RULES OF THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LTD. RULE I. NAME

RULES OF THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LTD. RULE I. NAME The Society shall be called "THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LIMITED". RULE II. OBJECTS The objects of the Society are to promote thrift among its members and to make loans to its members at reasonable rates of interest, and otherwise to assist members as may be necessary and expedient. WITHOUT PREJUDICE to the generality of the foregoing the Society may establish and/or administer any fund or funds constituted in such manner and for such purposes and subject to such terms and conditions as the Society may approve and may receive hold invest or otherwise deal with deposits or contributions in and to such funds from members of the Society and do all such ancillary or connected acts or things as the Society may deem advantageous for the furtherance of the purposes of any such Fund. RULE III. REGISTRATION The Society shall be limited and registered under the Industrial and Provident Societies Act [hereinafter referred to as "The Act"]. RULE IV. REGISTERED OFFICE The Registered Office of the Society, to which all communications and notices shall be addressed, shall be No. 10 Caledonia Avenue, Cross Roads, in the Parish of St. Andrew or at such other place in Jamaica as the Committee may from time to time determine, and notice of the situation of such office, and of every change therein, shall be sent to the Registrar. 1

RULE V. MEMBERSHIP 1. Membership in the Society shall be limited to members of the Jamaica Civil Service Association who are; a. (i) Employees of the Public Service on a permanent basis; (ii) Employees of Executive Agencies and other Parastatal Bodies (Statutory Bodies and Government Companies) who are permanently employed and whose application shall be approved at the discretion of the Committee of Management. b. Pensioners of the Public Service and Executive Agencies; c. Other Societies registered under the Industrial and Provident Societies Act whose membership is limited to members of the Jamaica Civil Service Association such member of the Society being deemed a person for the purpose of this Rule and other Rules of the Society in so far as the same may apply. 2. Every person desirous of becoming a member of the Society shall forward an application to the Secretary in the form prescribed stating the number of shares he desires. 3. Every person who has paid his First Instalment on the shares allotted to him shall be deemed to be a Member of the Society. 4. The Committee may determine the membership of any Member or permit the withdrawal of his share capital, if they consider it expedient in the interest of the Society to do so, without assigning any reason as to the determination, and may cancel the shares allotted to such Member on payment to him in cash of the amount standing to his credit, after deducting all loans due by such Member, in the books of the Society at the date of such withdrawal or determination: the Register shall forthwith be amended and such Member shall not be entitled to any profits of the Society which may not then have been declared. Provided that the share capital withdrawn in any one year shall not exceed one-twentieth of the Share Capital of the Society at the 30th November of the preceding year. 5. Any member changing his address shall forthwith notify the Secretary in writing of such change of address and the Secretary shall make the necessary alteration in the Register of Members. 6. In the event of a member being absent from the island on leave without pay, the Committee shall be empowered to suspend payment of instalments of shares and loans, and postpone payment of interest on loans. 7. In the case of any member leaving the Jamaica Civil Service for any reason whatever, the Committee may act as set out in sub-section 4 of this Rule. 8. Any member may withdraw, from membership in the Society, or his share capital by application in writing to the Committee of Management. The Committee may act as set out in sub-section 4 of this Rule. 9. No member may withdraw from membership in the Society while a borrower, an endorser, or a guarantor on any loan due to the Society. 2

