Chapter 1: Name 

1. The Association shall be known as: Singapore Pawnbrokers Association
2. The present address of the Association: 24B-26B Lorong 23 Geylang Singapore 388363 

Chapter 2: Objects 

1. To protect the interest of the Association and all its Members.
2. To establish a new image of the pawnbroking trade.
3. To unite all its members.
4. To foster better ties among its Member companies.
5. To maintain, promote better relationship and communication with the Government authorities.
6. To assist the members in resolving their problems.
7. To coordinate in the Members business operation and to fight for the interest of the Members.

Chapter 3: Organization of the Association 

1. The supreme authority of the Association shall be vested in the General Meeting of
   Members. 
   1a.System of our organization Association:PropertyTrustees,Council,President,
   Vice-President,Secretary,Treasurer,Council  Members/Auditor,Members.
2. The Association shall have an Executive Council to take charge of the administration of
   the Association.
3. The Executive Council shall be made up of not less than seven members and not more
   than one-third the total number of members of the Association.
4. The Executive Council shall have one President, two Vice-presidents, one Secretary, one
   Treasurer , one Assistant secretary and one Assistant Treasurer.
5. Upon special circumstances, a member company may serve or act in another official
   position.
6. The Association shall have a Secretariat, which shall report to the Executive Council. It
   shall be comprised of the President, the Secretary and the Treasurer. It shall execute all
   the resolutions and run the affairs of the Association during the recess of the Executive
   Council.
7. When approved by the majority of the members of the Secretariat, administrative
   decisions may be made first, and subsequently reported the Executive Council.
8. Members of the Executive Council shall be represented by the Directors or major partners
   of the member companies concerned. Employees of the member companies may attend
   Executive Council as proxy, but shall have no voting rights, unless with the letter of
   authorization given by the member company concerned.
9. In event of any vacancy arising in the Executive Council as a result of resignation of the
   Executive Members or for any other reasons, it may be taken over by another member
   serving concurrently in another position, or may remain vacant as such. Upon a decision
   being made by the Executive Council, all members of the Association shall be informed in
   writing thereof.
10. If necessary, the Association may invite legal adviser(s) to help it members resolve legal
    problems.
11. The Executive Council may employ a salaried Executive Secretary
12. The Executive Secretary shall absolutely obey the instructions of the Secretariat. All
    expenditures shall be disbursed only after consulting the Treasurer or other Members of
    the Secretariat.
13. The Executive Council shall have full authority to deal with all the assets of the
    Association. However, if the property assets are more than Thirty Thousand Dollars,
    approval by the General Meeting of Members shall be required, except deposit of capital
    funds in the banks or finance companies.

Chapter 3A : Property Trustees

1. The Association shall have not more than 4 Trustees. Their term shall be 4 years. The
   Trustees for each term shall be elected by the General Meeting. Trustees who have
   served their terms are eligible for re-election.
2. The Council of the Association may pass a resolution at any time to authorize the
   Trustees to deal with the movable and immovable properties. Consent and signature from
   at least 3 Trustees are required in dealing with the assets of the Association.
3. The Trustees shall be exempted from risk and expenses from the related property if it is
   not caused by their negligence or dereliction of duty.
4. If there is vacancy in the Trustee post due to incompetence, death, resignation or if
   necessary, a new or extra Trustee be appointed from expediency, the Association may
   elect and appoint new Trustees or extra Trustee. The number of Trustees shall not at any
   one time be more than the number stipulated.
5. The Association may at the General Meeting pass a resolution to dismiss any serving
   Trustee and elect another to replace him.
6. In accordance with the provisions of Clauses (4) and (5) of this chapter, the trustee
   elected shall execute his duties till the next election and he shall also be eligible for
   re-election.
7. If the Association is to be dissolved, it shall have to be passed by the General Meeting.
   The remaining assets after paying off the debts shall be donated to charitable
   organizations or educational bodies approved and recognized by the Government as the
   General Meeting deed fit.

Chapter 4: Membership Eligibility 

1. Membership of our Association is divided into three categories:
   a) Business Firm Membership : Business Firms which are holders of Business Licenses.
   b) Individual Membership : Partners or Shareholders of Business Firms and those working
   in the pawnshop business.
   c) Designation Membership : Persons who are recommended by the Business Firm
   Member or Individual Member and approved by the Council. The Applicant must be a
   Singapore Citizen or Permanent Resident.
2. Individual Members and Designated Member must abide by the rules and Regulations
   made by the Association.

Chapter 5: Application for Membership   

Clauses 1 to 9 are the rules for Business Firm Members of this Association.

1. Any company or firm who holds a pawnbrokers license may apply for membership to the
   Association.
2. The application shall state the License Number, and shall be accompanied by a copy of
   the Business License.
3. A decision shall be made by the Executive Council within three months of receipt of such
   application.
4. The Executive Council may decide on the matters concerned by a simple majority in
   voting.
5. The Secretariat shall notify the company or firm concerned in writing of the result of such
   voting.
6. In the event of the application being rejected, the Executive Council is not obliged to state
   its reason thereof.
7. New members shall officially become members and enjoy all the benefits and rights after
   payment of admission fee, admission fund and the monthly subscription.
8. Any new member who resigns or whose membership is terminated within the first year
   shall not be entitled to a refund of any of the fees paid.
9. Any company or firm who has submitted an application for membership shall be deemed
   to have fully agreed with all the Rules and Regulations of the Association and to be
   prepared to fulfill its obligations as a member.

