AUSTRALIAN AIR PILOTS MUTUAL BENEFIT FUND
Rules - Effective 1 May 2017
Table of Contents
FAILURE TO MEET CASA MEDICAL STANDARDS
Because of the suddenness with which a Pilot Class 1 Medical Certificate can be lost, with its serious consequences to family financial security, adequate protection against this eventuality has always been considered of the utmost importance. No less today than at any previous time.
Following difficulties experienced with the securing of satisfactory rates of coverage through outside commercial interests, the Australian Federation of Air Pilots (AFAP) Convention of 1960 had the foresight to establish a fund to provide benefits for members of AFAP who fail to maintain the medical standards necessary to exercise the privileges of their pilot’s licence. Thus the Australian Air Pilots Mutual Benefit Fund (Fund) came into existence controlled by nine Trustees who were members of the AFAP.
As you would expect, Fund membership is confined to full members of the AFAP, who earn their livelihoods in the capacity of Air Pilots.
Membership coverage may be retained up to age sixty-five if so desired.
Relevant points for consideration are:
- The Trustee is of the view that Members should at all times contribute for the maximum Standard Capital Benefit available to them, making them eligible to apply for the Premium Capital Benefit.
- The Fund must balance benefit against risk. Therefore to optimise Benefits it is essential that Members join the Fund as early as possible during their career. To this end maximum Standard Capital Benefits and minimum contribution rates apply to those who join early and seek maximum cover.
- From time to time the Trustee may increase the maximum Standard Capital Benefit and the value of the Premium Capital Benefit available for contribution by Members, depending on Fund viability, demand and the effects of inflation. The scale of contributions and Benefits are reviewed annually.
- A Member contributing for the maximum Standard Capital Benefit available in a particular age bracket may continue to contribute for the maximum Standard Capital Benefit available in any age bracket thereafter. However, a Member not contributing for the maximum available Standard Capital Benefit in a particular age bracket may continue to contribute for only a proportional amount in any age bracket thereafter.
- Application to contribute for an increased Standard Capital Benefit may be made at any time up to age forty. From ages forty to forty-nine inclusive, such application will be accepted on a once only basis up to the maximum Standard Capital Benefit available for the Member’s age bracket, subject to the member’s age at time of joining.
- A Member may apply for the Premium Capital Benefit at renewal, before the age of fifty, provided the Member contributes for the maximum Standard Capital Benefit available for the Member’s age bracket, subject to the member’s age at time of joining.
- Invitation to contribute for proportionally higher capital benefits may be extended by the Trustee irrespective of age up to forty-nine, if annual loss of licence allowance is increased under award conditions.
- Contributions are due and payable on 1st May each year for the ensuing twelve month period.
- Application for membership of the Fund should be made to:
AUSTRALIAN AIR PILOTS MUTUAL BENEFIT FUND
132-136 Albert Road
SOUTH MELBOURNE VIC 3205
NAME: The name of the Fund shall be the Australian Air Pilots Mutual Benefit Fund.
OBJECTS: The object of the Mutual Benefit Fund is to provide financial assistance to any of its Members whose earning capacity as a Pilot has ceased due to a temporary or permanent suspension or cancellation of their Class 1 Medical Certificate. Overseas equivalent Medical Certificates may be accepted by the Trustee; however the suspension or cancellation of such Certificates shall need to be tested against Australian Class 1 medical standards.
Permanency (as defined in these Rules), is not a term or position used by CASA when assessing medical certification. Instead, the Fund must arrive at an assessment of Permanency using the Fund Rules and the guidance of relevant medical professionals of the Fund’s choosing and the medical certification requirements of the Regulations.
The Fund shall comprise contributions made by its Members for the mutual benefit of all Members and their dependents and shall be non-profit making. Its membership shall be voluntary and open to pilots who are desirous of becoming Members, in accordance with these Rules.
All assets and accumulated funds of the Fund shall belong to the Members and shall be held and dealt with as provided in these Rules.
APPLICATION OF THE RULES:
The Trustee shall, in examining a Member's claim for Benefits, apply the Rules in effect as at the time of the relevant Date of Disability.
AFAP: Means Australian Federation of Air Pilots.
BENEFITS: Means a payment to a member made in accordance with Rules 7 and 8, but does not include a refund of contributions pursuant to Rule 5(b)(iii).
CALCULATED ANNUAL SALARY
Means the Calculated Annual Salary for determining Disability Payment amounts in accordance with Rule 7 (k) and (l).
CAPITAL BENEFIT BALANCE:
Means the Standard Capital Benefit for which the Member had contributed for the Fund Year during which the disability commenced, less the total of the Disability Benefits already paid (if any), plus the Premium Capital Benefit (if applicable). A Member may become entitled to the Capital Benefit Balance in certain circumstances when, after the prescribed period, it has been established that the suspension or cancellation of the Member’s Class 1 Medical Certificate meets the definition of Permanently Lost.
CASA: Means the Civil Aviation Safety Authority of Australia or such other body appointed by legislation to regulate civil aviation in Australia.
Means a pilot who is participating in the Fund in accordance with its Rules.
DATE OF COMMENCEMENT OF DISABILITY BENEFITS:
Means the date upon which the Member is entitled to commence receiving disability benefits as defined in Rule 7.
