Membership and basic requirements; rights and obligations of members; application for and examination and approval of membership; daily management; supervision and disciplinary sanction
Rights and obligations of members
1. Rights of members
Members of the exchange can enjoy the following rights:
(1) The right to attend general meeting;
(2) The right to vote and to be voted;
(3) The right to propose and vote affairs of the exchange;
(4) The right to join the trading organized by the Exchange and to enjoy the services provided by the Exchange;
(5) The right to supervise the affairs of the Exchange and the activities of other members; and
(6) The right to transfer the Trading desks by rules.
2. Obligations of members
Members of the exchange not only enjoy rights, but also undertake some obligations which include the following aspects:
(1) The obligation to abide by the local laws, rules, regulations and policies and to carry out business activities according to law;
(2) The obligation to abide by the constitution and various rules and regulations of Pacific International Unit Exchange and to execute the resolutions of the exchange;
(3) The obligation to maintain the legal rights and interests of investors and the exchange and to promote the stable development of the trading market;
(4) The obligation to pay all expenditures and to provide relevant information and related report forms of business and account book;
(5) The obligation to accept the supervision from the exchange; and
(6) The obligation to punish the member who fails to perform the obligations, according to the actual situation.
Application for and examination and approval of membership
To apply for the membership of the exchange, the company shall submit a series of relevant document to the supervision committee and the exchange, such as application form, business license from the supervision committee, enterprise registration, constitution, rules and regulations, etc.
The Exchange shall accept application after all documents to be completed. The decision of whether to admit as a member will make within 20 working days after accepting date. The Exchange will issue the membership certification to the approved company also make a public announcement.
The Exchange members have to appoint a representative to organize and coordinate with the Exchange for various business contacts
The member representative is undertaken by a senior manager. The members have to appoint 1 ? 4 business contact personnel to perform the obligations on behalf of the member representative on the basis of the authorization.
The obligations that are undertaken by the member representative include: handling the membership, seat, transaction unit of the members, transaction authority management, and other relevant business of the Exchange; submitting and reporting the monthly and annual statistics and other documents required by the stock exchange; organizing the internal training related to the business of the exchange for members; organizing related business personnel among the members to take part in the training held by the exchange; coordinating the relationship between the members and the transactions in the exchange as well as the reformation and test of relevant system; visiting the members area in the website of the exchange everyday, receiving the business documents sent by the exchange in time, and implementing them; members of the exchange shall pay relevant charges on time in line with the stipulated items, standard and way of charge.
In case that any member defaults the payment of relevant charges, the stock exchange may suspend handling the related business according to the actual situation. In case that any member fails to pay the charges on time, the stock exchange may take relevant measures according to the actual situation.
Supervision and disciplinary sanction
The transaction behaviors of the exchange members are supervised all the time. The key supervision on members may influence the abnormal transaction price or volume and ensure the transparency, justice and fairness in the quoted price of the transaction. During the supervision on the members, the exchange may take the following measures to the members who have or may have problems:
(2) Asking for rectification and penalty
(3) Conducting special investigation and submitting it to the supervision committee for handling.
Members shall actively cooperate with the exchange in supervision and follow the requirement of the exchange to state the situation in time and to provide relevant report forms of business, account book, original certificate, account opening information and other documents and materials. Members shall not reject or delay the providing of relevant document for whatever reason, nor provide any fake, misleading or incomplete information.
2. Disciplinary sanction
Members shall undertake relevant obligations. In case of any violation against the business rules of the exchange, the exchange shall ask the member to put it right, and take one or several of the following disciplinary sanction measures according to the actual situation:
(1) Circulating a notice of criticism among the members;
(2) Denouncing the member through the website appointed by the supervision committee;
(3) Suspending or limiting the transaction;
(4) Canceling the transaction authority;
(5) Canceling the membership