Rules of the Sukumo Investors Association

Recitals

  1. The primary aim of the Sukumo Investors Association is to promote the interests of former investors in the Sukumo Group.
  2. If this Association proves successful it is intended that further Associations will be set up to support investors who have lost money in other similar boiler room frauds.
  3. By being entered onto the register of members, each Member of the Sukumo Investors Association agrees to be bound by the following Rules of the Sukumo Investors Association.

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    Name

  1. The name of the association is "The Sukumo Investors Association" ("The Association").

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    Objects

  2. The object of the Association is to promote the interests of former investors in the Sukumo Group.

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    Membership

  3. Any person who invested in the Sukumo Group or similar Boiler Room scams, has logged their names and addresses with the Secretary and passed the security vetting procedure shall be eligible to become a member of the Association.
  4. Every eligible person shall become a Member following approval by the Secretary.
  5. The Secretary shall keep a register of members and enter in it the names of all persons who become Members.
  6. A Member shall cease to be a Member:
    1. If he/she gives to the Secretary written notice of resignation of his/her membership
    2. If he/she fails to pay his/her subscription of £100 within four weeks of a general request being made for the same on www.boiler-rooms.co.uk.("the Website")
    3. If he/she fails to pay any additional subscription which has been approved by a majority of the Steering Committee within four weeks of a general request being made for the same on the Website.
    4. If, the Member having committed some act or been guilty of behaviour inconsistent with membership of the Association, the Steering Committee resolves by a majority to remove him/her from the membership

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    Subscriptions

  7. The membership subscription shall be £100 and shall be paid within four weeks of a general request for payment appearing on the Website.
  8. Payment shall be made by way of cheque made payable to "Saunders & Co" sent to Saunders & Co solicitors at 10 Maltravers Street, London, WC2R 3EE ("the Association's Lawyers")
  9. All cheques received shall be paid into the client account of Saunders & Co
  10. The membership subscription shall be used to fund initial investigation into possible causes of legal action against Sukumo, its agents and other associated individuals and organisations and the location of their assets.
  11. Additional subscription payments may be introduced by a majority vote of the Steering Committee. Any additional subscription payment will then be notified to the membership via a posting on the Website.

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    Officers and Steering Committee

  12. The Members of the Association will elect from within the membership a Chairperson, Secretary and Treasurer and no more than 2 other members to serve on the Steering Committee.
  13. The Steering Committee is responsible for setting policy for the Association and providing instruction to the Association's Lawyers on behalf of the Members and shall have power to do everything necessary for these purposes.
  14. The Chairperson shall set the agenda in consultation with the Secretary and preside at all meetings of the Association and Steering Committee.
  15. The Secretary shall approve and maintain an up to date list of members, keep a record of the minutes of all meetings and send out meeting notices, minutes and other communications to the members as directed by the Steering Committee via email or by way of a notice posted on the Website.
  16. The Treasurer shall be responsible for receiving invoices from the Association's Lawyers on behalf of the Association, liasing with the Association's Lawyers regarding financial matters and arranging collections from time to time from Members in attendance at meetings to cover the costs of meeting rooms, refreshment and other incidental expenses as necessary.
  17. Any member of the Steering Committee may retire by giving one week's prior notice to the Secretary.
  18. 18. Any person who fails to attend one meeting of the Steering Committee without giving a reason acceptable to it shall cease automatically to be a member of the Steering Committee.
  19. Not less than 7 days notice shall be given by the Secretary to the Steering Committee of each meeting.
  20. All decisions at meetings of the Steering Committee will be made by a simple majority vote.

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    Communications

  21. The Association will send all communications to the Members by email or through posting notices on the Website. No correspondence will be sent to the home address of members.
  22. Save for sending subscription payments and submission of Membership Forms, the Members will not communicate with the Association's Lawyers directly. This is in the interest of managing expenditure by the Association and also ensuring that the Association gives instructions to its lawyers in an organised manner.
  23. The Association's Lawyers will receive instructions from and report to the Steering Committee who in turn will forward reports to the Members.

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    General Meetings

  24. A general meeting may be convened at any time upon a resolution of the Steering Committee.
  25. The business of a general meeting shall be:
    1. To receive the Chairman's report of the activities of the Association
    2. To receive and consider the accounts of the Association
    3. To elect officers and other members of the Steering Committee
    4. To otherwise amend the Rules

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    Proceedings At General Meetings

  26. Not less than 14 days prior notice of the resolutions to be proposed at the meeting and the date, time and location of the meeting shall be posted on the Website.
  27. Resolutions at general meetings shall be passed by a simple majority of the votes cast by the members at the meeting.
  28. Each Member shall have one vote on every resolution
  29. In the event of equality of voting the Secretary shall have the casting vote.

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    Accounts

  30. The Association's Lawyers will provide invoices and breakdown of all work done and disbursements to the Steering Committee
  31. No action involving expenditure of the subscriptions shall be made without the prior authority of a resolution of the Steering Committee.
  32. All Members agree to be bound by the resolutions of the Steering Committee regarding the expenditure of the subscriptions

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    Dissolution

  33. The Association may be dissolved by a resolution passed under article 27 or by a resolution of the Steering Committee if the number of members is less than 50 for a period of not less than one month.
  34. The dissolution shall take effect from the day the resolution is passed
  35. The Steering Committee shall be responsible for winding up the Association and if any property remains after the discharge of all debts and liabilities of the Association it shall be distributed equally amongst the Members of the Association at the date of dissolution.

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