DATE OF DISABILITY:
Is the date of onset or occurrence of a condition giving rise to the inability to exercise the privileges of Class 1 Medical Certificate and that is:
(i) Stated by the member;
(ii) Supported by medical practitioners and or specialists; and
(iii) Accepted by the Trustee as the date the disability commenced.
Means where the entitlement is due to death, a sum as the Trustee may decide from time to time but in any event such sum shall NOT exceed $200,000 and will be paid in addition to the Standard Capital Benefit and the Premium Capital Benefit, if applicable.
DENIAL OF LIABILITY (DENIAL):
Means a total denial of any cover for the medical condition(s) imposed at the time of first joining or applying for an increase in cover. No Benefits whatsoever apply to a Denial of Liability.
Means the monthly amount to which a Member may become entitled in accordance with these Rules subsequent to the invalidation, suspension or cancellation of their Class 1 Medical Certificate.
EXCLUSION OF LIABILITY (EXCLUSION):
Also referred to as a MEDICAL EXCLUSION
Means a reduced benefit amount for an identified condition and calculated as a percentage of Benefits in accordance with Rule 7.
FUND: Means the fund established by the AFAP and its members known as the Australian Air Pilots Mutual Benefit Fund.
FUND YEAR: Means the twelve month period from 1st May to 30th April next succeeding.
GROSS ANNUAL SALARY:
Gross Annual Salary means the Member’s base salary derived from piloting activities plus any special duties or supervisory allowances the Member would normally receive. It does not include travel, overtime, location or any allowances of an intermittent or occasional nature. Does not include income derived from other sources
INCOME: Means Gross Annual Salary.
MEMBER: Means a Contributor.
Means written communication whether by ordinary post, email, electronic messaging, via members secure access to the Fund website, or other electronic means of communicating in writing to and from members.
PERMANENT(LY) LOSS (LOST) - Permanent Failure of Class 1 Standards:
All references in these Rules that deal with establishing the Permanent nature of a condition giving rise to the payment of a Capital Benefit Balance, must satisfy this definition.
The determination of the Permanent failure to meet Class 1 Medical standards, must completely satisfy all the following conditions:
1. The refusal by CASA to grant a Class 1 Medical Certificate under Part 67 of the Civil Aviation Safety Regulations 1998 (Clth) and as amended.
2. The Trustee must have made consideration of all medical and other such evidence as required by and as described in these Rules
3. The Trustee may at its sole and absolute discretion, conclude that the Member is unlikely ever to be able to regain a Class 1 Medical Certificate
PRE-EXISTING MEDICAL CONDITION:
Means an ailment, illness or condition which, in the opinion of a qualified medical practitioner acceptable to the Trustee, the signs or symptoms of that ailment, illness or condition existed at any time in the period prior to the day on which:
1. the person became a Member; or
2. the Member begins contributing for an increased Standard Capital Benefit; or
3. the Member begins contributing for the Premium Capital Benefit, (as the case may be).
PREMIUM CAPITAL BENEFIT:
Means the additional benefit for which a Member may apply and contribute, and is only available as a whole amount. Only Members who contribute for the maximum Standard Capital Benefit available under the Rules are eligible to contribute for the Premium Capital Benefit. The Premium Capital Benefit is not considered in calculating the rate of Disability Benefits in accordance with Rule 7 or refund of contribution. It is payable on Permanent Loss of the Australian Class 1 Medical Certificate only.
Means cover which is granted at the time of processing an application for Membership, and includes a denial of liability for any declared medical conditions. Provisional Cover means the pilot will not be entitled to membership rights, other than coverage for Benefits, until the Board has accepted their membership in accordance with Rule 4 (a).
RESIDENT IN AUSTRALIA:
A person who is classified as a resident under Australian taxation legislation, and/or complies with Australian immigration laws to be eligible for employment as a pilot in Australia.
STANDARD CAPITAL BENEFIT:
Means the nominated capital amount from the standard scale for which a Contributing Member has contributed for a particular Fund Year. This benefit forms the basis for the calculation of entitlements for temporary and/or Permanent Loss of the Australian Class 1 Medical Certificate.
TOTAL NET INCOME OF THE FUND:
Shall be defined as the sum of the Members’ contributions and all other income of a revenue nature, less all expenses, excluding capital expenditure and benefits paid under Rules 7, 8 & 9 in relation to claims notified to the Trustee.
TRUSTEE: Means the person or persons holding office under Rule 14.
1. ninety days after the Date of Disability which disability resulted in the suspension and/or cancellation of the Member’s Class 1 Medical Certificate; or
2. the Date of Disability, where the Member has suffered a recurrence of, or complications directly caused by, the condition that gave rise to a suspension and/or cancellation of the Member's Class 1 Medical Certificate within the 12 months prior to the Date of Disability, except where the Member fails to notify the Trustee within 90 days.
(a) Membership of, and the right to receive benefits paid out of the assets of, the Fund is subject to the following requirements:
(i) applicants and Members must be members of the Australian Federation of Air Pilots
(ii) an applicant must:
(a) hold a commercial pilot’s licence or higher;
(b) hold an Australian Class 1 Medical Certificate; and
(c) be aged less than fifty years
(iii) applicants and Members must derive their principal source of income from piloting activities
(iv) Except for those Members who were resident outside of Australia as at 9 October 2010, all applicants and Members must be either:
(a) Australian citizens. or
(b) Resident in Australia; or
(c) meet the conditions of Rule 2(a)(v) below.
