STATEMENT OF RULES

DISCLAIMER
This document is confidential and contains information that is proprietary to Loyal Ten club members.
members It is
issued for the purpose for which it is intended. No part of this document either in whole or part may be
reproduced or disclosed outside the recipient’s company without permission from Spans Ventures

IDENTIFICATION AND STANDING

The name of the Group is Loyal Ten Club
Club. The name of the Group can be altered though the provisions of this
Statement of Rules and the Statement. Alterations or additions made to the name will be by a special
resolution supported by three quarters of such members of the Group as, being entitled to do so, vote at an
annual general meeting or special general meeting.

STATEMENT OF PURPOSES
The objectives of the Group are:
(a) Strengthening the personal friendship between all the members of the group
(b) Create a forum wherere members can share ideas, support, counsel,
counsel,share, advice
(c) Develop the group into a saving and investment club for mutual benefit of the members

MEMBERSHIP
Membership of the Group is currently restricted to twelve members who allsupportthe the objectives
objecti of the
Group.
Additional members may be incorporated to the group br amending the above clause that negates the same.
In this case the new prospective member will have to make an application for Membership in writing. The
group will thenconsider
consider and accept or reject each membership application as soon as practicable.

Disclaimer: no member should discloseany information of the groupormembers’ personalinformation

personal to
third parties unless you have authorized us to do so.

Membership fees
There is currently no entrance fee.
Alternatively, The entrance fee maybe incorporated by a resolution of a 75% member quorum

Register of Members
A register containing the name, address, date of enrolment and date of cessation of membershipof
membership each
member will be kept by the Committee.

Membership will cease if a member:

(a) Voluntarily resigns by notifying the Secretary in writing and takes effect from the date stated,
Otherwise
therwise immediately;
(b) is unfinancial for 12 months;
(c) Isexpelled
(d) Dies.
Expulsion and Suspension of a Member
The groupmay,
may, if it finds that a member has acted against the interests of the Group:
(a) Expelthat
that member from the Group, or
(b) Suspendsome
some or all of the membership rights of that member.

Any memberber whose suspension or expulsion is proposed has the right to oppose the proposal in person or by
written submission and will be given at least 21 days notice of the hearing of the proposal.

Grievance procedure
The following procedure applies to disputes under these rules between a member and another member or
between a member or members and the Club.
(a) Within 14 days after the dispute comes to the attention of the parties to the dispute they must meet
and if possible resolve the dispute
dispute.
(b) If the parties are unable to resolve the dispute, or if a party fails to attend that meeting, the parties
must, within 10 days, hold a meeting in the presence of a mediator.
(c) The mediator must be a person chosen by agreement between the parties, parties,or
or in the absence of
agreement -
(i) Inaa dispute between a member and another member, a person appointed by the
Committee; or
(ii) Inaa dispute between a member or members and the club,, a person who is a mediator
appointed by group.
(d) A member of the ClubClubcan be a mediator.
(e) The mediator cannot be a party to the dispute.
(f) The parties to the dispute must, in good faith, attempt to settle the dispute.
(g) The mediator, in conducting the mediation, must -
(i) Givethe
the parties every opportunity to be heard; and
(ii) Allowduedue consideration by all parties of any written statement submitted by any party; and
(iii) Ensurethat
that natural justice is accorded the
theparties
parties throughout the mediation process.
(h) The mediator must not determine the dispute.
(i) If the mediation process does not result in the dispute being resolved, the parties may seek to do so in
accordance with the law lawof the land.

Life and Honorary Members

The Committee may grant honorary membership for a period of one year to a person in recognition of service
to the Group.
Life membership for outstanding service to the Group over a period of many years may be granted to a
member on the recommendation
dation of the Committee by resolution of a general meeting.
PATRON
A person may be invited to be a Patron of the Group by resolution of a general meeting. Patrons are not
members of the Committee and do not have the responsibilities or rights of a member.

MEETINGS
¤ Monthly meeting of all Groupmembers
members will be held in locations and dates that will be discussed in previous
meeting. These are the forums to be used to discuss all issues and maters of the group whichrecorded in
minutes and shared to all members on emails before the next meeting.

¤ An AnnualGeneral
General Meeting, will also be called by the Committee for a date as soon as practicable but not
more than three months after the end of the Group's financial year.

¤ The ordinary
nary business of the Annual General Meeting will be:
(a) To confirm the minutes of the last preceding Annual General Meeting and any general meeting held
since that meeting.
(b) To receive and consider the financial statement submitted in accordance with
withgroups
groups financial plans
rules and regulations
(c) To fill the elective positions established by this Statement of Rules.
(d) To appoint the Public Officer, Auditor and other officers of the Group.
(e) Any business of which notice has been given.

