(h) "employee" means a person who is a full-time paid staff of the Society;

(i) "honorarium" means a portion of the net surplus of the Society distributed among

some or all of the members of the Board in consideration of their services which

would not otherwise be remunerated;

CD "members" means any person, trade union or co-operative society, duly admitted to

the membership of the Society in accordance with the By-Laws;

(k) "net surplus" means the remaining portion of the surplus after provisions have been

made for the Reserve Fund, the Central Co-operative Fund and the Singapore

Labour Foundation in accordance with Sections 70 and 71 of the Act;

(1) "officer" includes a Chairman, Vice-Chairman, Secretary, Assistant Secretary,

Treasurer, Assistant Treasurer, member of the Board of Directors, employee, or

other person empowered under the Act, the Rules or the By-Laws to give directives

in regard to the business of the Society or to supervise such business;

(m) "patronage refund" means a portion of the net surplus of the Society distributed

among the members in proportion to the volume of business done by them with the

Society from which the surplus of the Society was derived;

(n) "Registrar" means the Registrar of Co-operative Societies and the Assistant

Registrars of Co-operative Societies appointed under Section 3 of the Act, and

includes a person exercising such powers of the Registrar as may have been

conferred upon him under that Section;

(0) "Rules" means the Co-operative Societies Rules, 1979 or any rule made under the

Act for the time being in force in Singapore;

(P) "Society" means the NTUC INCOM~ Car Co-operative Limited;

(q) "surplus" means the economic results of the Society less all items of expenditure

including provisions for depreciation and bad debts;

(r) "trade union" means any association which is registered as a trade union of

employees under the Trade Unions Act (Cap 333);

(s) Words importing the masculine gender shall include the feminine gender and words

importing the singular shall include the plural. "He", "him" or "persons" shall

include a trade union or a co-operative society or the Sin~eA()~~~our Foundation.

~ ~. C[l~

Mr. Yeow Hwee I

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