(v) Members who are not Australian citizens or Resident in Australia may, at the Trustee's sole discretion, continue membership whilst being employed overseas subject to complying with all membership requirements, including the following:
(a) being a current Member for a continuous period of greater than two years;
(b) making an application in writing to the Trustee for continuation of membership overseas for a period of up to three years (which may be extended by further application in writing to the Trustee); and
(c) demonstrating an intent and evidence of an eventual return to Australia.
(b) Members may operate on an overseas medical certificate, however the basis for all benefit claims shall be the failure of the Australian Class 1 Medical Certificate.
(c) Applicants, whether new or re-joining, shall be limited to the benefits and contribution rates for their age group as set out in the contribution scale subject to the conditions of Rule 4, except former members who were terminated in accordance with Rule 12(b)(v).
(d) Reinstatement – Notwithstanding Rule 2(c) above, where a former Member applies to the Fund in circumstances where they:
(i) had previously been a member of the Fund for not less than 5 years continuously; and
(ii) had been absent from Fund membership for no more than 6 years preceding the date of their application,
the Trustee may reinstate the Member. The Member will be entitled to reinstatement at the contribution rates and benefits as set out in the current contribution scale for the joining age of their most recent membership of the Fund. The Trustee may apply this exception to a Member once only.
(e) A pilot cannot become reinstated as a Member if they were previously a Member and:
(i) were paid any benefits to which they were entitled due to a loss of their Class 1 Medical Certificate; or
(ii) were paid any refund of contributions in accordance with the Rules
unless they have repaid all monies received in this manner to the Fund.
(f) Failure to comply with all eligibility requirements in this Rule 2 will result in automatic termination of a Member's membership.
(a) Application for membership of and participation in the Fund shall be in writing on the application form prescribed by the Trustee.
(b) Members whose Standard Capital Benefit is less than the maximum available to their category of membership and age bracket, may apply to the Trustee to increase their Standard Capital Benefit at the commencement of any Fund Year, prior to age forty. Members whose ages range from forty to forty-nine years inclusive may also be considered eligible to contribute for an increased Standard Capital Benefit, at the sole discretion of the Trustee and on such terms and conditions as they might reasonably impose. Except under exceptional circumstances, such eligibility shall be available once only.
(c) Any increase in Standard Capital Benefit granted as a result of an application in accordance with Rule 3(b) shall, for the purposes of contribution rate and benefits, be considered as a new application.
(d) Notwithstanding Rule 3(b), Members already referred to in this sub-section, being employed by a company which provides reimbursement for any part of the required annual contribution, may be invited to contribute for an increased Standard Capital Benefit, if his/her employer increases the amount of such reimbursement.
(e) Members whose Standard Capital Benefit is the maximum Standard Capital Benefit, may apply to the Trustee for the Premium Capital Benefit at the commencement of any Fund Year, prior to age fifty. An application for the Premium Capital Benefit, for the purposes of contribution rates and benefits, will be considered a new application.
(f) The minimum Standard Capital Benefit shall be $100,000.
a) All applicants for Membership or increased benefits shall be considered by the Trustee at its regular Monthly Meeting or any Special Meeting following the lodgement of such application and such application shall be accepted at the discretion of the Trustee on such terms and conditions as they deem appropriate.
b) Initial applicants for membership shall be given provisional cover for Benefits, with a denial of liability on any listed medical conditions. Provisional cover will be effective from the date of processing at the Fund’s offices until such time that the application for membership is considered by the Trustee in accordance with Rule 4(a).
c) Increased benefits shall become effective on the date on which the relevant application is accepted by the Trustee.
d) Acceptance of an application may be subject to a denial of liability applied under the provisions of Rule 6.
(a) The Trustee shall at periods not in excess of twenty-four months, review the performance of the Fund in providing contracted member benefit, and adjust the rate structure accordingly.
(b) (i) Contributions to the Fund shall be calculated at the rate of not less than $2.00 per annum for every $1000 of the capital benefit in respect of which the Member desires to participate, or at such other rate as the Trustee may decide from time to time, but in any event at a rate not in excess of $25.00 per $1000 to age forty-nine, nor in excess of $35.00 per $1000 from age fifty to age fifty-nine inclusive, nor in excess of $70.00 per $1000 above age fifty-nine. These rates are inclusive of GST.
(ii) Members who contribute to the maximum Standard Capital Benefit available for their age bracket, subject to their age at time of joining, may apply for the additional Premium Capital Benefit, available as a whole amount only, at a value and a rate as determined annually by the Trustee and published in the annual contribution scale, subject to Rule 3(e).
The additional Premium Capital Benefit will not be included in the calculation of the Member's entitlement to monthly payments of the Disability Benefit as set out in Rule 7(d) or in the calculation of any refund of contribution in accordance with Rule 5(b)(iii).
(iii) The Trustee in its sole and absolute discretion may, upon application from a former member, considering the viability of the Fund at the time and in the future, authorise for payment, a refund of contributions as at the date membership ceases, equal to the total amount paid by way of contributions to the Fund by or on behalf of the former Member, from the date of commencement of membership, where that former Member had contributed to the Fund for a period either:
(a) continuously for in excess of twenty years,
(b) for a total in excess of twenty years aggregate where any break in continuity was not due to:
(i) expulsion or termination from the Fund, or
(ii) expulsion from the AFAP, or
(iii) rejection of an AAPMBF re-join application,
who, at the time of membership cessation, is no longer employed as a pilot nor derives their principal income from piloting activities; or
(c) for a total in excess of twenty-five years aggregate in the case of a re-joining Member in accordance with Rule 2(e).
