RULES

Rules

1. Membership is open to companies, partnerships and individuals who are actively involved in the air chartering business, and to individuals who were previously Members but have subsequently retired from the industry.

2. The number of members of the Association is unlimited.

3. The Association is a non-profit making undertaking established for the purposes expressed in the Objects.

4. Applications for membership must be submitted on official application forms which shall contain an agreement to conform, if elected, to the Objects and Rules of the Association, and shall be signed by the Proposer and Seconder

5. Members are elected by the Council by ballot. Candidates for membership must be proposed and seconded by existing members who shall have satisfied themselves that candidates are in every way suitable. The names and addresses of such candidates together with the names of their proposers and seconders shall be announced at the next scheduled Council meeting. A majority vote of Council members in attendance at that meeting shall decide if the candidate shall be elected, and the candidate shall then be advised of the outcome of the vote.

6. Applicants, other than retired members, must provide evidence that they have actively traded for not less than twelve months.

7. The Council reserves the right not to divulge any information concerning candidature for membership or the result of any ballot.

8. A Register of the members for the time being shall be kept and shall contain in addition to each member’s name, his address and occupation and the date he was admitted to membership.

9. Where there is an alteration in the constitution of a firm or a voluntary reconstruction of a company, the reconstituted company shall automatically succeed to the membership of the original company, unless the Council, on the alteration or reconstruction being brought to its notice, shall otherwise decide.

10. A member wishing to discontinue membership shall give written notice before the expiration of the current subscription year and on the expiration of such year shall cease to be a member.

11. Reduced rate membership is available for Retired Members. A Retired Member (being a private individual) is a person who was previously a designated BACA representative or contact on behalf of a member company or as an individual member, and who retires from being actively engaged in the business of aviation, and who no longer has a business connection with Members engaged in a relevant business.

12. A person wishing to become a Retired Member shall sign a declaration on their membership application form stating that they are fully retired from the business of aviation and will not be using their membership of BACA to further any business venture.

13. A Retired Member shall promptly notify the Administration or Council of BACA in writing if they subsequently become actively engaged in the business of aviation or if they use or wish to use their membership of BACA to further any business venture, or if they acquire a business connection with Members engaged in a relevant business.

14. All applicants for the status of Retired Member shall be elected by the Council by ballot, entirely as outlined in Paragraph 5 above. If elected, they shall become a Retired Member, and as such may continue to enjoy use of the facilities of the Baltic Exchange and certain benefits of BACA membership. These Rules shall apply to Retired Members in the same way as they apply to Members except where otherwise provided.