RULE VI. GENERAL MEETINGS 1. The Financial Year of the Society shall end on the 30th day of November in each year, and the Annual General Meeting of the Society shall be held within three months after the close of the Society's year. At this meeting: a. The Income and Expenditure Account and Balance Sheet b. The Report of the Auditors thereon, and c. The Report of the Committee of Management shall be presented for consideration and to sanction appropriation and distribution of any profit. Twenty-five members of the Society shall form a quorum at the Annual General or any Special General Meeting, provided that if, on the date and at the time set for such Annual General Meeting or Special General Meeting, there be not sufficient members present to form a quorum at the expiration of one hour, the meeting shall be adjourned to a date to be not later than fifteen days thereafter as may be fixed by the Chairman, and twenty members including one Officer who attend the adjourned meeting shall be deemed to form a quorum for the purpose of transacting the business on the Agenda. Notice of an Annual General or Special General Meeting shall be issued not less than fourteen days before the date of such meeting, provided that, in the case of a postponed General Meeting, notice by advertisement in a Daily Newspaper shall constitute sufficient notice notwithstanding the provision of Rule XXVI - 1. 2. Special General Meetings of the Society shall be summoned by direction of the Committee of Management or on the requisition of not less than 10 members of the Society within three weeks of the receipt of such requisition. The nature of the business to be discussed must be stated in the requisition. Notice of a Special General Meeting 'shall be issued not less than fourteen days before the date of such meeting and shall not be valid unless such notice states shortly and concisely the nature of the business to be dealt with at such Meeting. Only such matters as are included in the notice shall be discussed. 3. Members in arrears of subscription to shares, principal, interest, or other charges on loans or advances made on their behalf for a period of thirty days shall not be entitled to vote at any General Meeting. RULE VII. VOTING Every question submitted to any meeting shall be decided by the votes of the majority of those present and entitled to vote; such vote shall first be taken by a show of hands, upon which the decision of the Chairman of such meeting shall be final, unless a scrutiny be demanded, in which case it shall forthwith be taken by ballot, counting or otherwise as the Chairman may decide. If there be an equality of votes the Chairman shall give a casting vote in addition to his vote as a member. RULE VIII. REGISTER A Register shall be kept in which shall be entered the names and addresses of members of the Society, the number of shares held by them respectively, the numbers of such shares if they are distinguished by numbers and the amount paid or agreed to be considered as paid on any such shares. The names of all persons who cease to be members of the Society shall be removed from the Register. RULE IX. LIEN ON SHARES The Society shall have a lien on the shares of and any dividend due to any member for any debt due to it by him, and may set off any sum credited to the member thereon, in or towards the payment of such debt. 3

RULE X. NOMINATIONS The Secretary shall keep a book in which he shall register or record all nominations made by members of the Society of any person or persons [other than an Officer or servant of the Society unless such Officer or servant is the husband, wife, father, mother, child, brother, sister, nephew, niece of the nominator] to whom his property in the Society whether in shares or loans or so much thereof as specified in such nomination if the nomination does not comprise the whole shall be transferred at his decease provided that the amount credited to him in the books of the Society does not exceed $200. The Secretary shall in like manner record or register all revocations or variations of such nominations by the nominator. The nominator shall pay such fees as prescribed by the Committee of Management for the recording or registering of every such nomination or variation. RULE XI. TRANSFER OF PAYMENT TO NOMINEE On receiving satisfactory proof of the death of a nominator the Committee shall if the person entitled under the nominations is eligible for membership either transfer the property comprised in the nomination in manner directed by it or pay to every person entitled thereunder the full value of the property given to him unless the shares comprised therein if transferred as directed by the nominator would raise the share capital of any nominee to an amount exceeding $400 in which case they shall pay him the value of such shares within three months after proof of death. An entry of such payment shall be made in the proper book and thereupon the shares so paid for shall be extinguished. RULE XII. DEATH OF MEMBER INTESTATE If any member entitled to property in the Society in respect of shares or loans not exceeding in the whole at his death $200 dies intestate without having made any nomination thereof then subsisting, the Committee may within three months after proof of the claim without letters of administration distribute the same among such persons as appear to them on such evidence as they deem satisfactory to be entitled by law to receive the same. RULE XIII. DEATH OF A MEMBER TESTATE If any member entitled to property in the Society not exceeding $200 dies leaving a Will and without having made any nomination then subsisting or if any member entitled to property in the Society exceeding $200 dies such property shall within three months after proof of the claim be payable only to his executors or administrators subject as aforesaid. RULE XIV. BANKRUPTCY If any member becomes bankrupt his property in the Society shall vest in the Trustee in Bankruptcy. RULE XV. LUNACY If a member or person claiming through a member of the Society is insane and no committee of his estate or Trustee of his property has been duly appointed the Society may, when it is proved to the satisfaction of the Committee that it is just and expedient so to do, pay within three months after proof of the claim the amount of shares loans and deposits not exceeding S200 belonging to such member or person to any person whom they shall adjudge proper to receive the same in his behalf whose receipt shall be a good discharge to the Society for any sum so paid. 4