Disability Benefits paid in respect of temporary Class 1 Medical suspension or cancellation shall be offset against such refund of contribution. Contributions made for the Premium Capital Benefit will not be included in the calculation of the refund.
Refunds will be capped at $60,000.
Applications for such refunds must be made within three hundred and sixty five (365) days of the former member qualifying in the terms of this Rule.
(c) Members acknowledge that their contributions will be used by the Trustee for the benefit of all Members in accordance with these Rules.
(d) The maximum capital benefit for which contribution shall be received from a Member shall be determined by the Trustee and in any case may not be in excess of $1,000,000.
(e) An applicant, who makes their application following the commencement of the Fund Year shall be required to make a pro rata contribution at the applicable rate for the remainder of the Fund Year, to the nearest whole calendar month.
(f) (i) Annual contributions to the Fund shall be due and payable on the first day of May in each year. Members failing to pay their annual contributions by May 31st immediately following the due date shall be deemed to have allowed their membership to have lapsed and shall not be entitled to any benefit arising from any occurrence subsequent to the said first day of May. Members so excluded shall not be entitled to any benefits arising from any occurrence prior to their re-admittance. The Trustee will make all reasonable efforts to notify in writing any Member whose policy has ceased to have effect in accordance with this Rule.
(ii) Where in the opinion of the Trustee, a good and just reason has been given for late payment, annual contributions may be accepted in the same Fund Year up to June 30th without application of the provisions of Rule 5(f)(i).
(iii) Where a Member ceases to retain an Australian Class 1 Medical Certificate, or approved equivalent, and the Trustee, in consultation with the Fund medical advisers, have established that such failure is unlikely to be reversed in the foreseeable future, such Member will be required to make an annual contribution equal to 25% of that which would be required for his Standard Capital Benefit and Premium Capital Benefit (if applicable) under normal circumstances.
(iv) The Trustee shall forward a statement of account to all Members of the Fund, advising them of the amount of contribution required for the next succeeding year commencing May 1st, together with a notification which sets out the relevant conditions contained in these Rules.
PRE-EXISTING MEDICAL CONDITION
(a) The Trustee may impose an Exclusion or Denial of Liability on all or a part of a Member’s Standard Capital Benefit and Premium Capital Benefit (if applicable) for any Pre-Existing Condition, subject to the following:
(i) Any Exclusion or Denial of Liability imposed by the Trustee in accordance with this Rule, must normally be imposed within 60 days of the effective date of the application or such time as required by the Trustee to enable the Trustee to obtain all relevant information and consult with the Fund’s medical advisers.
(ii) Notwithstanding Rule 6(a)(i), where a Member provides information later, having made a genuine error of disclosure, which would normally give rise to an Exclusion or Denial of Liability, the Trustee may impose such an Exclusion or Denial of Liability retrospectively.
(b) The Trustee shall forward all relevant information to the Fund’s medical advisers or appropriate medical specialists of the Trustee’s choosing for confirmation of the medical condition, at the earliest practical time.
(c) The Member or applicant for membership shall provide any relevant information to the Trustee and the Fund’s medical advisers and, when requested, authorise the Trustee and the Fund’s medical advisers to consult with any relevant physician or organisation.
(d) If, as a result of any disclosure by the applicant or member, advice from the applicant’s or member’s personal physician or specialist is required by the Fund’s medical advisers, the cost associated therewith shall be borne by the Fund.
(e) Where an Exclusion is attached to a Member’s Standard Capital Benefit and Premium Capital Benefit (if applicable) the Members maximum level of Standard and Premium Capital Benefits are reduced in accordance with Rules 7(s)(i) and 7(s)(ii). The Trustee may not make payments in excess of these amounts where there is a claim directly or arising from an Excluded Condition.
(f) Upon requesting an increase in the Standard Capital Benefit and/or application for the Premium Capital Benefit a Denial of Liability or Exclusion for Pre-Existing Medical Conditions may be applied on the increase in the Standard Capital Benefit and/or the Premium Capital Benefit.
THIRD PARTY CLAIM LIABILITY
(g) The Fund shall not be liable to make payment of Benefits to a Member where the Member’s Class 1 Medical Certificate has been suspended or Permanently Lost for any disability in respect of which, in the Trustee's reasonable opinion, the Member either is currently or would be entitled to receive any periodical or other payments (including, but not limited to workers' compensation) under state or federal legislation, unless the disability has been specifically accepted by the Trustee.
SPECIFIED EXCLUSIONS- GENERAL
(h) The Fund may not make any Benefit or Death Benefit payment nor may the Trustee approve such a payment to any party that is not a Member of the Fund (or a nominated Beneficiary).
