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The Annual Subscription Fees shall be payable on joining and on an annual basis.
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The Annual Subscription Fee per calendar year for Ordinary Corporate Membership shall be USD600.00, for Ordinary Individual Membership shall be USD120.00 and for Associate Membership shall be USD120.00. There shall be no Annual Subscription Fee for Spouse Membership which shall be registered completely free of charge. A one time Joining Fee for ALL categories of membership, except Spouse Membership, shall be USD 10.00.
- Any changes to the Annual Subscription Fees, as may be proposed by the Executive Committee from time to time, shall only be effective if a resolution is passed by a simple majority of Members who are entitled to vote at any General Meeting, including at Extraordinary General Meeting and at Annual General Meeting.
- Subscription fees shall be payable annually on the 1st of January of each calendar year or on the date of approval of Membership in the case of new Member joining during a calendar year.
- Payment of subscription fees received by 31st January of each calendar year shall enjoy “early bird” special rate at USD 500 only for Ordinary Corporate Member, at USD 100 only for Ordinary Individual Member and USD 100 only for Associate Member.
- All subscription fees shall be pro-rated for new Members who join by 30th September during the calendar year at USD 50 per month for Ordinary Corporate Member, at USD 10 per month for Ordinary Individual Member and at USD 10 per month for Associate Member, multiply by number of months for the year. However, the Joining Fee of USD 10.00 shall not be pro-rated.
- All new Members of all categories joining in the months of October, November and December shall pay pro-rated subscription fees of current year plus full year renewal fees of the following year at date of joining. However, they shall be eligible to enjoy and pay the renewal fees at the “early bird” special rate, as defined in Article 7 (5) above.
- Subscription fees shall be payable to the Treasurer by cash or by such other method as may be acceptable to the Treasurer.
- Subscription fees payable will be retained to meet the ongoing costs of the MBC.
- No refund of subscription will be given should a membership cease for any reason during the year.
- Member not paying the Annual Subscription Fee is liable to be expelled from the MBC after being served 2 notices. The 1st notice period shall be one month from the date of notification. Should a period of 3 months expire from the date of 2nd (final) notice and still without any payment being made to MBC, the membership with MBC will automatically expire without further notice.
- The total fee to re-activate an expired membership (for all categories) in any month of the year shall be the full Annual Subscription Fee of the year for each category of membership respectively.
- There shall be no re-activation of expired membership of more than a year. Members concerned who are still interested to re-join shall re-apply and such application shall be treated as a new application subjected to Article 5 (2) Membership and the Joining Fee of USD 10.00 shall apply.
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