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General regulation – Article 4 – Sanctions and exclusion procedure applicable to associates

4.1 – Sanctions

Any associate of the society guilty of an act detrimental to the society shall be obliged to repay the sums which it has lost or been deprived of as a result of said act. The society may, by any means, deduct the equivalent, plus any costs, from the sums from which the associate concerned may be a beneficiary.

4.2 – Suspension procedure

Any member whose actions contravene Articles 8.3 or 10 of the Statutes may have their voting rights suspended by the Board of Directors after consultation with the Ethics Committee. The disagreement of the Board of Directors with the opinion of the Committee must be justified in writing.
An associate threatened with suspension is notified at least one month before the meeting of the Board of Directors and the Ethics Committee, by registered letter with acknowledgement of receipt sent by the Managing Director, of the actions alleged against him. He is invited to speak before the Board of Directors, if necessary assisted by the associate of his choice and may consult his file at the society’s registered office and obtain a photocopy of the documents he wishes in exchange for payment of the corresponding costs. The minutes of the meeting of the Board of Directors and the supporting documents of the case are sent to him.

In the event that the interested party does not attend, the decision taken by the Board of Directors shall be deemed to be made in the presence of both parties, without prejudice to any other sanctions that may be incurred.

4.3 – Exclusion procedure

In accordance with Article 8 of the Statutes, the Extraordinary General Assembly is empowered, at the request of the Board of Directors after the opinion of the Ethics Committee, to decide that one or more associates shall cease to be part of the society.

An associate threatened with exclusion shall be notified at least forty-five days before the extraordinary General Assembly, by registered letter with acknowledgement of receipt sent by the Chairman of the Board of Directors, of the grievances against him. He is invited to speak before the Board of Directors, if necessary, assisted by the associate of his choice and may consult his file at the society’s registered office and obtain a photocopy of the documents he wishes in exchange for payment of the corresponding costs. The minutes of the meeting of the Board of Directors and the supporting documents of the file are made available to the associates with the text of the resolution put to the vote. Where the Board of Directors disagrees with the opinion of the Ethics Committee, this must be justified in writing.

Should the interested party not appear, the decision taken by the Extraordinary General Assembly shall be deemed to have been taken in the presence of both parties without prejudice to any other sanctions that may be incurred.

An associate threatened with expulsion does not take part in the vote on the resolution concerning him. The decision taken shall produce the effects provided for in Article 8 of the Statutes.

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