RULE XVI. DECEASED OR INSANE MEMBER INDEBTED TO THE SOCIETY In the event of the death or insanity of any member who is indebted to the Society for a loan obtained by him on security other than the paid up value of his shares the Committee shall have power to act in accordance with the provisions of paragraph 3 of Rule XXI. RULE XVII. MANAGEMENT 1. The Officers of the Society shall be a Chairman, a 1st Vice Chairman and a 2nd Vice Chairman who shall each be holders of not less than 200 shares. They shall be elected from among the Members of the Committee of Management and shall have served in that capacity for not less than two terms. The Officers shall each hold office for a period of two years, and shall retire on a rotating basis with the Chairman and 1st Vice Chairman retiring in the same year and the 2nd Vice Chairman retiring in the alternate year. They shall thereafter be eligible for re-election; 2. Chairman: The Chairman shall preside at all meetings of the Society and of the Committee. He shall sign the Report and Financial Statement to be laid before the Annual General Meetings of the Society, which shall previously be submitted to and be approved by the Committee. 3. The 1st Vice-Chairman shall perform the duties of the Chairman in his absence. In the absence of both Chairman and 1st Vice-Chairman, the 2nd Vice-Chairman shall perform the duties of the Chairman. In the event of the Chairman and both 1st and 2nd Vice-Chairmen being absent from any meeting of the Society or Committee, the meeting shall elect its Chairman. 4. Secretary: The Secretary shall be appointed by the Committee on such terms and conditions as may be agreed on by the Committee. He shall summon and attend all meetings of the Society and Committee and Sub-Committees and shall take notes of the proceedings. The Minutes of all such meetings shall be entered in a minute book which shall be kept at the registered office of the Society and shall be open for the inspection of all members of the Committee at all times. He shall have the custody of all books records and vouchers of the Society and shall be responsible for the proper keeping of same and the entries made therein. He shall also be responsible for the proper conduct of the Society's affairs under the direction of the Committee and shall countersign all cheques drafts and notes drawn and made by the Society. He shall receive all contributions and other payments and sums due to the Society and shall lodge same to the credit of the Society's Account at such times as the Committee may direct. Cheques for lodgment to such account shall be endorsed by the Secretary on behalf of the Society. 5. The Secretary shall give bond in some Bonding Company to be approved by the Committee in such amount as the Committee may from time to time direct. The Society shall pay the costs of any such Bonding Policy. RULE XVIII. COMMITTEE OF MANAGEMENT 1. The business of the Society shall be conducted by a Committee of Management consisting of the Officers and not more than nine members, each of whom shall be holders of not less than ten shares. Three of such members shall retire annually by rotation in order of seniority of appointment, but shall be eligible for re-election. Five members of the Committee shall form a quorum. They shall meet at such times and at such places as they may deem fit, and shall be empowered to defray from the funds of the Society the expenses [including the payment of salaries and fees] for conducting the business of the Society. 2. The following persons shall constitute the first Committee of Management: - Chairman: Mr. W. M. Fraser, I.S.O.; Vice-Chairman: Mr. G. C. Gunter and the following eight members; - Messrs. C. R. Campbell, G. H. 5

