Exchange Rules

EXCHANGE RULES
v3.0
Members Chamber, all Chairmen of Market Committees and 1 representative of
BSP in the Members Chamber. If the number of members thus established is not
sufficient, the members, shall also be:
a) Vice-Chairmen of Market Committees and, if the required membership number
is still not met,
b) by means of secret ballot elected representatives of Members Chamber, whose
term shall be 4 years, that can be renewed.
(4) The Exchange Council shall coordinate the work of Members Chamber and Market
Committees. Its powers and responsibilities are those of the Members Chamber,
with exception of elections. It may pass resolutions of Members Chamber in
accordance with provisions of paragraphs (13) and (14) below unless the
Management demands that members of Members Chamber directly vote on an
individual motion.
(5) The Members Chamber shall have a quorum when either Members Chamber
members holding more than half of the votes of all Members Chamber members
or more than two thirds of Exchange Council members are in attendance, either in
person or effectively represented by a substitute duly empowered in writing. The
substitute of a member of the Exchange Council, except the substitute of the
representative of BSP, may only be a member of the Members Chamber.
(6) Each member of the Members Chamber shall have one vote for every Exchange
Participant’s Country of BSP Operation that the member represents.
Representative of BSP in the Members Chamber shall have one vote for every
Country of BSP Operation. When voting in the Exchange Council, each member of
the Exchange Council shall have one vote.
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