SDE Notice

Constitution for Shanghai Diamond Exchange

2004-10-20 16:39:00发布自

Chapter I General Provisions Article 1 For the purpose of regulating the diamond transactions, protecting the legitimate rights and interests of all involved parties, safeguarding the fair, just and orderly conduct of the diamond transactions, and promoting the development of China’s diamond market, this Constitution is formulated in accordance with relevant laws and regulations and with reference to international practice. Article 2 The full name of this exchange is the Shanghai Diamond Exchange, simplified as the SDE. Its Chinese full name is “上海钻石交易所”, simplified as “钻交所”. Article 3 The SDE is located on the 6th floor of Jin Mao Tower at No. 88 of Century Boulevard in Shanghai. Article 4 The SDE is a non-profitable and self-regulating membership organization. It provides the diamond dealers with a fair, just, and secure transaction venue under closed management and abides by all the relevant laws, regulations and policies of the State. Article 5 The SDE consists of the following bodies: A. The Organ of Power. The Membership Conference of the Shanghai Diamond Exchange (the“Membership Conference”) is the organ of power of the SDE, consisting of all the members. B. The Standing Organization. The Supervision Council of the Shanghai Diamond Exchange (the “Supervision Council”) is the standing organization of the Membership Conference, to which it is responsible. C. Special Committees. The Discipline Committee of the Shanghai Diamond Exchange (the “Discipline Committee” ) and the Arbitration Committee of the Shanghai Diamond Exchange (the “Arbitration Committee” ) shall be elected by and responsible to the Membership Conference. Other special committees shall be employed by and responsible to the Supervision Council. D. President. The President of the Shanghai Diamond Exchange (the “President”) shall be nominated by the Supervision Council and appointed and removed by the Shanghai Diamond Exchange Administration (the “SDEA”). The President shall be responsible to the Supervision Council and SDEA. The daily routines of SDE will be entrusted to Shanghai Diamond Exchange Co., Ltd. Article 6 The SDE shall be subject to the coordination, direction, and supervision of the SDEA. Article 7 All the activities of the SDE shall comply with laws and regulations of the People’s Republic of China and shall not harm the public interests and the legitimate rights of other organizations and citizens. Article 8 Members of the SDE and their transaction behaviors shall abide by this Constitution. Chapter II SDE Member Article 9 All the qualified members shall A. Be corporate diamond enterprises with independent legal entity registered in the People’s Republic of China; B. Have dealt with diamond business domestically or internationally for at least 3 years (including 3 years); C. Have good business credit; D. Have two recommendation letters signed by full members. The full members shall have sound knowledge about the personal and business credit of the applicant; and E. Accept this Constitution, comply with all the SDE rules, and pay the admission fee and annual fee on time. Article 10 The members consist of the formal members and the pre-members. The probationary period for a pre-member is two years. After the two years, a pre-member may become a formal member upon the approval by the Supervision Council through voting and the report to the SDEA for record. If the Supervision Council votes against the application to become a formal member, the probationary period may be prolonged for 6 to 12 months or the pre-membership shall be cancelled. The Supervision Council shall submit to the SDEA for record the materials of the prolonged pre-membership or cancellation of pre-membership. The shareholders of Shanghai Diamond Exchange Co., Ltd. or their appointed subordinate companies, and other original SDE members shall be formal members. Article 11 The member introduction procedure of the SDE shall be as follows: First, an applicant shall fill in the“Application for the Shanghai Diamond Exchange Membership” and then submit related materials to the SDE; Second, the SDE shall submit the materials to the president for signature and publicize the applicant’s name, legal representative (his/her name and photo), and authorized representative (his/her name and photo) and its recommender’s name and legal representative within 10 days after it receives the complete application package. The publication shall last for 30 days; Third, the meeting of the Supervision Council shall cast vote for the applicant’s pre-membership and make a decision whether to accept the applicant as pre-member after listening to the report about the applicant and public response made by the president; Fourth, if the pre-membership is approved, an organization authorized by the president shall be responsible for registering the pre-membership, awarding the pre-membership certificate and publishing the pre-membership information in the SDE. If the pre-membership is denied to an applicant, the applicant may apply again after one year. Article 12 Members can send their representatives to the SDE for diamond transactions. The members shall notify in written form the information about these representatives to the SDE and SDEA. Representatives shall meet the following requirements: A. Having dealt with diamond business domestically or internationally for at least 3 years (including 3 years); B. Giving proof of their good conduct. Members shall sign the proxy contract with their representatives and take all the