(i) Notwithstanding any other provision in these Rules, the Fund shall not be liable and the Trustee shall not authorise to make payments by way of Benefits to a Member where the Member’s Class 1 Medical Certificate has been suspended or invalidated either temporarily or permanently, as a direct result of or arising from any of the following:
(i) War, whether declared or not, but not because of a member being killed or injured during legitimate non-military operations outside of recognised war zones;
(ii) Intentional self-injury, suicide or attempted suicide, assault where provoked by the member, fighting (except in bona fide self-defence);
(iii) alcohol dependence and / or conditions or injuries arising directly or indirectly from the abuse of alcohol or drugs;
(iv) incurred as a result self-intoxication, or the effect of drug use;
(v) pregnancy and related conditions for the full duration of that pregnancy, including a period of 90 days from the conclusion of the pregnancy. Conditions that persist beyond 90 days from the conclusion of the pregnancy will be assessed for Benefits in accordance with the Rules. Such Benefits are not back dated. Cover for conditions not related to pregnancy including the Members Death Benefit, continues without restriction;
(vi) incurred because of deliberate exposure by the Member to exceptional danger, as determined by the Trustee (except to save human life)
(vii) Incurred because of the commission of any criminal act by the Member
(viii) Elective cosmetic Surgery where the surgery is not necessitated by an underlying medical condition or trauma event, whether pre-existing or not.
(ix) Member's conduct, where the members conduct has involved the following:
(a) Committing an offence or failure to comply with directions given by CASA under Part 67 of the Civil Aviation Safety Regulations 1988 (Cth) (or amended).
(b) A condition, which directly or indirectly, is as a result of employment or performance issues documented by the Member’s employer, in carrying out their occupation. This may include dismissal following formal disciplinary procedures which subsequently leads to any condition that precludes the Member holding a valid Class 1 Medical Certificate or overseas equivalent.
(c) Injuries or conditions that are reasonably related to or caused by the Member’s misconduct, dishonesty or engaging in criminal activities.
CONDITIONS WITHOUT OBJECTIVE MEDICAL EVIDENCE (OTHER THAN MENTAL HEALTH)
(j) The Fund shall not be liable and the Trustee is not authorised to make payments of the Capital Benefit Balance for any condition that does not present with symptoms than can be verified by objective medical testing and / or for conditions that rely substantially on ‘self-reported’ symptoms that cannot be independently medically verified.
MENTAL HEALTH CLAIMS
(k) The Trustee is only authorised to pay the Capital Benefit Balance under this clause for the following conditions:
(i) Schizophrenia Disorder; or
(ii) Bipolar Disorder
(l) The Trustee is only authorised to make Disability Benefit payments under this clause for the following conditions:
(i) Schizophrenia Disorder;
(ii) Bipolar Disorder;
(iii) Major depressive disorder; or
(m) The Fund will not be liable for and the Trustee is not authorized to provide Benefits in any form for any other mental or behavioural disorder not previously specified.
(n) The Fund will not be liable for and the Trustee is not authorized to provide Benefits in any form for Mental Health claims arising from workplace issues, where the Member has a demonstrated standards, performance, or inappropriate behavioural issue, where such is implicated in leading to the loss of a Class 1 Medical Certificate. Such claims for Mental Health reasons are excluded from Benefits.
(o) The Fund will only recognize and the Trustee will only accept an objective diagnosis of any condition specified under Rule 6(k) and Rule 6(l), that is made by Doctor of Psychiatry.
(p) Any member making Notification to the Trustee and or seeking Benefits of any description under Rule 6(k) and Rule 6(l), will submit to independent assessment(s) by a Doctor(s) of Psychiatry (as specified by the Trustee). This requirement is in addition to that established by Rule 6(o).
(q) The Trustee may not under any circumstances authorise Benefit payments of any description under Rule 6(k) and Rule 6(l), unless the Member has submitted to an assessment or assessments, by the Trustee’s specified Doctor(s) of Psychiatry, and the assessment confirms objective diagnosis of the Member's disorder conclusively and to the satisfaction of the Fund Medical Advisor/s and the Trustee.
(r) A Member in receipt of Benefits for the conditions specified in Rule 6(k) or Rule 6(l), must provide to the Fund a comprehensive treatment plan provided by the Member's treating physician. The Trustee is not authorised to make any Benefit payments if this condition is not met.
RATES OF DISABILITY BENEFIT PAYMENTS
(i) Disability Benefit payments shall be made at the following rates but shall not be more than one twelfth of a Member’s Calculated Annual Salary at the Date of Disability
(j) Percentage amounts relate only to the Standard Capital Benefit and will be paid for a maximum of 24 months.
% of Standard Captial Benefit
$0 - $99,999
$100,000 – $149,999
$150,000 – Or Greater
CALCULATED ANNUAL SALARY FOR DISABILITY BENEFITS (INCLUDING FOR UNEMPLOYED MEMBERS)
(k) Calculated Annual Salary will be determined by the greater amount of current Gross Annual Salary from piloting activities or the average Gross Annual Salary from piloting activities for the last three years of employment.
(l) The Fund only makes Disability Payments in accordance with the Fund Rules and in the event of the loss of a Member’s Class 1 Medical Certificate. During a period of unemployment, the maximum rate of payment under this clause shall be established by the average Gross Annual Salary of the previous three years of employment.
(m) Evidence of income will be required at the time of claim.
COMMENCEMENT DATE OF DISABILITY AND BENEFITS
(n) Payment of Disability Benefits shall normally commence at the later of:
(i) After the Waiting Period and;
(ii) the Member having exhausted all their personal / sick leave.
(o) Any Member making application for Benefits from the Fund must, if required by the Trustee, submit to independent medical assessment(s) at the expense of the Fund and of the Funds choosing, for ascertaining the nature and extent of the notified disability.
