Examples of Passive Member in a sentence
A Passive Member has no entitlement to a distribution from the Scheme or the Custodian, unless directed by Court Order.
If any part of the application process is outstanding at this time, the Responsible Entity reserves the right not to accept the applicant as an Active Member of the Scheme (and such person may instead be classified as a Passive Member).
If you do exercise your rights during the Cooling-Off Period, the Responsible Entity will either reclassify you as a Passive Member or as an Unfunded Active Member in accordance with your instructions.
Converting from a Passive Member to an Unfunded Active Member does not cost you anything.
If a Funded Member exercises this right and withdraws from the LMFA, the Responsible Entity may reclassify the Member into either the Unfunded Active Member Class or Passive Member Class.
A Passive Member is encouraged to complete an Application Form to at least become an Unfunded Active Member, as a Passive Member has no entitlement to a distribution from the Scheme unless ordered by the Court.
Where you are a Passive Member, Unfunded Active Member or a Funded Member and wish to withdraw from the Scheme, you may be required to complete an opt out notice at the same time.
Where you are a Passive Member, Unfunded Active Member or a Funded Member and wish to withdraw from the Scheme, you must complete an opt out notice at the same time.
NOTE: As described above if a Full Member only pay their annual membership fee but fail to take an active part in the EWUF program of activities it may be reclassified as Demoted Member and if this status is maintained for a period of 2 years or more it may be reclassified as Passive Member.
It is not only an increased perception of time, but also an alertness to time’s perception that 24 Hour Psycho impels.