Edinburgh Merchant Company Order Confirmation 1996

Link to law: http://www.legislation.gov.uk/ukla/1996/11/contents/enacted

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now
Introductory Text
1.Confirmation of Order in Schedule.
2.Short title.

Edinburgh Merchant Company

Part I Preliminary

1.Short title.
3.Confirmation of existing charters and repeal of Acts.

Part II Provisions as to Merchant Company

A. Powers of Company
4.Powers of Company.

B. Election of members of Company

5.Qualifications for membership of Company.
6.Application for election.
7.Election of members.
8.Date of election of members.
9.Honorary members.

C. Election of office bearers

10.Election of Master, treasurer and assistants.
11.Master, treasurer and assistants may be re-elected.
12.Filling of vacancies among Master, treasurer and assistants.

D. Officials

13.Appointment of officials by Company.
14.Company may provide pensions, etc., for officials.

E. Fees, etc., payable by members

15.Entrance fees.
16.Election conditional on payment of entry money and other sums.
17.Powers of Company to vary entry money, etc.
18.Power to impose annual subscriptions, etc.

F. Funds and property of Company

19.Application of funds of Company.
20.Hall and offices of Company.
21.Power to contribute to widows' fund from general fund.

G. Meetings of Company

22.Stated general meetings of Company.
23.Special general meetings of Company.
24.Mode of calling Company meetings.
25.Chairman of meetings of Company.
26.Quorum of meetings of Company.
27.Voting at meetings of Company.
28.Company may make rules of procedure.

H. Miscellaneous
29.Company may make rules, etc.

Part III Master’s court

30.Reconstitution of Master’s court.
31.Meetings of Master’s court.
32.Chairman of meetings of Master’s court.
33.Quorum of meetings of Master’s court.
34.Committees of Master’s court.
35.Proceedings of Master’s court not to be invalidated by vacancies, etc.
36.Duties of Master’s court.
37.Accounts to be kept by Master’s court and audited.
38.Company officials to act as officials of Master’s court.

Part IV Darling fund

39.Vesting, etc., of Darling fund in Master’s court.
40.Payment of pensions out of Darling fund.

Part V Widows' fund

A. Maintenance of widows' fund

41.Maintenance of widows' fund.
42.Closure of widows' fund to new contributors.

B. Contributors

43.Stated general meetings of contributors.
44.Special general meetings of contributors.
45.Mode of calling meetings of contributors.
46.Chairman of meetings of contributors.
47.Quorum of meetings of contributors.
48.Voting at meetings of contributors.
49.Appointment of officials by contributors.
50.Contributors may provide pensions, etc., for officials.
51.Contributors may make rules.

C. Powers of widows' fund

52.Powers of Trustees of widows' fund.
53.Constitution of trustees of widows' fund.
54.Elected trustees' eligibility for re-election.
55.Filling of vacancies among trustees.
56.Stated general meetings of trustees.
57.Special general meetings of trustees.
58.Mode of calling meetings of trustees.
59.Chairman of meetings of trustees.
60.Quorum of meetings of trustees.
61.Committees of trustees.
62.Proceedings of trustees not to be invalidated by vacancies, etc.
63.Widows' fund to be managed and administered by trustees.
64.Distribution of widows' fund.
65.Accounts of widows' fund to be kept by trustees and audited.

D. Payments, etc., by contributors

66.Payment of annual contributions.
67.Payment of half-yearly contributions and annuities by instalments.
68.Contributors may alter amount of half-yearly contributions.
69.Redemption of half-yearly contributions.
70.Half-yearly contributions not to be payable after death of married contributors.
71.Contributors may refund payments.
72.Contributor may discontinue payment of half-yearly contributions on death of wife.
73.Marriage tax payable on marriage after election.
74.Times of payment of marriage tax.
75.Alterations of marriage tax.
76.Particulars of marriage, etc., to be provided by contributors.
77.Penalty for failure to pay half-yearly contributions.
78.Interest on payments in arrear.
79.As to payment of half-yearly contributions, etc., of deceased contributors.

E. Payment of annuities

80.Payment of annuities to widows.
81.More than one annuity payable to widows.
82.Annuities to be alimentary.
83.Power to introduce new classes of beneficiaries.
84.Rate of annuity to continue until altered.

F. Alteration of amount of annuities

85.Periodical investigation of widows' fund.
86.Contributors may alter amount of annuity.
87.Conditions of increase of annuity.
88.Conditions of reduction of annuity.

G. Dissolution of widows' fund

89.Purchase of annuities.
90.Application of residue of widows' fund.
91.Widows' fund to be dissolved.

Part VI Endowments trust

A. Incorporation Powers, etc., of Endowments Trust

92.Powers of endowments trust.
93.Endowments trust fund vested in endowments trust.
94.Constitution of endowments trust.
95.Election and period of office of members of endowments trust.
96.Filling of vacancies among elected members of endowments trust.
97.Meetings of endowments trust.
98.Chairman of endowments trust.
99.Quorum of meetings of endowments trust.
100.Committees of endowments trust.
101.Proceedings of endowments trust not to be invalidated by vacancies, etc.
102.Appointment of officials by endowments trust.
103.Endowments trust may provide pensions, etc., for officials.
104.Application of income of endowments trust fund.
105.Power of endowments trust to borrow.
106.Reserve fund of endowments trust.
107.Accounts to be kept by endowments trust and audited.

B. Payments, etc., to beneficiaries

108.Classes of beneficiaries.
109.Minimum amount and terms of pensions.
110.Endowments trust may provide houses, etc., for beneficiaries.
111.Election of beneficiaries.
112.Applications for pensions, etc.

C. Fraser Trust

113.Definitions for purposes of Head C.
114.Sir William Fraser Homes to be maintained.
115.Qualifications of persons to occupy Sir William Fraser Homes.
116.Election of occupants.
117.Rights of occupants of Sir William Fraser Homes.
118.Constitution of Fraser trustees.
119.Fraser trustees to be members of committees to administer Sir William Fraser Homes.
120.Application of funds retained by Fraser trustees.
121.Fraser trustees may transfer remaining assets to endowments trust.

D. Russell and Foster Endowment

122.Russell and Foster Endowment vested in endowments trust.
123.Income of Russell and Foster Endowment to be applied in payment of pensions.
124.Qualifications of Russell and Foster pensioners.
125.Amount, etc., of Russell and Foster pensions.
126.Designation of Russell and Foster beneficiaries.

E. Variation of trusts
127.Variation of trusts.

Part VII Joint committee

128.Re-establishment of joint committee.
129.Election and period of office of members of joint committee.
130.Filling of vacancies in joint committee.
131.Meetings of joint committee.
132.Chairman of joint committee.
133.Quorum of meetings of joint committee.
134.Proceedings of joint committee not to be invalidated by vacancies, etc.
135.Powers of joint committee.

Part VIII Miscellaneous and general

136.Execution of deeds.
137.Powers of investment.
138.Borrowing and lending inter se by Company, widows' fund, endowments trust and education board.
139.Donations, etc., may be received.
141.Discharge of members, contributors, officials and others.
142.Saving for town and country planning.
143.Costs of Order.