Scott, A. O. Ritchie, G. R. Johns, H. M. White, E. A. Gadishaw; E. C. Innerarity and E. L. Jack, and thereafter the Members of the Society in Annual General Meeting shall elect the Chairman, Vice-Chairmen and the three Committee members in place of those retiring. 3. The Seal of the Society shall be under the control of the Committee and shall be affixed only on such documents as are approved by resolution of the Committee. 4. No person shall be eligible to be elected as an Officer or Member of the Committee if he is in arrears for 30 days with any payment which may be payable by him to the Society. 5. The Committee may grant leave of absence to any Officer or member of the Committee and may appoint some other member to act for such Officer or member of the Committee during the period of leave. Any member of the Committee who without leave of absence obtained from the Committee shall fail to attend three consecutive meetings of the Committee shall cease to hold Office on the Committee. 6. If vacancies among the Officers or Members of the Committee shall occur between two Annual General Meetings or before the substantive office holder or member was scheduled to retire, the Committee shall elect a member of the Society to fill such vacancy and such member so elected shall continue in office until the next Annual General Meeting, when elections shall be held to fill the vacancy. The Committee may act notwithstanding any such vacancy. 7. The Committee shall from time to time be entitled to make repeal and amend all such bye-laws and regulations [not inconsistent with these Rules] as they shall think expedient for the internal management and well-being of the Society. All bye-laws and regulations made by the Committee under this paragraph shall be binding on the members until repealed by the Committee or set aside by resolution of a Special General Meeting of the Society. RULE XIX. CAPITAL 1. The Capital of the Society shall be raised by shares of the value of Two Dollars each payable at the rate of not less than twenty cents a month. Provided that the holding of any member other than a member Society, in his own right, shall not exceed 200 shares. 2. Each instalment shall be payable on or before the last day of each month in respect of that month to the Secretary of the Society or such other person as the Committee may determine. 3. Shares may be transferred with the consent of the Committee to any person who is or shall become a member of the society. All applications to transfer shares shall be made to the Secretary on the form prescribed. A fee of five cents in respect of each share to be transferred must accompany the application form. 4. Except in the case of death, bankruptcy, or lunacy of any member, if the instalments payable by any member shall continue in arrears for three months such shares may be cancelled. Whereupon such member may be granted such sum as the Committee may determine in respect of the amount at his credit; provided however that no refunds shall be made until after three months from the date of the cancellation of the shares. 5. The dividend payable on the share capital held by any member shall not be paid to him until all arrears in respect of shares which have been allotted to him and instalments due on loans and interest, have been paid. 6. The Committee shall have power to receive deposits and/or obtain loans at interest from Members, other persons, Member Societies or from Banks, Bodies Corporate or non-corporate or from Joint Stock Companies or Building Societies to be applied for the purposes of the Society: a. to the full extent of the loans made by the, Society on the security of real property and in respect of loans guaranteed by the Government of Jamaica 6

b. to the extent of two-thirds of the amount at any time secured to the Society by Promissory Notes and other Assets. They shall from time to time arrange with the lenders and depositors the rate of interest upon such loans and deposits and the terms of notice for the withdrawal of same. 7. The Committee may from time to time invest any part of the capital and funds of the Society in or upon any security in which the Trustees are for the time being and from time to time authorized by Law to invest. 8. The Shares of the Society shall be under the control of the Committee who shall decide the number of shares which may from time to time be allotted to a member The Committee may allot a lesser number of shares to a member than those for which he has applied. 9. The monthly payment made by members, in respect of shares allotted to them and not fully paid for on allotment shall until payment in full of all the shares, allotted at one time be calculated on the total number of shares so allotted. 10. A member shall on the allotment of shares to him as aforesaid pay for such shares in full or make such arrangements for monthly payments as may be suitable to the Committee. Similarly, arrangements shall be made by the Committee for the repayment of Loans and the payment of interest, etc., by members. RULE XX. INDEMNITY OF OFFICERS The Officers of the Society shall be and hereby indemnified and saved harmless out of its funds and property from all losses, costs, charges, damages and expenses which they may properly incur or be put to in execution of their lawful duties. RULE XXI. EMPLOYMENT OF FUNDS 1. The Committee may if they think fit invest any part of the Capital or Funds of the Society: a. In any security authorized by Section 35(1) (a) (b) and (c) of the Act. b. In any Bank doing business in Jamaica. c. In making advances to members on the security of real or personal property or such personal guarantees as the Committee or a Sub-Committee thereof may determine; provided that if the security be a Promissory Note loans may, within the discretion of the Committee of Management, be granted to members in accordance with Bye- Laws as may be approved by the Committee of Management from time to time. Provided that the Committee shall accept, as security pari passu with its own shares, the shares of a member in a Member Society as defined by RULE V. - MEMBERSHIP. 2. Every member receiving a loan from the Society shall pay at such rates of interest monthly as the Committee may decide and subject to such conditions of repayment as the Committee in each case may from time to time determine. Provided however that members whose loans are fully covered by the amount at their credit in the Society shall pay at such lower rate of interest as may be fixed by the Committee. 3. In case of failure on the part of any borrower to pay the interest due in respect of any loan at the dates fixed or to repay instalments of the principal or the principal as a whole in the event of his failure to comply with the obligations undertaken being prolonged beyond the space of three months may seize the defaulting member's share or shares as far as may be requisite to cover the debt and expel the defaulting member. Such share or shares shall either be transferred for sale to any other member or forfeited as the Committee shall decide and the Committee by 7