responsibilities for the business activities of their representatives. When the proxies are changed, the members shall notify the SDE and the SDEA about the change in written form. Article 13 Members shall enjoy the following rights: A. Right to participate the Membership Conference; B. Right to deal with diamond import, export and transaction, and to enjoy public facility and services provided by the SDE; C. Right to propose amendments to the transaction rules and management system of the SDE; D. Right to raise objection to the admission of an applicant; E. Right to elect and to be elected as members of the Supervision Council, the Discipline Commission or the Arbitration Commission; F. Right to be members of other special commissions; G. Right to recommend new members; and H. Other Rights authorized by the Membership Conference. Pre-members enjoy all the above rights except E, F and G. Article 14 Members shall take the following obligations: A. Complying with this Constitution and all the rules of the SDE; B. Subjecting themselves to the management and supervision of the SDE and related authorities; C. Taking obligations for all their behaviors at the SDE; and D. Paying admission fee, annual membership fee, and other fees according to the rules of the SDE. Article 15 The applicants shall be accepted as pre-member through transference of membership if they meet the following qualifications: A. All the conditions mentioned in Article 9, except for the one about the paying of the admission fee; B. The transferor and transferee shall sign a letter of transference. The transference formalities shall be gone through with reference to Item 1 of Article 12. Article 16 Membership shall be terminated once any of the following situations occurs: A. A member submits an application to withdraw from the SDE and the application is approved by the Supervision Council; B. The Supervision Council deprives a member of its membership; C. The Supervision Council disapproves of the membership due to the disintegration or merging or closing down of holding enterprises; or D. Holding enterprises are broken up, bankrupted or closed down. The Supervision Council shall report the materials about the termination of membership to the SDEA for record. Chapter III Membership Conference Article 17 The Membership Conference shall have at least one session each year. The Supervision Council shall send the members a written notice along with the agenda 30 days before convoking the conference. The members shall inform the Supervision Council whether they will attend the conference in written form after receiving the notice. The conference opens on the condition that more than half of members (including half) attends the conference. Its resolution shall not become effective unless 2/3 of the attending members approve it. Each member has only one vote. Article 18 The Membership Conference exercises the following rights: A. To discuss and amend the Constitution for the Shanghai Diamond Exchange, transaction rules and other regulations; B. To dismiss and elect members of the Supervision Council, Discipline Commission, and Arbitration Commission; C. To discuss and approve the working report by the Supervision Council and the financial budget report of the SDE; and D. To make other important decisions for the SDE. Article 19 When the Membership Conference is not in session, temporary session may be convoked in accordance with Item 2, 3 of Article 18 in any of the following case: A. 1/3 of the members jointly propose; or B. the Supervision Council thinks it necessary. Article 20 The plenary session and the temporary session shall be convoked by the Supervision Council, chaired by the Supervision Council Chairman or an appointed council director. Chapter IV Supervision Council Article 21 The major responsibilities of the Supervision Council are: A. To draft the Constitution, transaction rules and other rules; B. To frame and amend the management rules of the SDE; C. To manage the admission fees, annual membership fees, and other legal income; D. To employ or dismiss members of all special commissions except the Discipline Commission and the Arbitration Commission; E. To elect or dismiss the Director General and Deputy Director Generals of the Supervision Council; F. To discuss and approve new memberships, formal membership awarding, membership withdrawal application and to deprive a member of its membership; G. To discuss the working report about the daily management of the SDE submitted by the president; and H. To take other responsibilities authorized by the Membership Conference. Article 22 The Supervision Council directors shall be elected from members of the Membership Conference. Non-member directors shall be appointed by the SDEA. A director shall hold the office for a term of three years and a director may have consecutive terms. Council directors shall have its legal representatives to perform all its obligations. An appointed person, with written appointment letter, may also represent the directors for certain reasons. The president of the SDE is the permanent council director. The first group of council directors shall be nominated by the SDEA from the original members and shall be approved by the Membership Conference. Article 23 The Supervision Council consists of all the council directors and the total number of the directors shall be odd. The Supervision Council shall have one Chairman and several Vice-Chairmen who are elected from the present directors. They may hold their office for consecutive terms with each term of three years. The Chairman shall be of