| 3
FINANCE |
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| 3.1
GENERAL |
| 3.1.1 |
The
financial year of the RSYC shall be from and including the first
day of January to and including the thirty-first day of December
in the same year. |
| 3.1.2 |
Any
person ceasing from any cause to be a Member of the RSYC shall nevertheless
remain liable for the payment of all subscriptions and other money
due and payable by him to the RSYC. |
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| 3.2
MONTHLY SUBSCRIPTION |
| 3.2.1 |
The
RSYC Committee shall from time to time determine the monthly subscription
payable by the various categories of Members. |
| 3.2.2 |
The
monthly subscription shall be chargeable from the date of approval
of the Membership and shall thereafter be payable in advance on
the first day of each month. |
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| 3.3
OTHER CHARGES |
| 3.3.1 |
The
RSYC Committee shall determine the monthly Marine and other charges
payable from time to time. |
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| 3.4
PAYMENT OF ACCOUNTS |
| 3.4.1 |
Members
will receive a Statement of Accounts setting out transactions for
the month around the middle of the following month. The account
is due and payable when rendered. |
| 3.4.2 |
Accounts
must be settled within 21 days of the date of the statement of accounts. |
| 3.4.3 |
Any
Member who considers there is an error in the account should immediately
notify the Management. |
| 3.4.4 |
The
RSYC Committee may also call upon a Member to make a deposit to
keep his account in credit in accordance with the Constitution rule
12.3. |
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| 3.5
REMINDERS |
| 3.5.1 |
A
reminder will be sent to the Member if the account is not settled
within 21 days. If settlement is not received within 14 days of
the date of the reminder, the Member's account will be suspended
and all future transactions will have to be settled by credit card. |
| 3.5.2 |
A
final reminder, for which there is an administrative charge of $30,
will be sent by registered post if a Member fails to settle his
account within a total of 35 days from the statement date or within
14 days from the date of a letter requesting an increase in the
deposit. The Member is required to fully settle his account within
14 days from the date of the final reminder. |
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| 3.6
DEFAULT PROCESS |
| 3.6.1 |
If
a Member fails to pay within 14 days of the date of the final reminder
the RSYC Committee shall be entitled by a resolution to suspend
such Member from all activities of RSYC and to post such Member
as a defaulter. |
| 3.6.2 |
If
the sums are not paid within a period of 14 days from the date of
posting, the Member in default shall cease to be a Member of the
RSYC and his name shall be erased from the books of the RSYC. |
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| 3.7
REINSTATMENT |
| 3.7.1 |
A
defaulted Member may apply to the RSYC Committee for reinstatement
in accordance with the Constitution 12.6 provided that he: |
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| 3.7.1.1 |
Gives
an explanation satisfactory to the RSYC Committee and |
| 3.7.1.2 |
Upon
payment of all arrears, and |
| 3.7.1.3 |
Settlement
of all the expenses incurred by the Club. |
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| 3.7.2 |
Arrears
include the total sum owing at the time of the default, subscriptions
for the months since the defaulter process was effected to date,
all berthing charges and Easy Payment Scheme amounts outstanding.
Expenses include all legal costs and an administration fee. |
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| 3.8
DEPOSITS |
| 3.8.1 |
Every
Member shall pay deposits for food and beverage and berthing charges
etc. of such sums determined by the RSYC Committee from time to
time. |
| 3.8.2 |
The
RSYC Committee, in accordance with the Constitution, may impose
an additional deposit to ensure that a Member's account is always
maintained in credit upon reinstatement. |
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| 3.9
CHANGE OF ADDRESS |
| 3.9.1 |
Every
Member shall advise the General Manager of any change in address
and all notices required by these Rules to be sent or given to Members
shall be deemed to have been sent or given if sent to such address. |
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