resolution to that effect shall authorize the Secretary for the time being or such other person or persons as they shall appoint to execute the necessary transfer as though the person or persons so appointed were the Registered Holder of such shares and thereupon such transfer shall be acceptable as though executed by the Registered Holder, or, in the event of the shares being forfeited, to cancel such shares whereupon such shares shall cease to form part of the shares of the Society and the records shall be amended accordingly. Any balance remaining to the expelled member's credit shall be handed over to him subject to the provisions laid down in Rule XIX sub-section 4. Any balance of the debt left unsatisfied may be recovered as provided by section 22 of the Act. 4. Application for loans shall be made to the Secretary on the form prescribed and he shall cause same to be placed before the next meeting of the Committee. Such applications shall be dealt with strictly in the Order in which they have been received. The Committee shall have power to grant, reduce or refuse applications for loans. 5. No loans shall be made to a member unless he has been a member of the Society for at least one month prior to the making of the loan and is not in default with any payments to the Society. 6. In granting an application for a loan in the exercise of its powers as aforesaid, the Committee may impose such terms and conditions as it may deem expedient including a condition that the applicant shall make deposits or contributions to any fund established and/or administered by the Society pursuant to Rule II of these Rules. 7. Provided that loans in excess of the amount of his shareholding shall only be made to such members whose subscriptions to The Jamaica Civil Service Association have been fully paid up to the thirtieth day of November immediately preceding the date on which the application is made. RULE XXII. PROFITS The profits of the Society shall be applied as follows: a. In building up a Reserve Fund. b. In establishing a Reserve Account for bad and doubtful debts. c. In payment of dividend on the Share Capital of the Society. Such dividend may be declared by the Committee of Management and ratified by members in Annual General Meeting. RULE XXIII. AUDITORS There shall be one or more Auditors who shall be appointed by the members at the Annual General Meeting of the Society. They shall hold office for one year and shall be eligible for re-election. The Committee shall at all times with or without notice afford the Auditors every possible facility in discharging the duties imposed upon them and shall grant them access to all the books, deeds, documents and accounts of the Society and shall permit them to examine every balance sheet of the Society. The Auditors shall certify as to the correctness of the balance sheet of the Society or report to the members in what respect they find it unvouched or otherwise incorrect. They shall receive such remuneration as may be fixed by the Committee which shall have power to fill any vacancy among the Auditors. 8