Chinese nationality. The Supervision Council shall have one Honorary Chairman and several Honorary Directors, who shall be celebrities in the diamond trade. All the Supervision Council directors shall be approved by the SDEA. The original Chairman and Vice Chairmen shall be appointed by the SDEA and shall be approved by the Supervision Council. Article 24 The Chairman or an appointed director shall convene a meeting of the Supervision Council once each 6 months. The meeting shall open on the condition that 2/3 of the council directors attend the meeting. Its resolution shall not become effective until 2/3 of the attending directors approve it. Chapter V Senior Management Personnel Article 25 Senior management personnel refer to the President, vice presidents, and management staff of the standing bodies of the SDE. Any senior management personnel shall not have concurrent occupations in any member enterprise and shall not be the representative to the SDE for any member. All the senior management personnel of the SDE shall be reported to the SDEA for record. Article 26 The President shall be responsible for the daily management of the SDE, aided by other senior managers. The Supervision Council shall determine the detailed responsibilities and the term of office of the President. Vice presidents shall nominated by the president and appointed and removed by SDEA. The president shall be responsible for the responsibilities and employment of other senior management personnel. Chapter VI Special Commissions Article 27 The Discipline Commission shall be responsible for the penalty imposed on the members who violate this Constitution and relevant rules. It shall propose to the Supervision Council to dismiss the members who seriously violate the rules. The working rules of the Discipline Commission shall be formulated by the Supervision Council, be approved by the Membership Conference, and become effective after the ratification by SDEA. Article 28 The Arbitration Commission shall be responsible for the arbitration of transaction-related disputes among members in the SDE. The arbitration principles will be stipulated separately by the Supervision Council, be approved by the Membership Conference, and become effective after the ratification by the SDEA. Article 29 Other Special Commissions shall be decided and established by the Supervision Council and shall be reported to the SDEA for record. Chapter VII Disputes Settlement Article 30 The Chairman of the Supervision Council shall appoint two Directors on Duty from all the council every two weeks or authorize the President to be responsible for the maintenance of daily transaction and the settlement of transaction-related disputes. Article 31 Members can settle any dispute during the transaction procedure by themselves. If the members fail to agree upon a settlement on their own, any of them can resort to the Director on Duty for mediation. Article 32 With regard to the on spot settlement by the Director on Duty, if the two parties can reach agreement or accept the director’s mediation, the agreement and mediation shall be taken down in written form and joint signed by the director and the two parties concerned. The written record shall have binding power to both parties. Article 33 If the two disputing parties can not reach agreement or refuse to accept the mediation of the Directors on Duty, the two parties and the Directors on Duty shall take the dispute down in written form and apply for arbitration according to the arbitration rules of the SDE. Chapter VIII Penalty Article 34 The Directors on Duty may suspend the transaction of, give warning or impose penalty to the members who violate the transaction rules according to relevant transaction rules. The penalty items shall be reported to the SDEA for record on time. Article 35 The relevant organizations of the SDE shall, in accordance with relevant provisions of the SDE, impose penalty to the members who violate this Constitution and other rules of the SDE. The penalty items shall be reported to the SDEA for record on time. Chapter IX Financial Management Article 36 The income of the SDE consists of A. Admission fees paid by new members; B. Annual membership fees paid by members; C. Other legal income. The expenditure of the SDE consists of A. SDE venue rent; B. Salary of SDE staff; C. Other expenditures approved by the Supervision Council. Article 37 The Supervision Council should compile the annual financial budget report in accordance with relevant laws. The report shall, after being examined by certified accountants, be submitted to the Membership Conference for review and adoption and to the SDEA for record. Chapter X Supplementary Provisions Article 38 The transaction rules and other rules of SDE shall be formulated separately by the Supervision Council and shall become effective after the approval is granted by the SDEA. Article 39 “Inside the mainland of China” referred to in this Constitution means inside the boundaries of the mainland of China as established according to the current tariff area, and the Hongkong Special Administrative Region, the Macao Special Administrative Region, and the Taiwan Region are not included. Article 40 The Supervision Council is responsible for explaining this Constitution. Article 41 The amendment to this Constitution shall be adopted at the Membership Conference and shall be reported to the SDEA for examination and approval. Article 42 This Constitution shall become effective after being adopted at the Membership Conference and being reported to the SDEA for examination and approval. Constitution