Member’s Balance definition
Examples of Member’s Balance in a sentence
This summed amount will be that Class Member’s “Balance.” • Third, each Class Member will receive a share of the Net Settlement Amount in proportion to the sum of that Class Member’s Balance as compared to the sum of the Balance for all Class Members, i.e. where the numerator is the Class Member’s Balance and the denominator is the sum of all Class Members’ Balances.
If the Manager is satisfied that reasonable grounds exist whereby the continued Membership of a Member may contribute to the Scheme being de-registered as a legacy superannuation scheme under the FMCA13, the Manager may give notice to the Member terminating the Member’s Membership whereupon the Member shall be deemed to have given a Withdrawal Request for the whole of the Member’s Balance in accordance with clause 15.2.
Allocate each Settlement Class Member a share of the Distributable Settlement Amount in proportion to the sum of that Settlement Class Member’s Balance as compared to the sum of the Balance for all Settlement Class Members, i.e., where the numerator is the Settlement Class Member’s Balance and the denominator is the sum of all Settlement Class Members’ Balances.
If such a Member fails to make those additional Contributions within 30 days, the Member shall be deemed to have given a Withdrawal Request for all of the Member’s Balance in accordance with clause 15.2. If a Withdrawal Request is given by any Member which would result in that Member having a Member’s Balance of less than the Minimum Member’s Balance, the Manager may deem that Withdrawal Request to be a Withdrawal Request in respect of all of the Member’s Balance.
If a Member dies during Membership of the Plan prior to his Normal Retirement Date, a lump sum equal to the Member’s Balance shall be paid to his Beneficiary.
The Manager may by notice to any Member require that Member to make additional Contributions to bring the Member’s Balance to greater than or equal to the relevant Minimum Member’s Balance.
Third, each Class Member’s share of the Net Settlement Amount in proportion to that Class Member’s Balance as compared to the sum of the Balances of all Class Members will be determined by (i) dividing the Class Member’s Balance by the sum of all Class Members’ Balances and (ii) multiplying the result by the Net Settlement Amount.
Second, in relation to each Member and Ex-Spouse Participant in applying that part of the Fund which the Trustee determines to be appropriate, having regard to the value of each Member’s Balance and each Ex-Spouse Participant’s Pension Credit Benefits and the source of the sums contained within the Member’s Personal Retirement Account.
The Member’s Balance in respect of a Member at any time is the product of the Unit Price multiplied by the number of Units held in the Account as at the immediately preceding Valuation Day.
The holding period of the Acquiring Fund Shares received by each Target Fund Shareholder in the Reorganization will include the period during which the Target Fund shares exchanged therefor were held by such shareholder, provided such Target Fund shares are held as capital assets at the time of the Reorganization.