(p) A Member claiming or receiving Disability Benefits in accordance with this Rule must, during such time, when so requested, provide all relevant information to the Trustee and the Fund’s medical advisers
(q) A Member must, prior to receiving Disability Benefit payments, authorise the Trustee and the Fund’s medical advisers to:
(i) consult with any relevant physician, surgeon or specialist;
(ii) access a Member’s medical records relevant to the Member’s medical condition whether prior to the date of disability or not; and
(iii) access Medicare (or equivalent) records for the purposes of accessing medical history records.
CESSATION AND LIMITATION OF DISABILITY BENEFITS
(r) Benefits shall continue until cessation of the disability, and re-validation or reinstatement of the Member’s Class 1 Medical Certificate, or the occurrence of any of the following:
(i) the Member has failed to or refuses to comply with the requirements of this Rule 7;
(ii) the Member’s death or the Member’s sixty-fifth birthday; or
(iii) at the completion of 24 Disability Benefit payments.
(s) In the case where a Class 1 Medical Certificate has been suspended or invalidated due to a disability for which an Exclusion has been applied, and where the Member has participated in the Fund for a continuous period of:
(i) Less than five years, 12 monthly payments of the Disability Benefit, with the Member’s entitlement not to exceed 24% of the Standard Capital Benefit, whether paid as Disability Benefits in accordance with this Rule 7 or as the Capital Benefit Balance in accordance with Rule 8.
(ii) More than five years, 18 monthly payments of the Disability Benefit, with the Member’s entitlement not to exceed 36% of the Standard Capital Benefit, whether paid as Disability Benefits in accordance with this Rule 7 or, as the Capital Benefit Balance in accordance with Rule 8.
(t) Where the Member makes application to the Trustee and in the opinion of the Trustee, circumstances exist that indicate that a Member or a Member’s dependants may be subject to undue financial hardship, the Trustee may in its absolute discretion commence payment of the Disability Benefit disregarding the qualifying periods designated in this Rule.
CONTINUATION OF A CLAIM
(u) Where a Member makes a claim for Disability Benefits and less than 24 Disability Payments are made before the Member regains their Class 1 Medical Certificate, if that Member subsequently makes a further claim within 12 months for the same condition which gave rise to the original claim, the Disability Benefit payments will be deemed to be continuous for the purpose of calculating the number of Disability Benefit payments a Member has received.
COMPLETION OF THE CLAIM
(v) A claim on the Fund and the subsequent liability of the Fund shall be deemed complete at close of business on the last day of the 36th month from the Date of Disability.
(w) Notwithstanding rule 7(v), a Member who can provide evidence that the resolution of the claim is pending, but which will extend beyond the 36th month from date of disability, may make application for an extension of six months. Such an extension shall only be granted where it can be firmly established that a claim can be concluded within the period of any extension.
OBLIGATIONS OF THE MEMBER
(x) A Member in receipt of Disability Benefits in accordance with this Rule shall regularly and when so requested provide the Trustee with:
(i) a report signed by a registered and appropriately qualified medical practitioner indicating the Member’s condition is such as to prevent him/her from returning to normal flying duties and meeting the standards of exercising a Class 1 Medical Certificate;
(ii) a copy of the Member's treatment / management plan; and
(iii) prognosis for the Member's condition (as provided by the Member's treating practitioner).
(y) Each month, a statement from the Member stating clearly:
(i) compliance with the treatment plan; and
(ii) details of the medications and future appointments with Medical Practitioners or treating specialists.
(z) Both the commencement and continuance of Disability Benefits payable in accordance with this Rule, shall be conditional upon satisfactory evidence being provided to show that the Member is taking all reasonable steps to have the Class 1 Medical Certificate reinstated or revalidated.
(aa) Members must make a report of the current medical condition’s status and their compliance with treatment, to the Trustee, in a manner acceptable to the Fund, on the first working day of each month, with supporting evidence as appropriate.
MEMBER DECLINING BENEFITS
(bb) Notwithstanding anything else contained in this Rule, a Member may at any time decline to receive Disability Benefits by notifying the Trustee of the Member’s wish in writing.
MAXIMUM TOTAL BENEFITS PAYABLE
(cc) Unless a Death Benefit is payable in accordance with Rule 9, a Member of the Fund may not receive any combination of Disability Benefits from the Fund which exceed the Standard Capital Benefit and the Premium Capital Benefit for which the Member has contributed.
ELIGIBILITY FOR CAPITAL BENEFITS
(a) Where a Member's Class 1 Medical Certificate is Permanently Lost, a Member may be entitled to payment of the Capital Benefit Balance, subject to this Rule.
COMPLETION OF THE CLAIM AND CESSATION OF LIABILITY
(b) A claim on the Fund and the subsequent liability of the Fund shall be deemed complete at close of business on the last day of the 36th month from the Date of Disability.
(c) Notwithstanding rule 8(b), a Member who can provide evidence that the resolution of the claim is pending but which will extend beyond the 36th month from date of disability, may make application for an extension of six months. Such an extension shall only be granted where it can be firmly established that a claim can be concluded within the period of any extension.
CAPITAL BENEFIT AMOUNT
(d) The Standard Capital Benefit and Premium Capital Benefit amount to which the Member is entitled, is the amount for which the Member had contributed for the Fund Year in which such disability commenced, less any payments already paid to the Member in relation to the claim.
