THE COLOMBO RUBBER TRADERS’ ASSOCIATION
Rules of the Colombo Rubber Traders’ Association
TITLE 1 The Association shall be styled the “Colombo Rubber Traders’ Association” and shall have its headquarters in Colombo.
OBJECTS 2 The objects of the Association shall be to promote the common interest of sellers and buyers of rubber in the Colombo market.
RULES 3 The rules of the Association may be repeated, revised, altered and new rules passed at any General Meeting. The interpretation of Rules shall be at the absolute discretion of the Committee.
SALE OF RUBBER 4 The sale of rubber in the Colombo market shall be subject to the Bye-Laws and Conditions of sale relating to the sale of rubber for the time being in force and from time to time passed and adopted by the Ceylon Chamber of Commerce and all buyers and sellers of rubber shall be bound by such Rules.
ELIGIBILITY FOR MEMBERSHIP 5     The following categories of persons, partnerships, firms or organizations shall be eligible for election as members of the Association, provided that the General Committee of the Association shall have the power to refuse to entertain applications for membership of the Association from persons afore-mentioned not actively engaged in the Rubber Industry; the interpretation of the term “actively engaged” shall be decided by the Committee at its absolute discretion
a) Buyers in the Colombo Rubber Market, Exporters of Rubber, Rubber Goods manufacturers who directly purchase rubber in the Colombo Rubber Market, and
b) All Sellers in the Colombo Rubber Market, Agents and Secretaries of Rubber Estates, Individual Rubber Plantation Companies, Private Plantation Proprietors, Millers of Rubber.
c) Rubber Brokers
    Category A shall be referred to as Buyers
    Category B shall be referred to as Sellers
    Category C shall be referred to as Brokers
  6 Candidates for admission as members of the Association shall be proposed and seconded by two members, one of whom shall be a member of the General Committee. Application shall be made on the forms set out on Appendix A and Appendix B, and any application that is not completed conforming to these requirements shall not be considered by the General Committee at its absolute discretion.
ELECTION OF MEMBERS 7 All elections of candidates for admission of the Association shall be made by the General Committee by ballot and decided by a simple majority.
GENERAL COMMITTEE 8 a) The business of the Association shall be managed by a General Committee consisting of six representatives of Sellers of rubber, six representatives of Buyers of Rubber and one representative of Brokers.

The Broker representative shall not be entitled to vote at any meeting of the General Committee.

The General Committee may also nominate to the Committee additional members if this should be considered necessary to afford representation on the Committee to any particular section of the trade or industry provided any such members so nominated shall only be entitled to participate in the deliberations of the Committee but shall not be entitled to vote.
b) No member of the Association shall have more than one representative on the General Committee except a corporate body which is a member, whose representative has been elected Chairman, in which case that member will have the right to nominate another representative to the Committee.
c) The General Committee shall elect two of its members other than the Broker Representatives to be the Chairman and the Vice Chairman of the Association. The Chairman or in his absence, the Vice Chairman shall preside at meetings of the Association and of the General Committee.
d) Five member shall form a quorum for a meeting of the General Committee
e) The Chairman of every meeting of the General Committee shall have a casting vote in case of an equality of votes.
f) In the event of the Chairman and the Vice Chairman not being present at any Committee Meeting, other members present may elect a Chairman from among themselves for the meeting only, provided the requirements stipulated in Rule 8(d) is satisfied.
ELECTION OF COMMITTEE 9 The annual election of six members to serve as buyers’ representatives of the General Committee and the election of six members as seller representatives shall be by secret ballot. Voting cards issued to members not later that the 24th January of each year and returned within two weeks of issue. The voting cards shall be examined by scrutineers appointed by the General Committee and the result of the ballot will be certified by the scrutineers and the results notified to the membership, and shall be included in the annual report of the General Committee.
10 The Committee thus elected will assume office from the 1st of April every year. The Chairman and Vice Chairman will be elected by the new Committee at its first meeting in April every year. The Annual General Meeting will be held as per section 12 after the assumption of office by the new Committee.
