Page:Royal Society of New Zealand Act 1997.pdf/5

1222 '''8. No dividend or profit to members'''—(1) The income and property of the Society must be applied solely towards the object of the Society, and (except as otherwise provided in this Act) no portion of the income and property of the Society may be paid directly or indirectly by way of dividend, bonus, or otherwise to members.

(2) This section does not prevent—

9. Membership of Society—The membership of the Society consists of the following:

'10. Fellows—(1) The Academy Council may from time to time, in accordance with the Academy bylaws, elect as a Fellow any person who in the opinion of the Academy Council has achieved distinction in research or the advancement of science or technology.

(2) The number of Fellows is limited to such number as is agreed from time to time between the Academy Council and the Council.