Chapter 6: Privileges of the Members 

All members of the Association shall be entitled to the following privileges: 

1. They shall have the right of speech and voting at the General Meeting. (However,
   individual and designated members shall not have such rights).
2. They shall have the rights of voting and being elected. (However, Individual and designated
   members shall not have such rights)
3. The right to request the Association to resolve business problems on its behalf.
4. The right to participate in all the activities of the Association.
5. Any member who is in arrears of payment (such as spelt out in the Chapter 8) shall not
   be allowed to attend any of the meetings held by the Association and enjoy any of the
   aforesaid rights and benefits.
6. All individual members and designated members may participate in activities conducted
   by the Association. However, they shall have to abide by the annexed rules and
   regulations.

Chapter 7: Obligations of the Members 

1. To abide by the Rules & Regulations of the Association.
2. To execute all resolutions of the General Meeting of Members and the Executive Council.
   Even if the Member had opposed the proposal, once a resolution in respect thereof is
   passed by the General Meeting, it shall go along with the wishes of the majority.
3. To be responsible for supporting the expenses of this Association by paying the monthly
   subscription on time or expenses payable as approved by the council.
4. Actively participate in all forms of activities organized by the Association.
5. Shall maintain the spirit of unity, and refrain from breaking away or confrontation.
   Cooperate fully with the Executive Council to jointly manage the affairs of the Association.
6. Actively attend meetings and participate in the discussion of the various issues.
7. Submit all the information required by the Executive Council.
8. Members shall have a thorough understanding of the Pawnbrokers Act and the relevant
   rules and regulation.

Chapter 8: Subscription 

1. a) Income includes :
       1) Membership fee
       2) Admission fee
       3) Monthly subscription
       4) Special contribution
   b) Application for admission as Business Firm Members of this Association shall have to
   subscribe to the Association Fund. The amount of this Fund must be able to reflect the
   actual 
       assets of the Association
2. The admission fee is fixed at $1000 and further sum of $2000 is to be paid as admission
   fund with effect from July 1993.
   a) The admission fee is fixed at $2000 and further payment of $5000 is to be paid as
   admission fund with effect from 2001.
3. a) Monthly subscription is fixed at $150 with effect from July 1999 to be paid by 2
   instalments (i.e., every 6 months) January and July.
   b) Should any member fail to pay up the fee and fund within 7 days after the scheduled
   date, the Association shall give notice with a grace period of 1 month to press for
   payment. Membership shall automatically lapse and the member shall also lose his
   membership and all his rights and privileges if payment is not made after the grace
   period. If the member who has breached the rules has paid up all the arrears, the Council
   may on the merits of the case restore his membership in accordance with the procedure
   of Chapter Clause 3 of the Constitution
   
   Any Member who delays or refuse to pay up the fees shall not be allowed to attend any
   meeting held by the Association.
4. In accordance with the needs of the Association, the Executive Council may revise the
   above fees without having to amend the Rules & Regulations. However, any revision of the
   fees shall be first approved by the General Meeting of Members, and written notification
   shall be given to the members concerning the actual date of coming into effect of the fees revision.
5. Any new application received by the Secretariat before the coming into effect of the fees
   revision, shall pay its new member’s fees based on the old rates.

Chapter 9: Resignation of Members 

1. Any member who desires to resigns from the Association shall submit a written
   application thereof. Pending the approval by the Executive Council, it shall continue to
   fulfill its obligations as a member.
2. Any member who resigns from the Association shall not thereafter demand to share the
   assets of the Association. However, monthly subscriptions paid in advance may be
   refunded.
3. Any member, who desires to be re-admitted to the Association after having resigned
   earlier, shall follow the admission procedure for new members.
4. Any company or firm who has ceased its business operation shall automatically lose its
   membership eligibility.

Chapter 10: Termination of Membership 

1. The Association shall have the right to terminate the membership of any member whose
   words and deeds are detrimental to the Association of which has seriously violated the
   Rules & Regulations of the Association.
2. To terminate the membership of a member, three members of the Association shall write
   officially to the Executive Council, stating the grounds thereof.
3. Upon discussion, the Secretariat shall inform the member concerned.
4. Membership of the said member may be terminated if two-third of the members of the
   Executive Council voted in favor of such termination.
5. The Secretariat shall notify the member concerned, in writing, of the results of the voting.
6. The member concerned shall have the right to make a written requisition to convene an
   extra-ordinary general meeting of members to discuss the matter, within one month of the
   receipt of the written notification.
7. The General Meeting shall resolve the matter by a simple majority of votes. Once passed,
   the resolution shall take effect immediately.

