1. TITLE
The name of the Club shall be "THE ISETTA OWNERS CLUB OF GREAT BRITAIN LIMITED" hereafter referred to as the "CLUB", registered at Companies House number 2527362.

2. AIMS AND OBJECTIVES
The objectives of the Club shall be:-

a) To promote and encourage the preservation and use of all models of Isetta including the BMW 600 and BMW 700.
b) To provide members with the facility of regular meetings at which films, slides and lectures of interest and social activities will be arranged by the Director.and Committee as far as is practicable at venues to be determined.
c) To promote such events as is thought necessary in furtherance of item a), and such other events as the Directors and Committee and membership may propose from time to time.
d) To maintain funds for the purpose of the purchase and sales of spares and regalia and the support of the publication of a newsletter.

Full membership is open to individual persons, however, a members' wife or husband and other members of the immediate family up to the age of 18 years, will also be entitled to enjoy the facilities of the Club.

At an AGM and or general meeting members present are entitled to one vote by poll or show of hands, either in person or by proxy. The proxy shall be in the form designated in the Company Memorandum and Articles of Association.

Membership is conditional upon payment of the enrolment fee and the annual subscription. A member shall not be entitled to vote at any meeting unless his/her subscription is fully paid up.

4. LAPSED MEMBERSHIP
If a member fails to pay a subscription for at least twelve months from the expiry date of his/her subscription, his/her membership of the Club will be terminated. Re-application to join will require the payment of the enrolment and annual fees in full. On expiry of club membership, a member accepts that his/her liability as a guarantor in the sum of £1 will continue for a period of twelve months from the membership expiry date.

5. DIRECTORS
The executive officers of the Club will be eligible for election as Directors and shall be elected in accordance with the Memorandum and Articles of Association. All the Directors will retire at the first Annual General Meeting, but will be eligible for re-elections.

6. MOTIONS
All motions for consideration at the AGM should be sent to the Company Secretary at the last Committee meeting prior to the AGM. Late motions will be handled under any other business, and will be included or rejected at the discretion of the Chair.

7. ELECTIONS
Only fully paid-up Club members shall be eligible for election.

8. DISSOLUTION
A three quarters majority shall be required to propose dissolution of the Club. The Club may not be dissolved nor funds divided, except at a General Meeting held three months after notice of such meeting has been given to the membership. On dissolution funds will be distributed as laid down in Company Memorandum and Articles of Association.

9. OFFICIALS
The management of the Club shall be vested in the Directors who will act in accordance with the Memorandum and Articles of Association. No member of the Club will be eligible for election as a Director of the Company unless he/she has been elected as an official of the Club. All Directors shall be appointed from members of the Committee who have been in post for a least 12 months and who during that time have attended a minimum of 2 Committee meetings.

10. COMMITTEE
The Committee will be elected annually at the Annual General Meeting. They will advise the Directors in the conduct of the Club affairs but will have no voting rights at Directors meetings.

Sub-committees and working parties shall be formed as required. Sub-committees will be under the chairmanship of a Director. no resolutions of sub-committees will be binding on the Club unless confirmed by the Directors in writing. Should an official not be re-elected to his/her post at an AGM he/she will normally work in conjunction with his/her successor for a period of up to one month to facilitate a smooth change-over.

11. SUBSCRIPTIONS
Subscriptions shall be determined by the Directors annually. Subscriptions will fall due every twelve calendar months on the 1st  January.

12. FUNDS
All funds are payable to the Company, and shall be administered by the Treasurer. Accounts shall be subject to audit and submitted to Companies House as required by the Companies Act. Funds may be invested from time to time at the discretion of the Directors. Funds will only be used for promoting the objectives as at rule 2. Any member shall have the right to inspect the accounts upon giving one months notice in writing to the Company Secretary.

13. BANK LOANS
Should the Club require a Bank loan for any purpose consistent with the objectives as at rule 2, the Club authorized the Treasurer to negotiate such a loan with the Bank.

14. QUORUM
Two persons entitled to vote upon the business to be transacted, each being a Director or a proxy for a Director or a duly authorized representative of a corporation, shall be a quorum. Amendments to the number of Directors that shall constitute a quorum may only be made at AGM or EGM of the Company.

15. DISCIPLINE
The Directors shall have the power to withdraw the membership rights of any member for any conduct on the part of the member or members of his family which is detrimental to the objects of the Club. No disciplinary business shall be transacted at any meeting unless a quorum is present. The member shall have the right to be present. In particular, withdrawal of membership may be invoked for such occurrences as the use of the Club for profit in the purchase and re-sale of complete machines and the purchase of spare parts from the Club stock for either re-sale at cost or for profit. Spares purchased by a member which are not for his/her sole use or any action of a member deemed by the Directors not to be in line with the aims of the Club.

16. CONSTITUTION
Copies of Club rules shall be available to all members. Rules or matters involved with the running of the Club will be administered as laid down in Memorandum and Articles of Association of the Company. Copies of changes to the Club Rules will be sent to all Members.

17. RECOVERY OF DEBTS
The Directors have the power to take such action as they deem necessary to recover debts due to the Club, including suspension or withdrawal of membership.

This document supersedes the previous Club rules last issued 11Augst 2003, and this issue will be numbered 1.

April 20th 2004