| 8 |
PROCEDURE |
| 8.1 |
The Members of the Club shall conduct all business, discussions, and other activities
of the Club via electronic mail (e-mail), and through other electronic means on the
Internet, including through the website of the Club www.endeavorplan.com (“the
Website”). Each Member, or his proxy, shall at all times have an e-mail address and
the ability to send and receive, and to view and interact with the Website. |
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| 9 |
OPERATIONS |
| 9.1 |
No Member shall have the power to participate in the management and conduct of the
affairs of the Club, except as provided in these Rules. |
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| 10 |
MEMBERS’ ACCOUNTS |
| 10.1 |
An account (“the Member’s Account”) shall be kept in the books of the Club for each
Member showing: the total subscriptions of that member, Rebates of Subscriptions
earned by that Member, eductions from that Member’s Members’ Account, and the
balance. Each Member’s Members’ Account shall be kept electronically and shall be
available and open to inspection and examination by that Member once they have
completed the upgrade process. (but by no other Member or person). |
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| 11 |
UPGRADE FEE’S |
| 11.1 |
Each member may upgrade their status at any time in order to receive added member
benefits. |
| 11.2 |
Such benefits are to be determined from time to time by the manager and at the
managers sole discretion. |
| 11.3 |
The cost to upgrade shall be set from time to time by the manager and made available
on the web site. |
| 11.4 |
In addition to the one off cost to upgrade a monthly fee can be set by the manager.
This fee will be made available on the web site. The manager from time to time may
change the monthly fee at the managers discretion. |
| 11.5 |
A Member who fails to pay any fee on the due date must pay the overdue amount
within 30 days of the due date. Such payment is in addition to any further fee then
due. |
| 11.6 |
Any Member who does not make a payment for three (3) consecutive months shall be
considered in default and that Member’s membership may be terminated in
accordance with paragraph 19. |
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| 12 |
RUNNING COSTS |
| 12.1 |
The Club shall be entitled to deduct a specified amount (“the Monthly Levy”) from
each Member’s Members’ Account. |
| 12.2 |
No member of the Club shall be compensated for providing services to the Club. |
| 12.3 |
No Compensation. No Member shall be compensated for services rendered to the
Club, except reimbursement for expenses, or as otherwise determined by the Club. |
| 12.4 |
The running costs of the Club including the costs of the Manager shall be met from
the Monthly Levy. |
| 12.5 |
These may be determined from time to time by the manager and charged at the
managers discretion. |
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| 13 |
TAX LIABILITY |
| 13.1 |
Each Member shall be responsible for that Member’s tax affairs and shall not be
entitled to any returns, certificates, or information from the Club. |
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| 14 |
PARTIAL WITHDRAWAL AND ACCOUNT CLOSURE |
| 14.1 |
A Member may withdraw a part or all of any credit balance in that Members' Account
by giving Notice of such withdrawal to the Manager in a form specified by the
Manager. |
| 14.2 |
A Member withdrawing all of the money in that Member’s account shall be considered
to have withdrawn from the Club unless that Member’s next Monthly fee is paid. |
| 14.3 |
The Club shall have the period of sixty (60) days after receiving a withdrawal Notice
pursuant to paragraph 12.1 to pay the Member in full. |
| 14.4 |
EPtrade dollars are not convertible to cash and so a withdrawing member is given 60
days to spend any EPtrade dollars. Any EPtrade dollars not spent in that time will be
forfeited to the manager. |
| 14.5 |
If the members EPtrade dollar accounts are overdrawn then the member is required to
pay the balance in Euro within 30 days of notice of withdrawal. |
| 14.6 |
The member personally guarantees any EPtrade dollar liability to the manager. |
| 14.7 |
Repayment of EPtrade dollars in cash is subject to a fee as determined from time to
time by the manager. |
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| 15 |
NEWSLETTER |
| 15.1 |
The Club will produce an electronic newsletter (“the Newsletter”), which will be
available via the Website. |
| 15.2 |
The Newsletter will be for Members only, and no Member shall distribute or publish
the Newsletter. |
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