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Article VI |
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6.0 |
ENTRANCE FEE AND ANNUAL SUBSCRIPTION |
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6.1 |
The Entrance Fee is as follows: |
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| a. |
Ordinary Membership |
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$1,200.00 |
| b. |
Associate Membership |
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$500.00 |
| c. |
Individual Membership |
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$500.00 |
| d. |
Individual (Student) Membership |
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$100.00 |
| e. |
Affiliate Membership |
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$200.00 |
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The General Meeting of members may revise the Entrance Fee from time to time. The Entrance Fee for all approved memberships shall not be refunded or transferred by a member under any circumstances. An Honorary Member shall not be required to pay an Entrance Fee. |
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6.2.1 |
The Annual Subscription is as follows: |
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| a. |
Ordinary Membership |
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$600.00 |
| b. |
Associate Membership |
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$400.00 |
| c. |
Individual Membership |
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$400.00 |
| d. |
Individual (Student) Membership |
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$100.00 |
| e. |
Affiliate Membership |
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$200.00 |
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The General Meeting of members may revise the Annual Subscription from time to time. The Annual Subscription shall be paid annually in advance. New applicants or a resigned member shall pay on a pro-rata basis for an incomplete year. A Life Member or an Honorary Member shall not be required to pay an Annual Subscription. |
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6.2.2 |
A member, who falls into arrears for more than two (2) months with its Annual Subscription or other dues, shall not have any voting rights during General Meetings. |
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6.2.3 |
A member, who falls into arrears for more than three (3) months with its Annual Subscription or other dues, shall receive a Notice from the Hon. Treasurer to settle. If the arrears are not settled within two (2) weeks the membership shall be cancelled. |
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6.2.4 |
A member who ceased to be a member under Clause 6.2.3 may submit a fresh application for membership after the expiry of a period of two (2) years from the date of cancellation, on condition that all previous debts to the Association are settled in full. The Governing Council shall have the sole discretion to approve or reject such application. |
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6.3 |
Any special Subscription, Contribution or Levy for any particular purpose may only be raised from members with the prior approval of a General Meeting. |
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Article VII |
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7.0 |
SOURCES AND UTILISATION OF FUNDS |
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7.1 |
The sources of funds shall be:
a. Entrance Fees and Annual Subscriptions from SPMA members,
b. Special Subscriptions and Contributions,
c. Dues and Charges levied on activities, and
d. Donations. |
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7.2 |
The Governing Council shall approve the manner in which these funds are to be collected. |
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7.3 |
SPMA funds shall only be expended solely for the purpose of serving the Objects of SPMA. |
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7.4 |
The Hon. Treasurer or the Asst. Hon. Treasurer or any other person duly authorised by the Governing Council shall receive and collect monies or goods, and be responsible for the safe-keeping and proper disposal. They are also responsible for the safe custody and the proper use of all receipts and other supporting documents. |
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7.5 |
All cheques shall be signed by either the President or the Hon. Secretary, and countersigned by either the Hon. Treasurer or the Asst. Hon Treasurer. |
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7.6 |
The Governing Council may utilize the funds for the total monthly expenditure of up to $10,000. Any total monthly expenditure, single expenditure or project in excess of $10,000 shall be approved by a two-third (2/3) majority vote of the entire governing council. |
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