This legislation has been repealed.
(1) A Member may apply in writing to the Trust before 1 October in any year for a transfer from one class of membership to another.
(2) The application must be accompanied by the annual subscription fee payable in respect of the membership to which the Member seeks to be transferred together with any entrance fee payable in respect of that class of membership.
(3) The Trust may credit against the entrance fee paid in respect of the class of membership to which the Member seeks to be transferred the amount of the entrance fee paid in respect of the class of membership from which the Member is seeking a transfer.
(4) The Trust may grant or refuse the application.