Article 5Membership

5.1

All companies domiciled in an OSCE country, irrespective of their geographical or material field of activity, as well as corporate associations and organizations domiciled in the OSCE countries and representing the interests of business undertakings may become members of the EBC.

5.2

Membership is divided into ordinary members, senior members and sponsoring senior members. Members are to pay the new-membership fees and membership dues pursuant to Art. 5.4.1 and 5.4.2 as prescribed for the respective membership category, and they have voting rights pursuant to Art. 9.6 for the passing of resolutions at the General Meeting. Apart from this, all members have the same rights and duties. Only non-profit organisations and companies with less than US$ 50m turnover in the last fiscal year can become ordinary members.
For banks and other financial institutions, the term "turnover" is replaced by the aggregate income resulting from interest, dividends, fees and commissions, net gains from securities, net gains from securities dealing and from investment securities, net gains from foreign currency dealing and other operating income, net of value-added tax and other like direct taxes.

For insurance companies, the term “turnover" is replaced by the gross premium income.

Should this turnover limit be surpassed during membership of the EBC, then a change from ordinary membership to senior-membership will automatically be effected during the following EBC fiscal year. Companies with an annual turnover of more than US$ 1bn should generally be sponsoring senior members.

There are no restrictions on the acquisition of senior membership or of sponsoring senior membership, i.e. any member which is prepared to pay the appropriate new membership fees and membership dues may become a senior member or sponsoring senior member.

In the case of a change from one membership category to another, the difference in the higher new membership fee is to be paid in a single payment. In the case of a change to a lower membership category there can be no reimbursement of the new-membership fee.

5.3

Membership is conditional upon submission of a written application for membership to the Board of Directors. The Board of Directors decides on the application for membership; the decision is to be taken within 6 weeks.

5.4

The EBC charges members new membership fees and membership dues. The amounts are denominated in Euro (€). The General Meeting of Members may change membership dues and new membership fees by resolution.

5.4.1

The new-membership fee is € 800 for Ordinary Members, € 4,000 for Senior Members and € 16,000 for Sponsoring Senior Members. The new-membership fee is payable within one month of acceptance of the application for membership.

5.4.2

The annual membership dues are € 800 for Ordinary Members, € 4,000 for Senior Members and € 16,000 for Sponsoring Senior Members. The membership dues are to be paid annually in January (by 31.01) for each calendar year. If a member joins during a calendar year, membership dues are payable in full within a month for the entire current calendar year (no proportionate reduction).

Article 6Termination of membership

6.1

Membership of the EBC may be terminated at any time by written notice to the Board of Directors, with each Board of Directors member being entitled to accept the notice.

6.2

By resolution of the General Meeting of Members, a member may be expelled from the EBC for important cause.

6.3

Reasons for expulsion are in particular:

6.3.1

serious or repeated infringement of the Articles of Association of the EBC,

6.3.2

non-payment of the new membership fee or membership dues despite two written reminders,

6.3.3

relocation of the member company's domicile to a country outside the OSCE,

6.3.4

a member's insolvency or over-indebtedness.

6.4

New membership fees, membership dues and voluntary contributions are not refunded to a member who has left or been expelled.