Common use of Application Process Clause in Contracts

Application Process. (a) A person who wishes to become a Member must submit an application to the Operator together with a Membership Agreement duly executed by the applicant. An application must be in the form and contain the information specified by the Operator and must be accompanied by any applicable fee. An application by two or more persons who intend to appoint an Agent Member must also satisfy the requirements of clause 4.5.1. (b) The Operator may, within five Business Days of receiving an application, ask the applicant to provide further information or clarification in support of the application. If such a request is made, the application is taken to have been made when the further information or clarification is provided to the Operator’s satisfaction. If the applicant does not provide further information or clarification to the Operator’s satisfaction within 15 Business Days of the request, then the application lapses. (c) The Operator must accept or refuse an application for membership within 15 Business Days of receipt of the application or, if later, receipt of any additional information or clarification requested under paragraph (b). (d) If the Operator is satisfied that an application is complete and the applicant is eligible to become a Member, then the Operator must accept the application and enter into the Membership Agreement with the applicant, on behalf of the Operator and all Members. (e) Each Member authorises the Operator to enter into a Membership Agreement with an applicant in accordance with this clause, on behalf of that Member. (f) If the Operator is not satisfied that an applicant is eligible to become a Member, then the Operator must refuse the application. (g) If the Operator refuses an application, then it must give the applicant written reasons for the refusal.