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Terms and Conditions

Terms and Conditions

Article 1. Membership and Qualifications

1. BCCK shall consist of the following types of members (“Member(s)”):

– A. Diamond Member

– B. Platinum Member;

– C. Patron Member;

– D. Corporate Member;

– E. Corporate Additional Member;

– F. Professional Member;

– G. Overseas Corporate Member;

– H. Overseas Professional Member; and

– I. Honorary Member.

2. Diamond Member, Platinum Member, Patron Member, and Corporate Member
British or Korean business entities or organizations which are domiciled or maintain permanent representation in Korea, either wholly owned or existing through equity participation in joint ventures, or such other business entities or organizations whose interests, as determined by the Executive Committee, coincide with the interests of the British Business Community in Korea may join BCCK as Diamond Members, Platinum Members, Patron Members and Corporate Members. Immediately upon being admitted as a Member, each Diamond Member, Platinum Member, Patron Member and Corporate Member shall nominate an individual affiliated with such Member to the Executive Committee and obtain its approval for him to represent the Member in the General Meetings (“Accredited Representative”) and, thereafter, shall participate in the General Meetings only through the Accredited Representative.

3. Corporate Additional Member
The employees of Diamond Members, Platinum Members, Patron Members, or Corporate Members, other than the Accredited Representative, may join BCCK as Corporate Additional Members.

4. Professional Member
An individual domiciled in Korea and employed by a British or Korean business entity or organization which is not qualified to be a Diamond Member, a Platinum Member, a Patron Member or a Corporate Member may join BCCK as a Professional Member if their interests, as determined by the Executive Committee, coincide with the interests of the British Business Community in Korea.

5. Overseas Corporate Member
An overseas business entity or organization which is neither domiciled nor maintains a permanent representation in Korea, but would otherwise qualify as a Corporate Member, may join BCCK as an Overseas Corporate Member.

6. Overseas Professional Member
An individual not domiciled in Korea, but who would otherwise qualify as a Professional Member may join BCCK as an Overseas Professional Member.

7. Honorary Member
An individual acknowledged by the Executive Committee to have made significant contributions to the British Business Community in Korea may join BCCK as an Honorary Member.

Article 2. Admission of Members

A candidate for BCCK Membership shall apply for admission as a Member by submitting a membership application on a form provided by BCCK. The membership application shall be brought before the Executive Committee and the Executive Committee may admit the candidate as a Member by a majority vote of the Executives then present, with fifty (50) percent of the Executives constituting a quorum; provided, however, that the Executive Committee may adopt a resolution to defer the decision on admission of Members to the Chairman by a majority vote of the Executives then present, with fifty (50) percent of the Executives constituting a quorum. Upon admitting a new Member, the Executive Committee shall post a written notice of admission to the newly admitted Member. The candidate’s payment of the required subscription upon its receipt of the notice of admission constitutes Membership. The subscription for the Membership shall be for a period of 12 months beginning on the day of payment.

Article 3. Termination of Membership

1. Membership is terminated upon the Member’s death, withdrawal or expulsion.

2. A Diamond Member, Platinum Member, Patron Member, or Corporate Member may replace its Accredited Representative at any time with a replacement Accredited Representative by obtaining a prior written approval from the Executive Committee.

3. A Member may withdraw its membership in BCCK by submitting a written notice thereof at any time; provided, however, that such election to withdraw shall not affect the Member’s rights and obligations until the end of the fiscal year.

4. A Member may be expelled from BCCK and its Membership revoked for cause by an Executive Committee resolution adopted by a two-thirds (2/3) majority vote among the Executives then present, with fifty (50) percent of the Executives constituting a quorum. The cause for expulsion may include, but not limited to, the following conduct of the subject Member:

– A. Disparagement of BCCK through slander or defamation;

– B. Intentional or grossly negligent conduct resulting in material loss or damage to BCCK;

– C. Conduct which contravenes the Stated Purpose of BCCK; and

– D. Failure to pay subscription obligation for six (6) months or more.

– E. For any other reasons as acknowledged by the Executive Committee.

The Executive Committee shall immediately notify the affected Member in writing of such resolution to expel (“Notice of Expulsion”), informing the affected Member of its right to appeal the decision. The expelled Member may appeal the decision by submitting a written request of appeal (“Notice of Appeal”) to the Executive Committee within fifteen (15) business days of its receipt of the Notice of Expulsion. The Executive Committee shall hold an appeal hearing within fifteen (15) business days of its receipt of the Notice of Appeal, and it is considered that the expelled Member renounces the right to appeal if the expelled Member does not appear at hearing. If the expelled Member fails to so appeal, it shall be deemed to have waived its right of appeal. Following the appeal hearing, the Executive Committee’s ruling by a majority vote among the Executives then present, with fifty (50) percent of the Executives constituting a quorum, shall be final.

If the expelled Member is a Diamond Member, a Platinum Member, a Patron Member, or a Corporate Member, the Executive Committee may demand the replacement of the infringing Accredited Representative of such Member with another Accredited Representative acceptable to the Executive Committee as a precondition to the reinstatement of the expelled Member’s Membership.

5. The expelled Member shall not be entitled to a refund of all or part of the current fiscal year’s subscription, or to any claim of property interest in the assets of BCCK.

Article 4. Membership Rights

1. Only Diamond Members, Platinum Members, Patron Members, and Corporate Members in good standing shall be entitled to participate and vote in the General Meetings through their Accredited Representatives (“Member(s) Entitled to Vote”). Each Member Entitled to Vote shall be entitled to one (1) vote at the General Meetings, exercisable through its Accredited Representative.

2. Any Member in good standing may participate in all events hosted by BCCK and is entitled to receive and benefit from all of the services and activities of BCCK.

Article 5. Obligation of Members

1. Every Member shall contribute to the pursuit of the Stated Purpose of BCCK.

2. Every Member shall pay an annual subscription, as may be decided by the Executive Committee, with the exception of Honorary Members who are exempted from subscription.

3. Except in the first year of Membership when the subscription is due upon admission as a Member, the subscription shall be paid in full within sixty (60) days of the beginning of each fiscal year thereafter.

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