Common use of Joint applications Clause in Contracts

Joint applications. (a) Two or more persons who wish to become Members and appoint an Agent Member may submit a joint application under clause 4.2(a). (b) Two or more Members who wish to appoint an Agent Member or (if they are already Appointing Members) replace their Agent Member must submit a joint application under this clause 4.5.1. (c) In addition to satisfying the requirements of clause 4.2 (where applicable), a joint application under clause 4.2(a) or this clause 4.5.1 must: (i) contain the information specified by the Operator about the proposed Agent Member; and (ii) be accompanied by information in a form satisfactory to the Operator evidencing that all the applicants have appointed the proposed Agent Member to act as their agent under and in connection with this Agreement and in respect of the same participant category, and that the Agent Member has accepted that appointment. (d) To be eligible to act as an Agent Member, a person must: (i) have been jointly appointed by two or more Members (one of whom may also be the Agent Member) to be their Agent Member and that appointment must not have been revoked; (ii) be resident in, or have a permanent establishment in, Australia; (iii) not be an externally-administered body corporate (as defined in the Corporations Act) or under a similar form of administration under the laws of some other jurisdiction; (iv) not be immune from liabilities incurred as an Agent Member; and (v) be capable of being sued in its own name in a court of competent jurisdiction. (e) Clause 4.2 applies to the consideration of a joint application under this clause with any necessary changes. In addition, in the case of an application under either clause 4.2 or this clause, if the Operator is not satisfied that any proposed Agent Member is eligible, then the Operator may refuse to accept the appointment (even it accepts the application for membership). (f) If the Operator accepts the appointment of an Agent Member, it must notify the applicants. (g) There is deemed to be a Suspension Event for the purposes of clause 19.2(a)(ii) in relation to all the Appointing Members for the Agent Member and the Operator may impose a Trading Halt in accordance with and subject to the provisions of clause 19 if either of the following occurs: (i) if the Operator has reasonable grounds to believe that an Agent Member is no longer eligible to be an Agent Member and the Appointing Members (themselves or through the Agent Member) have failed to give the Operator information to verify the Agent Member’s continued eligibility within 2 Business Days of the Operator requesting that information from the Appointing Members; (ii) for any reason, there is no current Agent Member in respect of the Appointing Members.

Joint applications. (a) Two or more persons who wish to become Members and appoint an Agent Member may submit a joint application under clause 4.2(a). (b) Two or more Members who wish to appoint an Agent Member or (if they are already Appointing Members) replace their Agent Member must submit a joint application under this clause 4.5.1. (c) In addition to satisfying the requirements of clause 4.2 (where applicable), a joint application under clause 4.2(a) or this clause 4.5.1 must: (i) contain the information specified by the Operator about the proposed Agent Member; and (ii) be accompanied by information in a form satisfactory to the Operator evidencing that all the applicants have appointed the proposed Agent Member to act as their agent under and in connection with this Agreement and in respect of the same participant category, and that the Agent Member has accepted that appointment. (d) To be eligible to act as an Agent Member, a person must: (i) have been jointly appointed by two or more Members (one of whom may also be the Agent Member) to be their Agent Member and that appointment must not have been revoked; (ii) be resident in, or have a permanent establishment in, Australia; (iii) not be an externally-administered body corporate (as defined in the Corporations Act) or under a similar form of administration under the laws of some other jurisdiction; (iv) not be immune from liabilities incurred as an Agent Member; and (v) be capable of being sued in its own name in a court of competent jurisdiction. (e) Clause 4.2 applies to the consideration of a joint application under this clause with any necessary changes. In addition, in the case of an application under either clause 4.2 or this clause, if the Operator is not satisfied that any proposed Agent Member is eligible, then the Operator may refuse to accept the appointment (even it accepts the application for membership). (f) If the Operator accepts the appointment of an Agent Member, it must notify the applicants. (g) There is deemed to be a Suspension Event for the purposes of clause 19.2(a)(ii) in relation to all the Appointing Members for the Agent Member and the Operator may impose a Trading Halt in accordance with and subject to the provisions of clause 19 if either of the following occurs: (i) if the Operator has reasonable grounds to believe that an Agent Member is no longer eligible to be an Agent Member and the Appointing Members (themselves or through the Agent Member) have failed to give the Operator information to verify the Agent Member’s continued eligibility within 2 Business Days of the Operator requesting that information from the Appointing Members; (ii) for any reason, there is no current Agent Member in respect of the Appointing Members.