VACANCY ON COMMITTEE 11 Any vacancy in the number of elected members representing sellers’ or buyers interests shall be filled by the remaining members of the Committee. Any vacancies occurring in the representation of brokering interests shall be filled by the Colombo Brokers’ Association or General Committee appropriate
ANNUAL GENERAL MEETING & REPORT 12   The Annual General Meeting of the Association shall be held not later than the thirty first day of July in each year for the transaction of the following business:
a) To receive the report of the Committee and the audited accounts of the Association for the previous financial year.
b) To notify the members of the new Committee
c) To notify the appointment of the Chairman and Vice Chairman
d) To appoint auditors
e) To deal with any other business of which five days notice shall have been given
  The General Committee shall prepare an annual report and audited accounts of the Association for each financial year, which shall run from April 01st to march 31st of the following year. The annual report shall be circulated to members at least 7 days prior to the Annual General Meeting at which it is to be received.
GENERAL MEETING 13 The General meeting, may whenever they think, fit, and shall upon the requisition in writing of any seven members of the Association, convene a General Meeting of the Association
14 Upon the receipt of such requisition, which shall specify the object of the meeting desired to be called, the General Committee shall forthwith proceed to convene a General Meeting to be held within 20 days.
GENERAL MEETING NOTICE 15 Fourteen days’ notice of all General Meeting shall be given to the members in writing, or by advertisement in two or more of the Colombo daily papers.
GENERAL MEETINGS FORUM OF REPRESENTATION OF MEMBERS 16 No General Meeting shall be valid at which less than fifteen members shall be present. An organization belonging to the Association may be represented at any General meeting by a duly authorized representative.
GENERAL MEETINGS VOTING 17 At a General Meeting each member shall have one vote only, and the Chairman of the General Meeting shall have a casting vote in the case of an equality of votes.
DISCIPLINARY ACTION AGAINST MEMBERS 18   If it shall at any time appear to the Committee, whether upon a formal complaint, or from information received in the course of arbitration or otherwise that a member or members may have been guilty of any irregular action,
a)   The Committee may initiate disciplinary measures as it may think fit. The Committee shall for the purpose of any investigation by it, have all powers which it deems necessary for the ascertainment of the facts and in particular, shall have power:
i) To call for evidence (documentary and attendance of witnesses) which it considers requisite.
ii) To call upon any member to submit his books for record for examination as it may, directed by the Committee or by a firm of Accountants appointed by the Committee.
b)   The Committee may censure, suspend or expel or otherwise penalize in such manner pecuniary or otherwise, as it shall think just, any member of the Association who is found by the Committee to have:
i) Violated any regulations of rules of the Association or failed to comply with any of the decisions taken by the Committee
ii) Violated the Ceylon Chamber of Commerce Bye-Laws and Conditions of Sale governing Sale of Rubber
iii) Been guilty of improper dealing or any other dishonourable or disgraceful conduct,
iv) Acted in his conduct or business in a manner detrimental to the interest of the Association or the Rubber trade,
v) Acted in a manner unbecoming of a member,
vi) Acted in his conduct or business, in a manner likely to bring the Association into disrepute.
  A resolution for censure, suspension, expulsion or other penalization under this Rule shall be deemed to be carried out at a meeting of a Committee specially summoned and at which not less than six members are present, 2/3rds of those present record their votes in favour of the resolution. If the Committee so decides, the voting shall be by secret ballot.
The member shall, before any such resolution is passed, have an opportunity of being heard by the Committee.
RETIREMENT OF MEMEBRS 19 Any member of the Association may retire from the Association on giving notice in writing to the General Committee of his intention to do so.
MEMBERS TO BE BOUND BY RULES 20 Every member of the Association shall subscribe and bind himself faithfully to abide by the Rules of the Association.
INSOLVENCY OF MEMBERS 21 Any member of the Association shall cease to be a member in the event of his filing a petition of insolvency or being adjudicated a bankrupt; but such member shall be eligible for re-election
ENTRANCE FEES & ANNUAL SUBSCRIPTION ETC. 22 The entrance fee and the annual subscription from members shall be fixed from time to time by the General Committee.
Such fees shall be payable in advance annually on or before January 15th each year.
ACCOUNTS 23 A duly audited statement of this Association’s Accounts as at 31st March of each year shall be included in the Annual Report of the General Committee required under Rule 12.
SECRETARY 24 The Secretary of the Ceylon Chamber of Commerce shall be ex-officio Secretary of the Association.
© Colombo Rubber Traders’ Association