Membership Conditions

(As extracted from the Townsville Enterprise Constitution)

8. MEMBERSHIP

8.1 The members of the Company and such other persons as the Board shall admit to membership in accordance with this Constitution shall be members of the Company.

8.2 The Board may in its absolute discretion:
(a) appoint persons to be Life Members of the Company upon such terms as it may think fit; and
(b) appoint persons to be Associate Members of the Company upon such terms and conditions as it may think fit. Despite anything to the contrary contained in this Constitution, Associate Members are entitled to notice of, and to attend, but are not entitled to vote whether as a proxy or otherwise at meetings of the Company and may not become a director of the Company but shall otherwise enjoy the rights and benefits and be subject to the obligations of a Member.

8.3 Every applicant for membership of the Company shall apply in writing to the Board to be a member in such form as may be prescribed by the Board.

8.4 Upon receipt of an application for membership, it shall be considered by the Chief Executive Officer or another nominated delegate who shall determine the admission or rejection of the applicant. The Board or the Chief Executive Officer or another nominated delegate is not required to give any reason for the rejection of an application.

8.5 When an applicant has been accepted for membership a nominated delegate of the Company shall send to the applicant written notice of the acceptance and a request for payment of the Entrance Fee and first Annual Subscription. Upon payment of the Entrance Fee and the first Annual Subscription the applicant shall become a member or Associate Member of the Company as the case may be. In the event that the payment specified in this Constitution is not made within two (2) calendar months after the date of the notice, the Chief Executive Officer or another nominated delegate may at his/her discretion cancel the member's membership in the Company.

8.6 The Annual Subscription payable by members of the Company shall be such amount as the Board may from time to time determine and the Board shall have power to set different annual subscriptions in relation to different classifications of membership which may be set from time to time by the Board.

8.7 All Annual Subscriptions shall become due and payable in advance on the first day of July, in every year or upon such other date as the Board may determine.

8.8 In the event that a member becomes a member of the Company on a day other than the first day of July in any given year, the member must pay to the Company:
(a) the Entrance Fee as required by Rule 8.5;
(b) the First Annual Subscription; or
(c) if agreed by the Directors from time to time, a proportionate part of the First Annual Subscription, such proportionate part to be determined in the absolute discretion of the Directors from time to time.


9. CESSATION OF MEMBERSHIP

9.1 If the subscription of a member shall remain unpaid for a period of two (2) calendar months after it becomes due then the member may be debarred, by resolution of the Board, from all privileges of
membership. In any event, the Board may, in its absolute discretion, reinstate the member on payment of all arrears.

9.2 A member may resign membership of the Company by giving notice to the Chief Executive Officer or another nominated delegate. The resignation takes effect on the date of receipt of the notice of
resignation by the Company or any later date provided for in the notice. However, the member shall continue to be liable for any Annual Subscription and all arrears due and unpaid at the date of the
member's resignation and for all other moneys owing by the member to the Company under this Constitution. The member shall be entitled to a refund (if applicable) of any part of the Annual Subscription paid to a date after the date of resignation of the member. The refund is calculated on a pro-rata basis.

9.3 If any member:
(a) wilfully refuses or neglects to comply with the provisions of the Constitution; or
(b) is guilty of any conduct which, in the opinion of the Board, is unbecoming of a member; or
c) acts in a manner which is prejudicial to the interests of the Company;
the Board may pass a resolution for the member’s expulsion and the member shall be expelled.

9.4 In the event the Board exercises its power pursuant to Rule 9.3 then the Board must:
(a) Give the member one (1) week's notice of the meeting of the Board at which the resolution is to be proposed. The notice of the meeting must set out:
i) The conduct that is alleged against the member andthe intended resolution;
ii) That the member shall have the opportunity, before resolution, to give, orally or in writing, any explanation the member thinks fit.
(b) If, at the meeting of the Board, a resolution is passed that the member be expelled then the member shall be expelled immediately following the passing of the resolution. The decision of the Board is final.

Membership

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03:40 PM Aug 19th @TSVEnterprise