for Shanghai Diamond Exchange Chapter I General Provisions Article 1 For the purpose of regulating the diamond transactions, protecting the legitimate rights and interests of all involved parties, safeguarding the fair, just and orderly conduct of the diamond transactions, and promoting the development of China’s diamond market, this Constitution is formulated in accordance with relevant laws and regulations and with reference to international practice. Article 2 The full name of this exchange is the Shanghai Diamond Exchange, simplified as the SDE. Its Chinese full name is “上海钻石交易所”, simplified as “钻交所”. Article 3 The SDE is located on the 6th floor of Jin Mao Tower at No. 88 of Century Boulevard in Shanghai. Article 4 The SDE is a non-profitable and self-regulating membership organization. It provides the diamond dealers with a fair, just, and secure transaction venue under closed management and abides by all the relevant laws, regulations and policies of the State. Article 5 The SDE consists of the following bodies: A. The Organ of Power. The Membership Conference of the Shanghai Diamond Exchange (the“Membership Conference”) is the organ of power of the SDE, consisting of all the members. B. The Standing Organization. The Supervision Council of the Shanghai Diamond Exchange (the “Supervision Council”) is the standing organization of the Membership Conference, to which it is responsible. C. Special Committees. The Discipline Committee of the Shanghai Diamond Exchange (the “Discipline Committee” ) and the Arbitration Committee of the Shanghai Diamond Exchange (the “Arbitration Committee” ) shall be elected by and responsible to the Membership Conference. Other special committees shall be employed by and responsible to the Supervision Council. D. President. The President of the Shanghai Diamond Exchange (the “President”) shall be nominated by the Supervision Council and appointed and removed by the Shanghai Diamond Exchange Administration (the “SDEA”). The President shall be responsible to the Supervision Council and SDEA. The daily routines of SDE will be entrusted to Shanghai Diamond Exchange Co., Ltd. Article 6 The SDE shall be subject to the coordination, direction, and supervision of the SDEA. Article 7 All the activities of the SDE shall comply with laws and regulations of the People’s Republic of China and shall not harm the public interests and the legitimate rights of other organizations and citizens. Article 8 Members of the SDE and their transaction behaviors shall abide by this Constitution. Chapter II SDE Member Article 9 All the qualified members shall A. Be corporate diamond enterprises with independent legal entity registered in the People’s Republic of China; B. Have dealt with diamond business domestically or internationally for at least 3 years (including 3 years); C. Have good business credit; D. Have two recommendation letters signed by full members. The full members shall have sound knowledge about the personal and business credit of the applicant; and E. Accept this Constitution, comply with all the SDE rules, and pay the admission fee and annual fee on time. Article 10 The members consist of the formal members and the pre-members. The probationary period for a pre-member is two years. After the two years, a pre-member may become a formal member upon the approval by the Supervision Council through voting and the report to the SDEA for record. If the Supervision Council votes against the application to become a formal member, the probationary period may be prolonged for 6 to 12 months or the pre-membership shall be cancelled. The Supervision Council shall submit to the SDEA for record the materials of the prolonged pre-membership or cancellation of pre-membership. The shareholders of Shanghai Diamond Exchange Co., Ltd. or their appointed subordinate companies, and other original SDE members shall be formal members. Article 11 The member introduction procedure of the SDE shall be as follows: First, an applicant shall fill in the“Application for the Shanghai Diamond Exchange Membership” and then submit related materials to the SDE; Second, the SDE shall submit the materials to the president for signature and publicize the applicant’s name, legal representative (his/her name and photo), and authorized representative (his/her name and photo) and its recommender’s name and legal representative within 10 days after it receives the complete application package. The publication shall last for 30 days; Third, the meeting of the Supervision Council shall cast vote for the applicant’s pre-membership and make a decision whether to accept the applicant as pre-member after listening to the report about the applicant and public response made by the president; Fourth, if the pre-membership is approved, an organization authorized by the president shall be responsible for registering the pre-membership, awarding the pre-membership certificate and publishing the pre-membership information in the SDE. If the pre-membership is denied to an applicant, the applicant may apply again after one year. Article 12 Members can send their representatives to the SDE for diamond transactions. The members shall notify in written form the information about these representatives to the SDE and SDEA. Representatives shall meet the following requirements: A. Having dealt with diamond business domestically or internationally for at least 3 years (including 3 years); B. Giving proof of their good conduct. Members shall sign the proxy contract with their representatives and take all the responsibilities for the business activities of their