RULE XXIV. RESERVE FUND A Reserve Fund shall be created for the strengthening of the credit of the Society and for the liquidation of Capital losses which may from time to time arise; such portion of the profits as may be approved by the members in General Meeting shall be carried to the credit of this Fund. RULE XXV. ALTERATION OF RULES These rules and regulations may be added to, amended, altered or rescinded by a majority of two-thirds of the members present and entitled to vote at any Annual General Meeting or at any Special General Meeting called for the purpose. Copies of all proposed resolution to add to, amend, alter or rescind any of the rules and regulations must have been forwarded to the Secretary of the Society twenty-one clear days before the date of the Meeting. The Secretary shall notify the members of such proposed amendment at least seven days before the date of such meeting. RULE XXVI. NOTICES 1. Every notice requiring to be served on a member may be sufficiently served by being left at his last place of abode as described in the Register, or mailed to him there and such notice shall in all cases be deemed served as from the time such notice is left or posted as aforesaid. 2. In no case shall the proceedings of any meeting of members be held void or voidable on account of the omission to give, or of any defect in, the notice as required by these rules unless an objection on such grounds be taken previously to entering on the business of the meeting. 3. Copies of all notices sent out to members shall be posted up on the notice board which shall be kept in the office of the Society. RULE XXVII. CONSTRUCTION OF RULES In the construction of these rules the following words and expressions shall have respectively the meaning following unless the subject matter or context is inconsistent therewith. a. Words importing the singular or plural number shall respectively include the plural and singular number. Words importing the masculine gender shall include the feminine and vice versa. b. "The Committee" shall mean the Committee of Management of the Society. c. The word "Society" shall mean The Jamaica Civil Service Mutual Thrift Society Ltd. d. The word "Month" shall be held to be calendar month; the word "Year" or "Financial Year" shall mean the Society's year. 9

RULE XXVIII. GENERAL 1. The Committee shall cause a proper Register to be kept of all mortgages and charges specifically affecting the property of the Society. 2. Members shall only be entitled to receive dividends on shares fully paid up. Holders of shares which have been fully paid up during the year in respect of which the dividend has been declared shall only be entitled to a proportionate part of such dividend calculated from the first day of the month following such payment in full. Provided that when the payment made by a member on account of shares allotted to him shall amount to Two Dollars he shall likewise qualify for a proportionate part of such dividend calculated from the first day of the month following such payment. RULE XXIX. BANKERS The Bankers of the Society shall be the Bank of Nova Scotia or such other Bank as the Committee may from time to time determine and such Bank or Bankers shall be advised by forwarding a copy of a resolution passed at a meeting of the Committee setting out the persons authorized by the Committee to sign Cheques, Bills of Exchange, Promissory Notes and other negotiable instruments on behalf of the Society and of all changes that may take place in the same from time to time. This copy of the resolution shall be signed by the Chairman or a Vice-Chairman for the time being and countersigned by the Secretary for the time being. RULE XXX. STATUTORY DUTIES The Statutory duties of the Society save where they are already specified in these rules are contained in the schedule of this rule. 10

SCHEDULE a. The Society shall 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 and have its registered name engraven in legible characters on its seal and have its registered name mentioned in legible characters in all notices, advertisements, letter heads 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 of parcels, invoices, receipts and letters of credit of the Society. b. 1. The Society shall once in every year not later than the 31st day of March send to the Registrar an annual return of the receipts and expenditure funds and effects of the Society as audited. 2. The Annual Return - i. shall be signed by the Auditor; and ii. shall show separately the expenditure in respect of the several objects of the Society; and iii. shall be made out from the date of the registration or last Annual Return to that of its last published balance sheet, provided that the last named date is not more than one month before or after the thirty-first day of December then last or otherwise to the said day of December inclusive; and iv. shall state whether the audit has been conducted by a public auditor appointed as by this law is provided and by whom, and, if by any persons other than a public auditor, shall state the name, address, and calling or profession of every such person, and the manner in which, and the authority under which, he is appointed. v. The Society shall, together with the Annual Report, send a copy of the report of the auditors or, if more than one such report has been made during the period included in return, a copy of each of such reports. c. The Society shall supply gratuitously to every member or person interested in the funds of the Society, on his application, a copy of the last annual return of the Society for the time being. d. The Society shall keep a copy of the last balance sheet for the time being, together with the report of the auditors, always hung up in a conspicuous place at the registered office of the Society. e. 1. Save as provided in the Act no member or person shall have any right to inspect the books of the Society. 2. Any member or person having an interest in the funds of the Society shall be allowed to inspect his own account and the books containing the names of the members at all reasonable hours at the registered office of the Society, or at any place where the same are kept, subject to such regulations as to the time and manner of such inspection as may be made from time to time by the general meetings of the Society. 3. The Society may by any of its registered rules authorise the inspection of any of its books therein mentioned, but no person, unless he be an officer of the Society, or be specially authorised by a resolution thereto, shall have the right to inspect the loan or deposit account of any other member without such other member's written consent. f. A copy of every special resolution for any of the purposes mentioned in the Act signed by the Chairman of the meeting at which the resolution was confirmed, and countersigned by the Secretary of the Society, shall be sent to the Registrar and registered, and until that copy is so registered the special resolution shall not take effect. 11