ASSESSMENT FOR PERMANENT LOSS OF CLASS 1 MEDICAL CERTIFICATE
(e) The Trustee must only consider a Member's Medical Certificate as Permanently Lost and the Member eligible for payment of the Capital Benefit Balance, under the following circumstances:
(i) The Trustee has been provided by the Member, two medical assessments from separate and independent specialists in the related discipline relevant to the medical condition giving rise to the claim; and
(ii) The Trustee will consult with the Fund's own specialist in the relevant medical discipline, and that specialist must support the view that the Member's Class 1 Medical Certificate is Permanently Lost.
(f) The Trustee will assess the entitlement of the Member for payment of the Capital Benefit Balance at the following points:
(i) 15 months from Date of Disability;
(ii) 2 months prior to the final Disability Benefit payment; and
(iii) 33 months after the Date of Disability (which is 3 months prior to the cessation of the claim and the Fund's liability).
(g) The Trustee may make its own determination in lieu of the requirements of rule 8(f) when the medical condition is one of the following;
(i) A recognized mental health disorder as specified in and compliant with Rule 6.
(iii) A debilitating terminal illness or disorder that has progressed to the point that incapacitates and subsequently Permanently precludes a Member from holding a valid Class1 Medical Certification.
(h) Where it has been firmly established that prior to the above assessment points, the suspension or invalidation of the Member's Class 1 Medical Certificate is Permanent, the Capital Benefit Balance may at the Trustee's discretion, be authorised for payment.
(i) Any Member who seeks payment of the Capital Benefit Balance must, when so requested by the Trustee, at a time designated by the Trustee, submit to independent medical examination(s) at the expense of the Fund for assessing the Member's medical condition.
(j) In the event of the Trustee obtaining medical opinion from a qualified medical specialist, to the effect that the Member’s condition has improved to such an extent that the Member is expected to be able to revalidate their Class 1 Medical Certificate, then no further payments shall be made from the Fund unless and until the Member makes application to CASA for re-validation of the Class 1 Medical Certificate.
(k) In the event that CASA subsequently rejects the Member’s application for revalidation, and the Member's medical condition can no longer be supported by objective medical diagnosis then the Trustee shall pay no further Benefits.
CAPACITY TO PAY BENEFITS AND THE TIMING OF CAPITAL BENEFIT PAYMENTS
(l) Notwithstanding anything herein contained, the Trustee shall at the end of each Fund Year, total the financial benefits for which the Fund has become liable in the year under review. Where such financial benefits exceed the total net income for the same period then the residue of the total net income after payment of monthly benefits shall be paid to the Members eligible for capital benefits in proportion to the amount of the Standard Capital Benefit and the Premium Capital Benefit for which each such Member had individually made contribution for the period under review.
(m) At the end of any three years during which Rule 8(l) was applied, the Trustee shall total the Benefits to which the Members of the Fund are entitled and where such Benefits do not exceed the total net income of the Fund during such three year period there shall be paid to any Member so entitled, such amount as may have been deducted from such Member’s capital benefit during the period under review.
OBLIGATIONS OF THE MEMBER
(n) A Member claiming payment of a Capital Benefit Balance under this Rule must, during such time, have taken all reasonable steps to re-validate their Class 1 Medical Certificate and obtain the required standard of health to do so. If, in the reasonable opinion of the Trustee, the Member is not taking all reasonable steps to return to medical fitness, and re-attain the standard for a Class 1 Medical Certification, the Trustee is authorized to withhold further Benefit payments.
(o) A Member eligible for payment of Capital Benefit Balance under this Rule must, during such time, when so requested, provide any relevant information to the Trustee and the Fund’s medical advisers and, where appropriate, authorize;
(i) the Trustee and the Fund’s medical advisers to consult with any relevant physician, surgeon or specialist; and
(ii) the Trustee to access the Member's relevant medical and Medicare records or equivalent.
OBLIGATIONS OF THE TRUSTEE
(p) The Trustee must not make payment of a Capital Benefit Balance where in the Trustee’s view, the facts of the relevant claim or medical condition are incomplete or in doubt for any reason whatsoever
(q) Further, if the Trustee is not satisfied that a Member is complying with their obligations under Rules 7 and 8, the Trustee may at its discretion suspend its consideration of the Member's eligibility for Capital Benefit Balance, unless and until it is satisfied that the Member is complying with those Rules.
(a) The Trustee may make payment of the Member’s Capital Benefit Balance and Death Benefit, to the Member’s surviving beneficiaries nominated by the Member or to the Member’s estate, in the event of the Member’s death from any event other than any of the events detailed under Rule 6(c) and (d) with the sole exception of Rule 6(d)(iii).
(b) Where Rule 7(e)(v) is applicable, a percentage of the Standard Capital Benefit and if applicable, the Premium Capital Benefit may be paid by the Trustee in accordance with the percentages contained therein.
(c) Where benefits are payable in respect of death as outlined in sub-section (a) of this Rule and having regard for Rule 8(d) and 8(e), the Trustee shall pay the amount of benefit entitlement, after they have sighted a properly authenticated Certificate of Death. Provided further that the Death Benefit payable shall in no way exceed the amount of the Standard Capital Benefit for which contribution has been received.
(d) Death Benefit shall be calculated as a base amount so determined by the Trustee, and shall increase at the rate of ten (10) percent of the base rate per year of membership to a maximum of ten years. The Death Benefit payable shall not in value exceed the amount of the Standard Capital Benefit in accordance with Rule 9(c).
All benefits payable by the Fund pursuant to these Rules must be paid to the Members or in the event of the Member’s death in accordance with Rule 9.
