Rules and Regulations Governing Membership

RULES AND REGULATIONS GOVERNING MEMBERSHIPARTICLE 1DefinitionsEXCHANGE OR PSEmeans Philippine Stock Exchange, Inc.  SEC means Securities & Exchange Commission.  MEMBERmeans a natural or corporate person who has been accepted as a member of the Exchange and who owns a Seat in the Exchange, including a Nominee Member.  INDIVIDUAL MEMBERmeans a Member who is a natural person.  CORPORATE MEMBERmeans a Member who is a Corporate person represented by a nominee.  NOMINEE MEMBERa natural person appointed by a Corporate Member.  SEAT means membership in the Exchange. ARTICLE 2Seat Ownership Each Member (other than a Nominee Member) shall own and hold and be entitled to only one Seat in the Exchange.There shall be only two hundred (200) Seats in the Exchange.ARTICLE 3Rights of MembersAll Members in good standing are entitled to vote in the regular and special meetings of the Members and may be voted upon or be appointed to any position and exercise the rights and perform the obligations appurtenant to such position.All Members shall have the right to participate in the assets of the Exchange upon its...