Date
2005 Reviewed: 2022
Purpose
To clarify the application of the Rules with respect to debentures of deceased members
Policy
- The debenture can be transferred within the family in accordance with Rule 13(4)(b)
- The normal Wait to Sell List process may then be followed, including meeting any outstanding financial obligations
- The committee needs to be informed of the intention to transfer the debenture within 12 months of the member’s death. Otherwise the debenture will be cancelled.
- The legal representative of the deceased member, or the new member who was assigned the debenture, may request special consideration by the Committee to vary this process. There is no obligation to grant special consideration.
Review
This policy is subject to Committee review from time to time.