A reference to a member, in relation to a body corporate that is, or proposes
to become, a futures organisation, is, if the body may operate otherwise than
as a futures organisation and any of the rules, regulations or by-laws made by
the body or contained in its constituent documents provide for:
- (a)
- a
separate class of membership for persons to whom the operation of the body
otherwise than as a futures organisation relates (whether or not such persons
may be members within another class of membership); or
- (b)
- 2 or more such separate classes of membership;
a reference to a person in the person's capacity as a member of the body in a
class of membership other than that separate class or those separate classes,
as the case may be.