6. MEMBERSHIP SUBSCRIPTIONS
6.1 Subscriptions
(a) All Members must pay such Subscriptions to the Company as may be determined by the Board from time to time as per the Membership Bylaws, which may be pro-rataed for the first year if a Member joins after the commencement of the Financial Year in which they become a Member.
(b) Each Member will, whenever requested in writing by the Secretary to do so, provide such information as is reasonably required by the Company in order to calculate the Member’s annual Subscription.
6.2 Timing of payment
(a) Each Member must pay their first Subscription pursuant to clause 3.2(a)(iv).
(b) After the first Subscription, all Subscriptions are then payable in advance on the 1st of July in each Year in accordance with clause 6.1 unless otherwise agreed by the Board.
6.3 Unfinancial Members
(a) A Member will be deemed unfinancial if their Subscription is unpaid three (3) months after the due date and will remain unfinancial for as long as the Subscriptions are outstanding.
(b) Whilst a Member is unfinancial, they will not be entitled to exercise any voting rights at any General Meeting and will not be eligible to nominate a person to be elected to the Board or the Member Council.
(c) Whilst a Member is unfinancial, that Member may have its membership terminated by ordinary resolution of the Board.
