrieved person or under the rules of the Society, and
  the Society or an officer of the Society shall be referred for arbitration to
  the Registrar. The Registrar’s decision shall be binding and conclusive on all
  parties without appeal and shall not be removable into any Court of Law or
  restrainable by injunction. The Society may apply to the County Court for the
  enforcement of any such decision of the Registrar’s.
2. Before the arbitration, the complaining party shall deposit with the
  Society the sum of one pound to abide by the Registrar’s decision. The costs
  of the arbitration shall be borne as the Registrar directs.
STATUTORY APPLICATIONS TO THE REGISTRAR

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Any ten members (each of whom has been a member of the Society for not less
than twelve months immediately preceding the date of the application) may apply
to the Registrar in the from prescribed by Treasury Regulations to appoint an
accountant or actuary to inspect and report on the books of the Society.
One tenth of the total number of members or if the number shall at any one
time exceed one thousand, one hundred members may apply to the Chief Registrar
in the form prescribed by Treasury Regulation:
1. for the appointment of any inspector to examine and report on the affairs
  of the Society, or
2. for the calling of an Ordinary General Meeting of the Society
COPIES OF RULES TO BE SUPPLIED

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The Secretarial Group shall deliver a copy of these rules free of charge to
every person on demand.
PROCEEDING ON DEATH OF A MEMBER

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Upon a claim being made by the personal representative of a deceased member,
or the trustee in bankruptcy of a bankrupt member, to any property in the
Society belonging to the deceased or bankrupt member, to any property in the
Society belonging to the deceased or bankrupt member, the committee shall
transfer or pay such property to which the personal representative or Trustee in
bankruptcy has become entitled as she/he may direct.
NOMINATIONS

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Subject to the provisions of the 1965 Industrial and Provident Societies Act,
members may nominate persons to whom any of their property in the Society shall
be transferred at the time of their deaths. On receipt of satisfactory proof of
death of a member who has made such a nomination if and to the extent that the
nomination is valid under the said Act, the Committee shall either transfer or
pay in accordance with that Act the full value of the property comprised in the
nomination to the person nominated.
DISSOLUTION

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The Society shall be dissolved by:
1. an order or resolution to wind up the Society as is directed with regard
  to companies by the 1948 Companies Act (except that the term Registrar shall,
  for the purpose of such winding up, have the meaning given to it by rule
  77(b), or
2. by the consent of three-quarters of the members testified by their
  signatures to an instrument of dissolution in the form provided by Treasury
  Regulations.
If, on the winding up or dissolution of the Society there remains, after the
satisfaction of all its debts and liabilities, any property whatsoever, such
property shall not be distributed among the Societies Members but shall be
transferred to the Housing Corporation.
AMENDMENT OF RULES

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The Society shall only amend these rules by a resolution carried by
three-quarters of the votes given thereon at the Ordinary General Meeting of
which notice has been given specifying the intention to propose such amendment
of rules. Application for the registration of every amendment shall be forwarded
via the Housing Corporation to the Registrar in the manner and form required by
Treasury Regulations. No amendment of rules is valid until registered, and every
member shall be supplied with a copy of any registered amendments as soon as
practicable after registration.
INTERPRETATION OF TERMS

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In these rules, unless the subject matter or context are inconsistent
therewith:
1. words importing the singular or plural shall include the plural and single
  respectively;
2. “the chief registrar” and “the registrar” shall mean the central office of
  the Registry of Friendly Societies;
3. “property” shall include all real and personal estate (including loan
  stock, certificates, books and papers);
4. “these rules” shall mean the registered rules of the Society for the time
  being;
5. “amendment of rules” shall include a new rule and the recession of a rule;
6. “the Society” shall mean the Society whereof these are the registered
  rules;
7. “member” shall mean one of the persons referred to in rule 6;
8. “Committee” shall mean the executive Committee provided for under rule 31;
9. “Officer” shall include the Chairperson, Vice-Chairperson, Secretary and
  Treasurer of the Society and any other Committee member for the time being and
  such other officers as may be appointed under rule 47;
10. “Secretary” means the officer appointed to be Secretary of the Society or
  any member of the Society’s Secretarial Group acting as her/his deputy;
11. “Treasurer” means the officer appointed to be Treasurer of the Society or
  any member of the Society’s Finance as her/his deputy;
12. “Working Groups” means elected bodies of members as may be appointed under
  rule 44(a) and shall include the Society’s Secretarial and Finance Groups;
13. “Housing Corporation” means the Housing Corporation established under
  section 1(1) of the 1964 Housing Act and “the Society’s Agreement with the
  Housing Corporation” means the Loan Agreement and Legal Charge executed
  between the Society and Housing Corporation.

APPENDIX

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Co-operative Principles as defined by resolution of the 23^rd
Congress of the International Co-operative Alliance in September 1966.

Membership of a co-operative society should be voluntary and available
without artificial restriction or any special, political, racial or religious
discrimination, to all persons who make use of all its services and are
willing to accept the responsibilities or membership.
Co-operative societies are democratic organisations. Their affairs should
administered by persons elected or appointed in a manner agreed by the members
and accountable to them. Members or primary societies should enjoy equal
rights of voting (one member, one vote) and participation in decisions
affecting their societies. In other than primary societies the administrations
should be conducted on a democratic basis in a suitable form.
Share capital should receive only a strictly limited rate of interest, if
any.
The economic results arising out of the operations of a society belong to
the members of that society and should be distributed in such a manner as
would avoid one member gaining at the expense of others.This may be done by members as follows:
1. by provision for development of the business of the co-operative;
2. by provision of common services; or
3. by distribution among the members in proportion to their transactions
  with the society.
All co-operative societies should make provision for the education of
their members, officers and employees and of the general public, in the
principles and techniques of co-operation, both economic and democratic.
All co-operative organisations, in order to best serve the interests of
their members and their communities should actively co-operate in every
practical way with other co-operatives at local, national and international
levels.

RULES OF THE ARGYLE STREET HOUSING CO-OPERATIVE LIMITED

NAME, OBJECTS & REGISTERED OFFICE

MEMBERSHIP

SHARE CAPITAL

GENERAL MEETINGS

PROVISIONS APPLICABLE TO ALL GENERAL MEETINGS

PROVISIONS APPLICABLE TO ANNUAL GENERAL MEETINGS

PROVISIONS APPLICABLE TO SEMI-ANNUAL GENERAL MEETINGS

PROVISIONS APPLICABLE TO ORDINARY GENERAL MEETINGS

PROCEEDINGS AT GENERAL MEETINGS

EXECUTIVE COMMITTEE

PROCEEDINGS OF COMMITTEES<a/a>

POWERS OF COMMITTEES

OFFICERS

MINUTES, SEAL, REGISTERS AND BOOKS

ACCOUNTS

PROFITS, SAVINGS AND REMISSIONS

INVESTMENTS

INSPECTION OF BOOKS

STATUTORY APPLICATIONS TO THE REGISTRAR

COPIES OF RULES TO BE SUPPLIED

PROCEEDING ON DEATH OF A MEMBER

NOMINATIONS

DISSOLUTION

AMENDMENT OF RULES

INTERPRETATION OF TERMS

APPENDIX