QLDIn ForceAct
Financial Intermediaries Act 1996
sec.78Society and members to be bound by rules
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sec.78 Society and members to be bound by rules
A society’s rules bind the society, all its members, and all persons claiming through the society or a member, to the same extent as if— each member had subscribed his or her name and attached his or her seal to the rules; and there were contained in the rules a covenant on the part of each member and the member’s legal representative to observe all the rules subject to this Act and the standards.
- (a) each member had subscribed his or her name and attached his or her seal to the rules; and
- (b) there were contained in the rules a covenant on the part of each member and the member’s legal representative to observe all the rules subject to this Act and the standards.