Constitution
3rd ARTICLE
MEMBERS
A. DIFFERENTIATION OF THE MEMBERS
1. Categories: The members are divided into regular, associate and honorary members according to the definitions of the following paragraphs.
2. Members may be:
i) The members of the ATHEX.
ii) The members of the Athens Derivatives Exchange.
3. Associate members may be other investment firms under Article 27 of Law 2396/1996, which do not satisfy the requirements of the regular members. Associate Members have no voting rights, however they can express their views to the institutions of the Association.
4. Honorary members may be declared personalities, who offered valuable services to the development of the financial institutions and in general the capital market in Greece.
B. MEMBER’S ADMITTANCE
1. Regular Members: The Board of Directors of the Association decides on the admission of a regular member, following the new member’s application, and declaration that it accepts the Statutes and the Code of Conduct of the Association, as modified and applicable and its declaration that it will comply with the resolutions of the bodies of the Association (Board of Directors, General Assembly, Committee on Ethics).
2. Associated Members: The Board of Directors of the Association decides on the admission of an associated member, following the new member’s application, and declaration that it accepts the Statutes and the Code of Conduct of the Association, as modified and applicable and its declaration that it will comply with the resolutions of the bodies of the Association (Board of Directors, General Assembly, Committee on Ethics).
3. Honorary Members: One could be declared an honorary member of the Association following a resolution of the General Assembly, upon a proposal of the Board of Directors.
4th ARTICLE
RIGHTS AND OBLIGATIONS OF THE MEMBERS
The Members of the Association and their legal representatives are entitled to and obliged to:
1. Participate in the events organized be the Association and especially participate in the meetings of its General Assembly, taking part in debates and ballots.
2. Receive information about every single activity of the Association and about the resolutions of its statutory bodies.
3. Elect the statutory bodies of the Association and be elected in them.
4. Fulfil regularly and timely their financial obligations to the Association and inform without due delay the Association’s Board of Directors about every change to their professional address.
5. Abide by the Statutes, respect the resolutions of the bodies of the Association, and make every effort to promote and fulfil its objectives.
The rights of a regular member of the Association shall be suspended in case the Member does not fulfil its financial obligations, and as a result the Member will not be calculated to the number of members of the required by the Statutes quorum for the General Assemblies, the ballots and the decision making.
5th ARTICLE
MEMBER’S WITHDRAWAL
Each member has the right to withdraw from the Association, by a written statement that will be reported to the Board of Directors, and the member will be removed from the Registry of the Members of the Association and this removal would be finalised in the first meeting of the Board of Directors held after the receipt of the written statement.
6th ARTICLE
MEMBER’S EXPULSION
The expulsion of a member is permitted, following a reasoned resolution of the General Assembly of the Association in case the member:
a) violates the Statutes or does not comply with the resolutions or acts contrary to the purposes of the Association.
b) delays the fulfilment of its financial obligations to the Association for two consecutive years.
c) no longer fulfils the requirements for registration as a member of the Association.
d) commits any other crucial offence or there is any other important reason.
The expulsion of a member is either recommended to the General Assembly by the Board of Directors or by at least the one fifth (1/5) of the regular members of the Association. The Board of Directors and the General Assembly are obliged to hear the member, whose expulsion is sought, regarding the violations or misdemeanours attributed to it.
The expelled member may, within thirty (30) days after the reception of the relevant resolution regarding its expulsion, to appeal to the First Instance Court of Athens.