| 16 |
INVESTMENTS |
| 16.1 |
From time to time, the Club will provide to Members information on potential investments for Members (“the Investments”). Information on Investments will be
provided via the Newsletter and the Website. |
| 16.2 |
By providing information on Investments to Members, the Club is not endorsing or
advertising those Investments. |
| 16.3 |
The Club is not an investment vehicle. No Member will be required to or able to make
any Investment through or with the Club or the Manager. |
| 16.4 |
No Member will be required to invest in any Investment and each member who
chooses to invest in an Investment shall do so at his, her or its own choice. Neither
the Club nor the Manager warrants or guarantees any Investment. |
| 16.5 |
Neither the Club nor the Manager warrants that it has complied with the securities
laws in any jurisdiction of relevance to any Member, and it is the Member’s
responsibility to ensue that the Member is not breaching the law by membership of the
Club or by viewing the Newsletter. |
| 16.6 |
From time to time the Club will negotiate with issuers or promoters of Investments so
that Investments which would not otherwise be available, are available exclusively to
Members, or so that there are discounted fees or additional commissions on
Investments, available exclusively to Members. The provision by the Club of such
opportunities for discounts, or commissions shall not in any way be deemed to be any
warranty by the Club or the Manager in breach of the foregoing paragraphs. |
| |
|
| 17 |
REBATE OF SUBSCRIPTIONS |
| |
Rebate of Subscription Structure |
| 17.1 |
Each Member is entitled to Rebates of Subscriptions, in accordance with the Rules. |
| 17.2 |
The Club shall establish in its records a system for the calculation and payment of
Rebates of Subscriptions due to each Member (the “Rebate of Subscription
Structure”). |
| 17.3 |
Each Member shall have one or more accounts in the Rebate of Subscription
Structure. |
| 17.4 |
When a new Member (“the New Member”) joins the Club in accordance with the
Rules, the New Member shall be allocated a new Branchpoint. |
| 17.5 |
When that New Member has been introduced to the Club by an existing Member (“the
Existing Member”), in the Rebate of Subscription Structure that new Branchpoint shall
be associated with the Branchpoint of the Existing Member, as follows: |
| 17.5.1 |
The Branchpoint of the Existing Member shall be referred to as being “upline”
from the Branchpoint of the New Member; and |
| 17.5.2 |
The Branchpoint of the New Member shall be referred to as being “downline”
from the Branchpoint of the Existing Member. |
| 17.6 |
Any New Members not introduced to the Club by an Existing Member shall be
allocated a Branchpoint downline from the Manager or downline from a Branchpoint
nominated by the Manager. |
| 17.7 |
Each Branchpoint shall be allocated to a Level in the Rebate of Subscription
Structure. A Branchpoint that is upline from another Branchpoint shall be in the Level
above that second Branchpoint, and vice versa. |
| 17.8 |
The Rebate of Subscription Structure shall not be limited as to the number of Levels,
but Rebates of Subscriptions in relation to a particular Branchpoint shall only be
payable to the ranchpoints directly upline of that Branchpoint for 40 Levels, as
provided in paragraph 17.14. |
| 17.9 |
No Branchpoint may have more than 2 other Branchpoints immediately downline of it.
The Branchpoints therefore are in the form of a binary matrix. |
| 17.10 |
A Member may purchase Multiple branchpoints. There is no limit to the number of
branchpoints a member can take. The Member shall be required to pay a one off
registration and then contribute the monthly membership for each branchpoint they
hold. |
| 17.11 |
Each Member may have more than one Branchpoint, and each Branchpoint is
separate and individual, although linked to its upline Branchpoint and to any downline
Branchpoints, and is also associated with any other Branchpoint of the Member, for
the purposes of keeping records in the Rebates of Subscription Structure. |
| |
|
|