Chapter 11: Meetings & Amendment to Rules & Regulations 

1. Meeting of the Association shall include general meeting of members, Executive Council,
   and depending on the needs, an extended meeting of the Executive Council, emergency
   general meeting of members etc.
2. The Annual General Meeting shall be held during the first three months of each year, at
   the venue and time to be decided by the Executive Council.
3. An Extra-ordinary General meeting of Members may convened at the joint requisition of
   ten members of the Association.
4. An Extra-ordinary general Meeting g of members shall be convened at eh written
   requisition of a member whose membership is terminated.
5. The Secretariat shall notify the members of the convening of the General Meeting of
   Members by telephone or telecommunications.
6. Any member may give a written authorization to another member to act as his proxy in
   attending the meetings and voting thereat. However, the Chairman of the meeting shall be
   informed before commencement of the voting.
7. More than half the total number of members present at a meeting shall form the quorum.
8. All resolutions shall be valid only if more than half the total number of members present at
   the meeting passes them.
9. In the even of a tie in in the voting, the Chairman shall have a second vote to decide the
   matter.
10. The President shall preside over all the meetings. In his absence, the Vice-President
    shall chair the meeting. In the event of both the President and Vice-President being
    absent, the members present shall elect one of the members of the Executive Council to
    chair the meeting.
11. In even of a proposal to amend the Rules & Regulations, the draft amendment shall first
    be discussed by the Executive Council, and then mailed to all the members not less than
    14 days before the General Meeting of Members convened for the purpose, for their
    perusal. The matter shall then be decide by the General Meeting of Members.
12. Any amendment to the Rules & Regulations shall be valid only if the General Meeting is
    attended by 60% of the total number of members of the Association, and 75% of those
    present at the said meeting voted in favor of such amendment.
13. All resolutions passed by the Executive Council or the General Meeting of members shall
    be clearly recorded, there and then, in the minutes of the meeting.
14. The result of voting for each resolution shall be clearly recorded and witnessed by two
    members of the Secretariat.
15. If resolution is passed by voting, the voting papers or forms shall be kept for at least three
    years. Any member may request to inspect them.
16. Upon expiration of the three-year period, the voting papers or forms may be destroyed as
    witnessed by three current members of the Secretariat (including the President, Secretary etc.)

Chapter 12: Election 

1. The Executive Council shall be elected once every two years.
2. The Executive Council shall be voted, by ballot, by all the members of the Association.
3. The current members of the Secretariat shall carry out the procedure for election.
4. Members of the Executive Council shall serve a term of two years, with effect from the
   day of assuming until the day of assumption of duty of the next batch of Executive
   members. The outgoing members of the Executive Council shall remain in their respective
   position during the re-election.
5. Members of the Executive Council who are re-elected may continue to serve successive
   terms.
6. The elected members of the Executive Council shall elect among themselves able
   persons to fill the important posts.
7. The Executive Council may change the method of election, provided the members are
   informed 14 days before the date of voting.
8. Re-election shall be held within two months of the expiration of the term of the outgoing
   Executive Council.
9. During the interim period, the current Executive Council shall manage the affairs of the
   Association.
10. There shall be at least ten days between the commencement of voting and the official
    counting of the votes.

Chapter 13: Cessation of Pawnbroking Business 

1. In the event of any member whose business license is terminated, or the license is not
   renewed, the Association shall be informed in writing as to the reason thereof.
2. In the event of any member being stopped from accepting pledges and pending
   redemption, the Association shall have the right to pass the following resolutions or any
   other resolutions deemed to be reasonable by the Executive Council, in accordance with
   the respective circumstances.
1. Temporarily suspend the membership of the said member until such time when it
   is issued with a License, and then reinstate its membership.
2. Preserve the membership of the said member.
3. Terminate its membership. When the said member has obtained a License, it may
   re-apply for membership.
3. In the event of a member company undergoing a major reorganization, whereby more than
   50% of the shares are bought over by new shareholders, even if the old business name is
   retained, the Association shall have the rights to terminate its old membership and
   require the said company to re-apply for membership.
4. The Association shall have the right to decide whether or not new members entrance fee
   and entrance fund shall be levied.
5. Any member whose membership is suspended or preserved shall continue to pay its
   monthly subscription or other special levies. In the event of there being arrears in payment
   thereof, the said member shall be deemed to have automatically left the Association.
6. Members in situation 2(a)(b) above may attend meetings and participate in all the
   activities of the Association. However, it shall not participate in voting, and shall not have
   the rights to elect or be elected.

Chapter 14: Miscellaneous 

1. In the event of there being any short-coming in these Rules & Regulations, the Executive
   Council shall make the necessary amendment and submit same to the general Meeting
   of Members for approval.
2. The amended Rules & Regulations shall come into effect only upon approval by the
   Registrar of Societies.
3. Every member of the Association shall be notified in writing of the new provisions that
   have come into effect. Such new previsions shall be appended to the Rules & Regulation
   handbook.
4. These Rules & Regulations were approved by the General Meeting of Members on 4^th
   June 1993, and came into effect upon approval by the Registrar Societies on 3^rd June
   1998.