Investment Clubs Manual032

Investment Clubs Manual032 - Rules of the club The...

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Unformatted text preview: Rules of the club The following set of rules is based on those which have proved satisfactory to most investment clubs. However, they are here for guidance only and variations are possible to some of the rules as described in the next section. A copy of the rules is contained on the enclosed CD and can be adapted and printed out. 1.THE AFFAIRS OF THE CLUB The affairs of the club shall be conducted in accordance with the letter and spirit of the constitution laid down by the members. The constitution may only be changed by agreement of not less than 75% of current members of the club. 2. OFFICERS The affairs of the club shall be managed by three officers - chairperson, honorary secretary and honorary treasurer - who shall be elected by a simple majority of members attending the annual general meeting of the club. These officers shall resign at the following annual general meeting but shall be eligible for re-election. If an officer should leave the club, die or otherwise be unable to continue to carry out his/her duties, a replacement may be elected at a subsequent ordinary meeting of members. Other officers may be elected from time to time to assist the three main officers. 3. MEETINGS a) In each year there shall be held 11 monthly meetings and one annual general meeting. at which all members shall be entitled to be present and to vote on all matters. b) Dates and venues of meetings may be varied in accordance with a resolution supported by a simple majority of those attending a properly constituted meeting of the club. Such resolutions and all others must be carried at a meeting where there is a quorum comprising of more than half of the current membership. c) All members shall be given at least 5 days notice of dates and venues of meetings. d) A special general meeting may be convened by not less than three members for the purposes of resolving special items of club business subject to a written request being submitted to the secretary who will without undue delay then give at least 21 days notice to all members. October 2008 ProShare Investment Club THE MANUAL ...
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