¤ Additional general meetings, to be known as Special General Meetings may be called for a specified purpose or
purposes by the Committee or at the written request of at least 5% of the membership.
¤
¤ Members will be given at least 21 days notice in writing of
ofany
any Annual General Meeting or Special General
Meeting and of any business to be conducted at such a meeting.
¤
¤ Each member is entitled to appoint another member as their proxy to an Annual General Meeting or Special
General Meeting by notifying the Secreta
Secretary
ry in writing before the nominated starting time for that meeting.
¤
¤ The quorum at a general meeting is (five) members present in person.
¤ A general meeting of the Group will be chaired by the Convener, or another member appointed by the
meeting.
¤
¤ Each financial
cial member has one vote only, either personally or by proxy and the chairperson has a second or
casting vote.
¤ Any proposal on any matter within the power of the Group, other than an administrative matter, which is
submitted in accordance with the Statemen
Statementt of Rules and Regulations may be considered by members at a
general meeting.
COMMITTEE
The Committee (consisting
consisting of the chairman,
chairman,vice chair,secretary,
secretary, treasurer and one member)is
member) responsible for
managing and coordinating the Group and ensuring that
thatthe
the resolutions of general meetings are
implemented.

o At least 7 days notice of meetings will be given to Committee members.

o The quorum for the Committee is a majority of its members.
o Each member of the Committee has one vote and the chairperson has a sec second
ond or casting vote.
o The Committee will keep in its custody or control all documents relating the Group.
o The Secretary will keep minutes of the resolutions and proceedings of the each general meeting and each
committee meeting, and the names of the persons
personspresent at such meetings.
o The Committee may establish and maintain Regulations which describe the procedures for implementing the
principles identified in this Statement of Rules.

FINANCIAL MANAGEMENT
¤ The funds of the Group will be derived from monthly contributions, fines, interest from loansand
loans
such other sources as the Committee determines, and will be applied to the pursuit of the objectives
of the Group as determined by the Committee.
¤ The Treasurer will collect and receive all moneys, make all authorizedpayments,
payments, and keep correct
accounts and books showing the financial affairs of the Group with full details of all receipts and
expenditures.
¤ The financial year will start on 1st JJanuaryand end on 31th December of the sameyear
same unless
otherwise determined
rmined by a general meeting.
¤ At the close of each financial year the Treasurer will prepare for submission to the Annual General
Meeting a financial statement containing the following information:
a) The income and expenditure of the Group during its last fin financial year;
b) The assets and liabilities of the Group at the end of its last financial year;
c) The mortgages, charges and securities of any description affecting any of the property of the
Group at the end of its last financial year;
d) the income and expenditur
expenditure of the trust during that period;
e) the assets and liabilities of the trust during that period; and
f) Themortgages,
mortgages, charges and securities of any description affecting any property of the trust
at the end of that period.
¤ The accounts and books of the financi
financial
al affairs of the Group are to be available for inspection by
members by appointment.
¤ The Committee may recommend payment of an honorarium. Such recommendation must be
approved by all the members
ELECTIONS
¤ All current elected positions
positionsbecome vacant will remain unchanged until such a time that the groups
feels there is need to re
re-elect
elect new members. This decision will have to be approved by ALL members
¤ A member may nominate any number of elected positions, but may be elected to only one position
¤ All nominations which conform with the Regulations of the Group will be accepted and presented to
the group.
¤ If the number of nominations received for any position at theclose of nominations, exceeds the
number of vacancies to be filled, a ballot will be conducted at the Meeting.
¤ The Committee may co co-opt
opt a member to fill any position not filled at the Annual General Meeting
¤ An elective position
ion may be declared vacant by the he Group on the grounds that its constitutional
responsibilities are not being fulfilled.
¤ Any elected member whose position is proposed to be declared vacant has the right to oppose the
proposal in person or by written submission and will be given at least
least21
21 days notice of the hearing of
the proposal.
¤ Casual Vacancies

A casual vacancy will exist if a member of the Comm

Committee /office holder
i. ceases to be a member of the Group;
ii. resigns from such position in writing;
iii. becomes insolvent withi
within the meaning of the Club
iv. dies; or
v. has their position declared vacant at a groupmeeting.
¤ The Committee may fill any casual vacancy by the appointment of any member for the remaining
term of office.
¤ The conduct of elections is the responsibility of a Returning Office
Officerr to be appointed by the
Committee.

COMMUNICATION

¤ Members will be kept informed of the Group's activities through meetings of the group and emails (group
email – loyaltenclub@yahoogroups.com
loyaltenclub@yahoogroups.com)
¤ Other means of communication acceptable to the group is through members’ personal cell phone numbers

BORROWING
 Borrowing will be done in accordance with the clubs terms conditions and policiesstipulated
stipulated in the loan
application form.

PROPERTY

¤ The property of the Club, including cash at the bank, shall be vested in not more than four Custodians. They
shall deal with the property as directed by resolution of the group members and entry in the minute book shall
be conclusive evidence of such a resresolution.
¤ The Custodians shall be the office bearers who are the Chairman, vice chairman, treasurer and the secretary as
elected by the Club members and shall hold the office until death,resignation or removed by a resolution
passed at a club members.
¤ The Custodians shall be entitled to an indemnity out of the property of the Club for all expenses and other
liabilities properly incurred by them in the discharge of their duties.

DISSOLUTION

¤ A resolution to dissolve the Club shall only be proposed atataa General Meeting and shall be carried by a majority
of at least three-quarters
quarters of the ALL members entitled to vote. A specific date for the dissolution shall be
included in the resolution.
¤ The dissolution shall take effect from the date specified in the
theresolution
resolution and the members of the Committee
shall be responsible for the winding
winding-up of the assets and liabilities of the Club.
¤ Any property remaining after the discharge of the debts and liabilities of the Club shall bedivided to the
members. Members will ill however need to have cleared all liabilities with the club and be current with their
contributions

ACKNOWLEDGEMENT

The Members acknowledge that these Rules constitute a legally binding contract to regulate the relationship of the
members with eachother
other and the Club.

MEMBER ACCEPTANCE

I also declare that I have read, understood, agreed and promise to abide by the rules

FULL NAME
ID NUMBER
SIGNATURE Date signed
DESIGNATION