Initial Subscription Amount Calculation

The amount to be deposited along with the application for members is to be calculated as follows:

Ordinary Member

ItemValueExample
(LEADERS Member / BARCFV Staff)
Example
(Non-Member & Non-Staff)
Admission Fee505050
Value of 1 Share100100100
Number of Shares subscribedn11
Total share value100 x n100 x 1 = 100100 x 1 = 100
LEADERS Subscription ValueY0950 for Group A Staff
Monthly DepositZ500600
Total= 50 + (100 x n) + Y + Z6501700

Nominal Member

Admission Fee: 500
Monthly Deposit: 500

Total = 500 + 500 = 1000

Application for Membership and its Disposal

  • The application for membership of the Society shall be submitted by the applicant to the Chief Executive of the Society in the prescribed form. An applicant shall also subscribe at least One (1) fully paid shares at the time of application.
  • The application for membership of the Society found complete in all respects shall be disposed of within a period of four months from the date of receipt of the application by the Society and the same shall be communicated to the applicant within fifteen days of the decision.

Nominal Member

The Society at its discretion may admit a person, who is eligible to become a member of LEADERS, but is not a member of LEADERS, on payment of a non-refundable fee of Rs.500/- (Rupees Five Hundred Only) as a nominal member provided that such nominal member shall not be entitled to subscribe to the shares of the society or have any interest in the management thereof including right to vote, be elected as a director of the board or participate in the general body meeting. Nominal member shall also subscribe to monthly interest-bearing deposit (refundable at the time of withdrawal of membership) of Rs.500/- (Rupees Five Hundred Only) or above (in multiples of Rs.100/-).