RULES OF THE EQUITABLE MEMBERS' ACTION GROUP

As adopted at the annual general meeting held on 18 June 2001 and amended at the annual general meeting held on 5 June 2002

1. Name
   The association is called The Equitable Members' Action Group
   

2. Objects
   The objects of the association are to further the interests of Members and former Members of the Equitable Life Assurance Society ("the Society"), and those having or formerly having had interests in its with-profits policies. This explicitly to exclude the association's support of any litigation against the Society.

3. Membership
   The association may consist of any number of members, being either Members or former Members of the Society or persons having or formerly having had interests in its with-profits policies. All persons recorded by the association as members as at 5 June 2002 shall be deemed for all purposes to be, and to have previously been, members, notwithstanding that the eligibility of any such person to be a member might have been questioned on the grounds that such person was a former Member of the Society or a person formerly having had interests in its with-profits policies.

4. Management
   1. The association is managed by a committee of not more than 15 (fifteen) and not less than 5 (five) members.
   2. The committee must be elected at the annual general meeting in each year (or appointed as stated below) and, subject to termination of office by resignation, removal, or otherwise, the members remain in office until their successors are elected at the annual or a special general meeting following their election.
   3. The committee may by appointment fill any casual vacancy that occurs, and appoint additional members of the committee up to the above limit of 15 (fifteen) members in total.
   4. Retiring members of the committee may be re-elected. Members can only be ratified as new committee members after attending two committee meetings and then subject to a majority vote by the committee.
   5. Each member of the committee shall have duties to attend the majority of committee meetings in London in each rolling 12 (twelve) month period; to keep confidential the proceedings of the committee and the affairs of the association, except as otherwise authorised by the committee or by its chairman; and not to express opposition to decisions of the committee once taken, except in committee or general meetings of the association, or in communications with other members of the committee or with the association's advisers for the time being. If any member of the committee fails to comply with such duties, or if the conduct of any member of the committee, in the opinion of the committee, renders him unfit for membership of the committee, he shall be liable to removal from the committee.
   6. Before any such member of the committee is so removed, the secretary must give him 7 (seven) days' written notice to attend a meeting of the committee, and must inform him of the complaints made against him.
   7. No member of the committee may be so removed unless he has first had an opportunity to appear before the committee and answer complaints made against him and at least two-thirds of the committee then present (other than the member of the committee complained of) vote in favour of his removal.
      
      
5. Subscriptions
   1. The subscription is £20 (twenty pounds). The committee may (prospectively, but not retrospectively) vary the subscription from time to time, and declare periodic subscriptions.
   2. Subscriptions are due at times decided by the committee.
   3. Any member whose current subscription has not been paid, and who neglects to comply with a written request for payment within 7 (seven) days after it has been sent to him, ceases to be a member on the expiration of the 7 (seven) days, unless a reason, satisfactory to the committee, is given for the delay.
      
      
6. Application for membership
   1. All applications for membership must be made in writing and must be signed by the candidate.
   2. Election is in the discretion of the committee.
      
      
7. Resignation
   A member wishing to withdraw from the association must give notice in writing to the secretary.
   
   
8. Expulsion
   1. The committee may expel any member who offends against the rules of the association or whose conduct, in the opinion of the committee, renders him unfit for membership of the association.
   2. Before any such member is expelled, the secretary must give him 7 (seven) days' written notice to attend a meeting of the committee, and must inform him of the complaints made against him.
   3. No member may be expelled unless he has first had an opportunity to appear before the committee and answer complaints made against him and at least two-thirds of the committee then present vote in favour of his expulsion.
      
      
9. Alteration of rules
   The committee may alter the rules, but no alteration takes effect until it has been confirmed at the next annual general meeting or a special general meeting convened for the purpose.
   
   
10. Byelaws
    1. The committee may make byelaws (not inconsistent with these rules) to regulate the conduct and affairs of the association, and shall take reasonable steps to publicise such byelaws to members.
    2. The byelaws are binding on all the members.
       
       
11. General meetings
    A general meeting of the association must be held in every year not later than 30 October, and must:
    1. receive and, if approved, adopt a statement of the association's accounts to the end of the preceding year;
    2. consider and, if approved, sanction any duly made alterations of the rules;
    3. appoint the officers and other members of the committee;
    4. deal with any special matter which the committee desires to bring before the members, and receive suggestions from the members, for consideration by the committee.
    5. Notice convening the general meeting must be sent to the members not less than 21 (twenty-one) days before the meeting and must specify the matters to be dealt with.
       
       
12. Special general meetings
1. A special general meeting may be convened at any time by the committee and must be convened within 21 (twenty-one) days from receipt of a requisition in writing signed by not less than 50 (fifty) members specifying the object of the meeting.
2. A special general meeting may be convened:
   1. to consider and, if approved, sanction any duly made alternation of the rules;
   2. to deal with any special matter which the committee wishes to place before the members;
   3. to remove any member or members of the committee from office and to fill any vacancy or vacancies caused by the removal; or
   4. to deal with any special matter which the members requiring the meeting wish to place before the association.
3. Notice convening a special general meeting must be sent to members not less than 21 (twenty-one) days before the meeting and must specify the matters to be dealt with.
   
   
13. Chairman's casting vote
    At committee meetings and at general meetings a chairman must be elected to preside, and he shall have a casting or additional vote in the event of an equality of votes.
    
    
14. Quorums
    The following numbers are required to form a quorum:
    1. at committee meetings, 4 (four); and
    2. at general meetings, 15 (fifteen)