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SUGAR TRADERS ASSOCIATION
OF THE UNITED KINGDOM
CONSTITUTION AND RULES OF THE ASSOCIATION
1. The name of the Association shall
be "SUGAR TRADERS ASSOCIATION OF THE UNITED KINGDOM".
2. The office of the Association shall
be situated in London.
3. The object for which the Association
is established is:-
To promote, support, develop, protect and maintain the International
Trade in sugar, either in consultation or in conjunction with any other
Sugar Associations, or otherwise.
4. Membership of the Association shall
be limited to firms and companies resident in the United Kingdom, who are
recognised traders in and have a continuing interest in the import or marketing
of Sugar, also to Associations in the United Kingdom representative of Sugar
interests. Consideration will also be given to applications from firms and
companies resident in the United Kingdom who are full or Associate Members
of the London Sugar Futures Market. Members shall in writing appoint a Senior
Executive (or in the case of an Association, the Chairman) as their representative.
Such representative may from time to time and in writing appoint an alternative
to act on his behalf and in his absence.
5. The affairs of the Association shall
be managed by a Committee of not more than eight and not-less than six representatives
of Members (more than half of whom shall form a quorum).
6. The First Committee shall be elected
by the first Members of the Association. The whole of the first Committee
shall retire at the first General Meeting of the Association but shall be
eligible for re-election. Two Members of the Committee shall retire annually
thereafter in rotation and be eligible for re-election. The two Members
to retire shall be those who have been longest in office and as between
more than two who have been in office for the same length of time those
to retire in default of agreement shall be determined by lot.
7. The Committee shall annually elect
its own Chairman, who shall also be the Chairman of the Association. The
Committee shall also elect a Vice Chairman who shall act for the Chairman
in his absence.
8. Each Member of the Committee shall
have one vote, and in the case of an equality of votes, the Chairman shall
have an additional casting vote.
9. The Committee shall have power to
make bye-laws, conduct and manage all the business and affairs of the Association
and shall exercise the powers, authorities and discretions of the Association,
obtain concessions grants and legislative acts and authorisations from any
Government or authority, and do all other things necessary for carrying
on the business of the Association and (without in any way prejudicing or
limiting the extent of such general power) shall have the following powers
and duties:-
(a) They may prescribe penalties for any breach of the Rules
or Bye-laws of the Association or any action judged to be contrary to
the interests and objects of the Association and shall in particular have
power to expel or suspend any Member from the Association as they may
deem fit.
(b) They may from time to time appoint an Executive Committee or any subcommittee
and delegate thereto such powers upon such terms as they shall think fit
and may from time to time cancel or remove any such Committee or any Member
thereof.
(c) They may fill any casual vacancy in the Committee which shall occur
between one Annual General Meeting and another, and the Members of the
Committee so appointed shall retain office so long only as the retiring
Member would have retained same if no vacancy had occurred.
(d) They may co-opt additional Members of the Committee from either within
or outside the Membership of the Association. Such additional Members
co-opted as aforesaid shall only hold office at the will of the Committee
and shall not be entitled to vote at meetings of the Committee.
(e) They shall nominate a person to serve as the United Kingdom Delegate
on the Board of ASSUC and his or her alternate. Such nominees may or may
not be Members of the Committee. They may from time to time revoke such
nomination as they see fit.
10. Meetings of the Committee, Executive
Committee and sub-Committee shall be held at such times as the Members of
such Committee shall think fit.
11. A subcommittee may from time to
time elect a Chairman.
12. The Secretary of the Association
(who shall also act as Secretary of the Committee) shall be elected annually
at the General Meeting.
13. In addition to his other duties,
the Secretary shall be responsible for the receipt and disbursement of monies
for account of the Association and for presenting a Balance Sheet at the
Annual General Meeting.
14. The first Members of the Association
shall be those whose names appear in the Minutes of the first Meeting of
the Association.