RULE XXXI. MEMBER SOCIETIES Where the Rules of a Member Society provide for the repayment of Share Capital in a manner similar to the provisions of the following Rules - RULE X- RULE XI - RULE XII - RULE XIII -- RULE XIV - NOMINATIONS TRANSFER OF PAYMENT TO NOMINEE DEATH OF A MEMBER INTESTATE DEATH OF A MEMBER TESTATE BANKRUPTCY RULE XV - LUNACY or such other provisions as are consistent with the Rules of the Society; the Society shall refund to the Member Society sufficient funds to meet such liability and shall cancel such shares belonging to such Member Society as shall be sufficient to cover the amount so refunded. Provided however if such a Member of a Member Society shall be indebted to the Society. Rule XVI - Deceased or Insane Member indebted to the Society shall apply. RULE XXXII- APPOINTMENT AND ELECTION OF OFFICERS AND MEMBERS OF THE COMMITTEE 1. Subject to Rule XVII (1) no person other than the retiring Officer of the Society shall be eligible for election at any Annual General Meeting at which an Election to the Offices of Chairman, 1 st Vice Chairman and 2 nd Vice Chairman respectively is due. 2. No person other than the retiring members of the Committee shall be eligible for election at any Annual General Meeting as a member of The Committee in place of a retiring member unless he shall be duly nominated in accordance with the provisions of paragraph (3) and (4) of this Rule. 3. Not less than (30) clear days before the date of each Annual General Meeting there shall be given to each member of the Society notice of the place, time and date of the forthcoming Annual General Meeting. The notice shall also state the names of the retiring Chairman, 1 st Vice Chairman and 2 nd Vice Chairman and Members of the Committee; that nominations to fill the vacancies must be received not later than (21) clear days before the date of such meeting; that nominations must be in writing signed by proposer and seconder and must state that the consent of the person nominated has been obtained; and that nominations must be sent to the registered office of the Society; save and except members reserve the right to make nominations for Committee Members from the floor, where such member previously, not less than seven days before the date of such meeting, notified each member of the Society in writing before the date of such meeting, acceptance of such nomination subject to the approval of the Annual General Meeting. 4. The name of each person so nominated, shall be notified to each member of the Society not less than seven (7) days before the date of such meeting. 5. In relation to the election of Officers and members of the Committee, where a scrutiny be demanded and the chairman decides such vote be taken by ballot, voting shall be by secret ballot in writing by each member present at the meeting and desirous of voting and each member shall cast one ballot recording the name or names of the candidate of his choice provided the number of names so recorded shall not exceed 12

