Investment Clubs Manual037

Investment Clubs Manual037 - 18 DISPUTES a Any disputes as...

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Unformatted text preview: 18. DISPUTES a) Any disputes as to the Interpretation of these rules shall be decided by the chairperson unless notice is properly served requestan that the matter should be resolved by a special general meetlng of club members. b) Any disputes relating to the valuation ofa member's share in the assets of the club or his/ her entitlement to that share shall be decided by a chartered accountant (to be appointed by the chairperson of the club) of at least seven years‘ standing whose certificate of declslon shall be final. Fees incurred in obtaining this decision shall be paid by the party to the dispute against whom the decision ls made or, In the case of thls not being clear, the fees shall be shared between the club and the member or ex-member concerned. 19. WlNDING UP The club shall be wound up and all assets divided among members (after payment of club expenses) in accordance with the number of units held by each member if a resolution to that effect is passed by at least 75% of the members at a special general meeting of the club. 20. TAX LIABiLlTV Membership of the club implies acceptance of proportional tax liability on trading profits made by the club in any tax year. 0 b 2008 a" e' ProShare Investment Club THE MANUAL ...
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