Article 1- All terms and words defined in the articles of association of Iranian Institutional Investors Association and the Securities Law shall be used with the same meanings in these regulations.
Article 2 – Applicants of membership in Iranian Institutional Investors Association must submit their membership application to the board of directors. If the applicant, at the discretion of the board of directors, is considered one of the persons subject to provision 6 of the articles of association and meets the conditions set forth in article 42 of the articles of association, it will be accepted as a member of Iranian Institutional Investors Association.
Note 1: The membership application form, the required documents, and the method of sending them are determined by the board of directors of the Association.
Note 2: Process of accepting the membership of the Association’s initial members, the duties of the board of directors are determined by the founding board of Iranian Institutional Investors Association.
Article 3- The admission fee (entry fee) of the applicants for membership and the membership fee of Iranian Institutional Investors Association’s members and schedule of their payments, according to the approvals of Saba for payment limitation, for the initial members shall be approved by the founding board and then by the board of directors.
Article 4- The required documents and measures for resigning from the membership in Iranian Institutional Investors Association shall be determined by the board of directors in compliance with the provisions of the articles of association.
Article 5 – These regulations in 5 articles and 2 notes were approved by Saba on 11/18/2007 and it is possible to change it by the approval of Saba.
Other approvals:
► Iranian Institutional Investors Association’s articles of association and its membership regulations must be notified to the eligible persons through publication on the Saba website.
► Inviting eligible persons to join Iranian Institutional Investors Association (subject to paragraph 3- Article 2 of the Act of active associations’ formation and registration in the Securities Market approved by Saba’s the Board of Directors on 11/03/2007), must be done through publishing in highly circulation newspaper or sending letters. In this invitation, the issue that the provisions of association and membership regulations of Iranian Institutional Investors Association have been published on the Saba website should be informed to the eligible persons.
► The proposal of the founding board of Iranian Institutional Investors Association was offered by a letter with No. 3510/86 dated 09/10/2007 regarding the amount of the admission fee (entry fee); and limitation of the admission fee (entry fee) for membership applicants in this Association is determined 60 million Rials or 5/0 per thousand of capital up to 200 million Rials, whichever is more. In calculating the admission fee (entry fee) for investment funds, the minimum capital of the fund in the articles of association, and for other applicants, their last registered capital will be used.
► Based on provision 5 of the 450th minutes of Securities and Exchange Organization’s board of directors and Notification with No. 19824/122 dated 17/04/2017, the Management of supervision on financial institutions, has increased the annual membership fee in Iranian Institutional Investors Association from 200 million Rials to 400 million Rials. In calculating the membership fee for investment funds, the minimum capital of the fund in the articles of association, and for other applicants, their last registered capital will be used.
► According to provision 14 of the 46th minutes of Securities and Exchange Organization’s board of directors and Notification with No. 114796/121 dated 24/06/2020, the Management of supervision on financial institutions, has increased the annual membership fee in Iranian Institutional Investors Association from 400 million Rials to 800 million Rials. In calculating the membership fee for investment funds, the minimum capital of the fund in the articles of association, and for other applicants, their last registered capital will be used.