representatives. When the proxies are changed, the members shall notify the SDE and the SDEA about the change in written form. Article 13 Members shall enjoy the following rights: A. Right to participate the Membership Conference; B. Right to deal with diamond import, export and transaction, and to enjoy public facility and services provided by the SDE; C. Right to propose amendments to the transaction rules and management system of the SDE; D. Right to raise objection to the admission of an applicant; E. Right to elect and to be elected as members of the Supervision Council, the Discipline Commission or the Arbitration Commission; F. Right to be members of other special commissions; G. Right to recommend new members; and H. Other Rights authorized by the Membership Conference. Pre-members enjoy all the above rights except E, F and G. Article 14 Members shall take the following obligations: A. Complying with this Constitution and all the rules of the SDE; B. Subjecting themselves to the management and supervision of the SDE and related authorities; C. Taking obligations for all their behaviors at the SDE; and D. Paying admission fee, annual membership fee, and other fees according to the rules of the SDE. Article 15 The applicants shall be accepted as pre-member through transference of membership if they meet the following qualifications: A. All the conditions mentioned in Article 9, except for the one about the paying of the admission fee; B. The transferor and transferee shall sign a letter of transference. The transference formalities shall be gone through with reference to Item 1 of Article 12. Article 16 Membership shall be terminated once any of the following situations occurs: A. A member submits an application to withdraw from the SDE and the application is approved by the Supervision Council; B. The Supervision Council deprives a member of its membership; C. The Supervision Council disapproves of the membership due to the disintegration or merging or closing down of holding enterprises; or D. Holding enterprises are broken up, bankrupted or closed down. The Supervision Council shall report the materials about the termination of membership to the SDEA for record. Chapter III Membership Conference Article 17 The Membership Conference shall have at least one session each year. The Supervision Council shall send the members a written notice along with the agenda 30 days before convoking the conference. The members shall inform the Supervision Council whether they will attend the conference in written form after receiving the notice. The conference opens on the condition that more than half of members (including half) attends the conference. Its resolution shall not become effective unless 2/3 of the attending members approve it. Each member has only one vote. Article 18 The Membership Conference exercises the following rights: A. To discuss and amend the Constitution for the Shanghai Diamond Exchange, transaction rules and other regulations; B. To dismiss and elect members of the Supervision Council, Discipline Commission, and Arbitration Commission; C. To discuss and approve the working report by the Supervision Council and the financial budget report of the SDE; and D. To make other important decisions for the SDE. Article 19 When the Membership Conference is not in session, temporary session may be convoked in accordance with Item 2, 3 of Article 18 in any of the following case: A. 1/3 of the members jointly propose; or B. the Supervision Council thinks it necessary. Article 20 The plenary session and the temporary session shall be convoked by the Supervision Council, chaired by the Supervision Council Chairman or an appointed council director. Chapter IV Supervision Council Article 21 The major responsibilities of the Supervision Council are: A. To draft the Constitution, transaction rules and other rules; B. To frame and amend the management rules of the SDE; C. To manage the admission fees, annual membership fees, and other legal income; D. To employ or dismiss members of all special commissions except the Discipline Commission and the Arbitration Commission; E. To elect or dismiss the Director General and Deputy Director Generals of the Supervision Council; F. To discuss and approve new memberships, formal membership awarding, membership withdrawal application and to deprive a member of its membership; G. To discuss the working report about the daily management of the SDE submitted by the president; and H. To take other responsibilities authorized by the Membership Conference. Article 22 The Supervision Council directors shall be elected from members of the Membership Conference. Non-member directors shall be appointed by the SDEA. A director shall hold the office for a term of three years and a director may have consecutive terms. Council directors shall have its legal representatives to perform all its obligations. An appointed person, with written appointment letter, may also represent the directors for certain reasons. The president of the SDE is the permanent council director. The first group of council directors shall be nominated by the SDEA from the original members and shall be approved by the Membership Conference. Article 23 The Supervision Council consists of all the council directors and the total number of the directors shall be odd. The Supervision Council shall have one Chairman and several Vice-Chairmen who are elected from the present directors. They may hold their office for consecutive terms with each term of three years. The Chairman shall be of Chinese nationality. The Supervision Council