SECTION I. GENERAL PROVISIONS
1.1. This Regulation defines the goals, objectives, and operating procedures of the Council of Members of the Republican Universal Agro-Industrial Exchange (hereinafter referred to as the Exchange) and regulates their work.
1.2. The Council is a self-governing body of the exchange members and represents the interests of the exchange members before the exchange.
1.3. The tasks of the Exchange Members Council are participation in improving exchange trading forms, monitoring compliance with the ethics of business relations among exchange members and traders, and providing recommendations for intensifying exchange trading.
1.4. The Board consists of 3 members, the Chairman of the Board is elected at the general meeting of the Exchange members.
1.5. Decisions of the Exchange Members' Council are advisory in nature for the executive body of the exchange.
1.6. Decisions of the Exchange Members Council are mandatory for all members of the exchange.
1.7. Decisions of the Exchange Members Council are made by a simple majority of votes.
1.8. A protocol shall be maintained at each meeting of the members' council.
1.9. Council meetings are convened by the Chairman as necessary, but at least once per quarter.
1.10. Issues requiring collective discussion may be submitted to the general meeting of the exchange members.
SECTION 2. TASKS OF THE EXCHANGE MEMBERS COUNCIL
2.1. Exchange Members Council:
- conveys the proposals and opinions of individual members of the Exchange to the executive body of the Exchange;
- discusses, formulates, and submits proposals for the development of exchange trading;
- participates in meetings on ethics violations by exchange members;
reviews applications from legal entities for membership in the exchange and for obtaining a brokerage seat, and provides recommendations to the Executive Body on admission to the exchange.
The criterion for consideration is the candidate's involvement in the exchange's trading volume and their regularity in exchange trading, rather than a one-time participation.
The Council promotes the maximum utilization of the large brokerage corps rather than increasing the number of non-functioning and inactive brokerage offices.
- assists the Executive Body of the Exchange in complying with the requirements of current legislation regulating exchange trading, the Rules of Exchange Trading, and the Internal Control Rules by conducting consultations and seminars with new members of the exchange;
- informs the Exchange's Executive Body of cases of violation of exchange legislation, collusion and facts of using insider information and corruption, if any exist;
- provides methodological and consulting assistance to the Exchange branches, up to and including travel to the regions;
- maintains the ethics of business relations between brokers, traders, and trading participants;
- proposes candidates for membership in the exchange and other commissions of the Exchange;
- annually reports on the results of its work to the members of the exchange. The report is sent to each member of the exchange at least 10 days before the next general meeting on;