15. Applications for Membership of the
Association shall be supported by two Members and shall be made in writing
to the Secretary, for election by a majority vote of the Committee.
16. Every application for membership
shall contain an undertaking by the applicant agreeing to observe and be
subject to the Rules for the time being of the Association.
17. Each Member shall have the right
of exercising one vote at General Meetings of the Association. In the case
of an equality of votes, the Chairman shall have an additional casting vote.
18. Except in the case of an Association,
when membership shall be free, each Member shall pay on election an Initial
Fee to be fixed by the Committee. Each Member shall also pay a basic subscription
and may choose to pay a supplementary subscription to the Association's
information service. The basic and supplementary subscription, shall be
fixed by the Committee and shall be due annually on the 1st October.
19. On
election a Member shall not be entitled to exercise any of the rights and
privileges of Membership until he shall have paid all monies due to the
Association upon becoming a Member, and shall cease to be a Member if such
monies remain unpaid for one month after the fact of his election shall
have been notified to him in writing by the Secretary.
20. The rights and privileges of Members
shall not be transferable.
21. If the subscription of a Member
should become two months overdue all his rights and privileges of Membership
shall be forfeited and he shall forthwith cease to be a Member. His arrears
of subscription shall still remain a debt due to the Association. The Committee
shall have power to reinstate such Member upon such terms and conditions
as the Committee shall think fit.
22. A Member shall cease to be a Member:
(a) three months after giving notice in writing to the Secretary of his
intention to resign his Membership.
(b) if he be requested by Extraordinary Resolution of the Association to
resign his Membership.
(c) if by order of the Committee he be expelled from the Association.
(d) if an effectual order be made or an effectual resolution be passed for
the winding up of such Member, unless such winding up, in the opinion of
the Committee, be only for the purpose of a reconstruction, or if he becomes
a bankrupt or compound with this Creditors, or have a receiving order made
against him; or if he suspend payment, or in the opinion of the Committee
become a defaulter, but at the discretion of the Committee the Member may
be reinstated with or without a new Initial Fee or Subscription.
23. Members shall accept the rulings
of the Committee of the Association as to their proper conduct in relation
to any scheme or arrangement under which international trade in sugar may
from time to time be conducted.
24. An Annual General Meeting of the
Association shall be held during October or November to receive and consider
a Balance Sheet and Report on the affairs of the Association and to elect
a Secretary and Members of the Committee and to transact the business of
the Association.
25. Any Member wishing to bring before
the Annual General Meeting any motion shall give notice of such motion to
the Secretary prior to the calling of the Meeting and no such motion shall
come before the Meeting unless such notice has been given or unless the
Committee shall see fit to dispense with this rule in any particular case.
26. The Secretary, in the case of an
Annual General Meeting, shall send to each Member, at his registered address,
with the notice of this Meeting, a list of the persons nominated for election
as Members of the Committee and as Auditor, and any motion of which notice
has been given, as mentioned in the last preceding rule, mentioning the
day, place and hour of the Meeting.
27. In the case of an Extraordinary
General Meeting, such notice shall state the purpose of the Meeting, but
the non-receipt of such notice by any Member shall not invalidate the proceedings
at any meeting.
28. An Extraordinary General Meeting
may at any time be called by the Committee and shall be called by the Committee
whenever a requisition of not less than ten Members of the Association stating
fully the object of the Meeting, and signed by the requisitionists, is delivered
to the Secretary or left at his office. Whenever the Committee neglect for
twenty-one days after delivery of any such requisition to call a Meeting
in accordance therewith, the requisitionists may call the Meeting.
29. The Quorum for any General Meeting
shall be five Members.
30. The duly appointed representative
of any Member or his alternative shall have all powers as to voting or requisitioning
meetings or otherwise which the Member would have under the Rules of the
Association.
31. Where prior notice thereof has been
given any General Meeting may by resolution passed by two-thirds of those
present alter the Rules of the Association.
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