shall have one Honorary Chairman and several Honorary Directors, who shall be celebrities in the diamond trade. All the Supervision Council directors shall be approved by the SDEA. The original Chairman and Vice Chairmen shall be appointed by the SDEA and shall be approved by the Supervision Council. Article 24 The Chairman or an appointed director shall convene a meeting of the Supervision Council once each 6 months. The meeting shall open on the condition that 2/3 of the council directors attend the meeting. Its resolution shall not become effective until 2/3 of the attending directors approve it. Chapter V Senior Management Personnel Article 25 Senior management personnel refer to the President, vice presidents, and management staff of the standing bodies of the SDE. Any senior management personnel shall not have concurrent occupations in any member enterprise and shall not be the representative to the SDE for any member. All the senior management personnel of the SDE shall be reported to the SDEA for record. Article 26 The President shall be responsible for the daily management of the SDE, aided by other senior managers. The Supervision Council shall determine the detailed responsibilities and the term of office of the President. Vice presidents shall nominated by the president and appointed and removed by SDEA. The president shall be responsible for the responsibilities and employment of other senior management personnel. Chapter VI Special Commissions Article 27 The Discipline Commission shall be responsible for the penalty imposed on the members who violate this Constitution and relevant rules. It shall propose to the Supervision Council to dismiss the members who seriously violate the rules. The working rules of the Discipline Commission shall be formulated by the Supervision Council, be approved by the Membership Conference, and become effective after the ratification by SDEA. Article 28 The Arbitration Commission shall be responsible for the arbitration of transaction-related disputes among members in the SDE. The arbitration principles will be stipulated separately by the Supervision Council, be approved by the Membership Conference, and become effective after the ratification by the SDEA. Article 29 Other Special Commissions shall be decided and established by the Supervision Council and shall be reported to the SDEA for record. Chapter VII Disputes Settlement Article 30 The Chairman of the Supervision Council shall appoint two Directors on Duty from all the council every two weeks or authorize the President to be responsible for the maintenance of daily transaction and the settlement of transaction-related disputes. Article 31 Members can settle any dispute during the transaction procedure by themselves. If the members fail to agree upon a settlement on their own, any of them can resort to the Director on Duty for mediation. Article 32 With regard to the on spot settlement by the Director on Duty, if the two parties can reach agreement or accept the director’s mediation, the agreement and mediation shall be taken down in written form and joint signed by the director and the two parties concerned. The written record shall have binding power to both parties. Article 33 If the two disputing parties can not reach agreement or refuse to accept the mediation of the Directors on Duty, the two parties and the Directors on Duty shall take the dispute down in written form and apply for arbitration according to the arbitration rules of the SDE. Chapter VIII Penalty Article 34 The Directors on Duty may suspend the transaction of, give warning or impose penalty to the members who violate the transaction rules according to relevant transaction rules. The penalty items shall be reported to the SDEA for record on time. Article 35 The relevant organizations of the SDE shall, in accordance with relevant provisions of the SDE, impose penalty to the members who violate this Constitution and other rules of the SDE. The penalty items shall be reported to the SDEA for record on time. Chapter IX Financial Management Article 36 The income of the SDE consists of A. Admission fees paid by new members; B. Annual membership fees paid by members; C. Other legal income. The expenditure of the SDE consists of A. SDE venue rent; B. Salary of SDE staff; C. Other expenditures approved by the Supervision Council. Article 37 The Supervision Council should compile the annual financial budget report in accordance with relevant laws. The report shall, after being examined by certified accountants, be submitted to the Membership Conference for review and adoption and to the SDEA for record. Chapter X Supplementary Provisions Article 38 The transaction rules and other rules of SDE shall be formulated separately by the Supervision Council and shall become effective after the approval is granted by the SDEA. Article 39 “Inside the mainland of China” referred to in this Constitution means inside the boundaries of the mainland of China as established according to the current tariff area, and the Hongkong Special Administrative Region, the Macao Special Administrative Region, and the Taiwan Region are not included. Article 40 The Supervision Council is responsible for explaining this Constitution. Article 41 The amendment to this Constitution shall be adopted at the Membership Conference and shall be reported to the SDEA for examination and approval. Article 42 This Constitution shall become effective after being adopted at the Membership Conference and being reported to the SDEA for examination and approval.
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