the number of places to be filled. 6. The Chairman shall announce the result of the election of officers and Members of the Committee at the close of the poll and shall announce the names of the persons elected to the offices in lieu of the retiring Officers and Members of the Committee. 7. If any member of the Society has any objection to the manner in which the proceedings have been conducted the objection must be raised before the meeting is adjourned. 8. If no objection is raised at the meeting the results announced by the chairman shall be final and the persons named are deemed to be elected as Officers and as Members of the Committee. 9. A notice or notification under the Rule shall be validly served if served in accordance with RULE XXVI paragraph (1) of the Rules of the Society. BYE-LAW 1 BYE-LAWS (Under provisions of Rule XVIII - 7) When the Committee shall have by Resolution approved of the Seal of the Society being used on any documents the Seal shall be affixed by the Secretary in the presence of at least one Member of the Committee of Management and the Chairman or a Vice-Chairman; the Secretary (or officers duly appointed to act in their stead) and such Member of the Committee shall sign such documents. BYE-LAW 2 The Committee shall deliver to any Member, free of charge, who so requires a Certificate of Shares in the form set out below; such Certificate shall be signed and sealed as set out in Bye-Law 1. 13

THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LTD. CERTIFICATE OF SHARES (Registered under the Industrial and Provident Societies' Law, Chapter 159 Revised Edition 1953) This is to certify that... is the registered holder of... ( ) fully paid up shares of Two Dollars each in THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LIMITED subject to the rules of the Society. GIVEN under the Common Seal of THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LIMITED this... day of one thousand nine hundred and...... Chairman... Secretary... Member of Committee 14

BYE-LAW 3 Any member desirous of transferring shares in accordance with the provisions of Rule XIX Sub-section 3 shall effect the same by the use of the following form: THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LTD. TRANSFER OF SHARES I... of... in the Parish of... IN CONSIDERATION of the SUM of... Dollars and... Cents paid me by... of... in the Parish of DO HEREBY TRANSFER cum. div. to the said... the... SHARES standing in my name in the books of THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LIMITED to hold unto the said... his Executors Administrators and Assigns subject to the several conditions on which I held the same, AND I the said DO HEREBY AGREE to take the said SHARES subject to the same conditions. AS WITNESS OUR HANDS the.... day of...19 Witnesses to Signatures: BYE-LAW 4 All applications for loans shall be made either on the Application Form "A" or "B" as the circumstances require. 15

File No. - Ministry or Department The Secretary, THE JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LIMITED Office Address Home Address APPLICATION FOR LOAN (A) 19 I hereby apply for a loan of $ (which will increase my liability to $ : ). I propose to pay interest and Loan by monthly instalments of $ : plus $ : for shares in the Society. Dependents... Grade... Salary... p.a. Date of Birth... Subs J.C.S. Assn. paid to / /19 Signature FOR OFFICE USE ONLY Share.. X.Loan.. Loan..Loan.. Other payments.. CHEQUE/ORDER NO Security offered where necessary. 16

JAMAICA CIVIL SERVICE MUTUAL THRIFT SOCIETY LIMITED APPLICATION FOR LOAN (B) Acct. No Ministry or Department Office Address Home Address Date Full Names of Applicant Date of Birth Substantive Post and Grade Gross Annual and Net Monthly Salary Number of Dependents No. of Shares/Rate of Subscription Amount Required Purpose(s) for which Required SECURITIES SURETIES Post/Salary MIN./DEPT. Proposed Repayment Instalment Signature PAYMENTS FOR OFFICE USE ONLY OTHER PAYMENTS LOANS (N0. 1 $ : x $ : per month (No. 2 $ : x $ : per month (No. 3 $ : x $ : per month P/LOANS $ : x $ : per month SHARES $ : x $ : per month TOTAL $ + Terms 17

APPEROVED BY THE COMMITTEE.... BYE-LAW 5 Seniority of members of the Committee of Management shall be determined by date of appointment, provided that where appointments take effect from the same date, seniority as between such appointments shall be determined in ascending order by the number of votes secured in respect of the appointment, or in the eventuality that there is still no conclusive determination, then seniority shall be determined by the alphabetical sequence of the letters contained in the respective surnames of the appointees, whose seniority is being determined. BYE-LAW 6 Persons applying for membership in the Society shall apply for not less than twenty-five shares and shall pay not less than Five Dollars a month for such shares. 18