(a) A Member shall notify the Trustee within 90 days in writing of any event or medical condition which precludes, or might reasonably be expected to preclude, the Member from flying or of suspension or cancellation of a Class 1 Medical Certificate by CASA, stating the reasons for any such suspension or cancellation as the case may be, so far as these are known to the Member. Evidence and advice of treatment being sought for the event or medical condition, is to be provided to the Fund at the time of notification.
Any failure to advise the Trustee of the onset of a medical condition within the ninety day period may result in the rejection of a Member's claim, or the imposition of a Waiting Period.
(b) The Trustee shall, if they so desire, be at liberty, at the expense of the Fund, to appeal such suspension or cancellation in the name of the Member and to employ their own solicitors to conduct such appeal. The Member shall give all possible assistance and information to the Trustee and their solicitors in and about the preparation for and conduct of any such appeal.
(c) In the event of any Member making a fraudulent claim, false or incomplete statements in the Member’s application for membership, or conceals or omits material facts relating to a claim or application for membership he/she shall not be entitled to any benefit from the Fund. Membership of the Fund may be terminated with immediate effect, and notwithstanding anything contained within these Rules, the Member shall not have any entitlement to a refund of any contributions made to the Fund.
(d) Without limiting Rule 11(c), if a Member gives the Trustee incorrect information or does not give the Trustee complete and relevant information about a Pre-Existing Medical Condition, the Trustee may retrospectively apply a denial of liability for that Pre-Existing Medical Condition and so will not be liable to pay any Benefits in respect of a suspension or cancellation of the Member's Class 1 Medical Certificate resulting from that Pre-Existing Medical Condition.
(a) VOLUNTARY: A Member may voluntarily withdraw from membership of the Fund by notifying the Trustee in writing of the intention to do so, specifying the date.
(i) Such notification may be given at any time and membership shall cease upon receipt by the Trustee of such notification with respect of the specified date of resignation.
(ii) If such notification does not specify a date then the Trustee shall deem the date to be that of the Trustee receiving such notification.
(iii) The Trustee may at their discretion repay to the Member from the Fund such portion of the then current contribution as represents the period from the date of termination to the end of the current year of the Fund.
(b) AUTOMATIC: Membership of the Fund shall be terminated upon the happening of any of the following:
(i) If the Member has been declared to be an unfinancial Member of the Australian Federation of Air Pilots. Such termination shall not be made effective until the end of the Fund Year (30th April) during which the Member was declared to be un-financial with the AFAP.
(ii) If the Member has failed to pay his/her annual contribution within the period fixed by these Rules.
(iii) If the Member has reached the age of sixty-five years.
(iv) If the Member has received payment of the full Capital Benefit due under these Rules.
(v) Upon the Member receiving all 24 monthly Disability Benefit payments due under these Rules.
(vi) If the Member ceases to be employed as a pilot or ceases to derive his/her principal income from piloting activities. Three years from that date. A pilot so affected by this Rule (and who has been a member for at least five (5) years previously) who should subsequently obtain employment within two (2) years of termination under this Rule, will upon application to the Trustee be eligible for reinstatement without penalty in terms of age of joining and continuity of service at the discretion of the Trustee.
(vii) A pilot so affected by clause (a) and sub-clauses (b)(iii) and (vi) of this Rule shall remain entitled to a refund of contributions in accordance with the refund of contributions rule.
Before any court proceedings can be commenced (except seeking injunctive relief) all disputes arising out of any claim must be referred to the Financial Ombudsman Service for determination.
Subject to Rule 16, the Trustee of the Fund is Austair Pilots Pty Ltd ACN 005 111 731 ("Austair").
(b) TRUSTEE DUTIES:
The Trustee, through its directors ("Directors" or "Board") shall control the administration of the Fund and shall, in addition to any other powers or duties herein contained:
(i) Examine all applications for Membership of the Fund, and where appropriate authorise the acceptance of a member subject to any exclusions or conditions as provided for in these Rules.
(ii) Examine all notifications of disability made.
(iii) Examine all claims made on the Fund and authorise all payments that are to be made on claims, either as Monthly Benefits or Capital Benefits.
(iv) Keep records of all applications, claims and correspondence in relation to the Fund and to record and keep minutes of all meetings of the Directors, and all meetings of the members.
(v) Ensure that financial members of the Fund are kept well informed as to the Rules of the Fund and any changes made thereto.
(vi) Authorise and supervise the investment of monies of the Fund in accordance with the provisions of Rule 18.
(vii) Do all such acts and things as may be necessary for the carrying out of the objects of the Fund. All documents requiring execution on behalf of the Fund shall be signed by the Chairman and at least one other Director or by such other person as the Directors may from time to time determine.
(viii) Appoint an Audit Sub-Committee consisting of no less than 3 Directors.
(ix) Appoint an Investment Sub-Committee consisting of no less than 3 Directors.
(x) Notwithstanding any other provision in this Rule 14(b), the role of a caretaker Director appointed in accordance with Rule 14(c)(v) shall be limited in accordance with that rule.
(c) GOVERNANCE ARRANGEMENTS
(i) Number and qualification of Directors
The number of Directors shall be nine (9) who shall be members of the AFAP and members of the Fund, or in accordance with Rule 14 (c)(ii)(f), former members of the Fund in good standing, provided that a Director must not be a Federal officer of the AFAP.
(ii) Election of Directors
Directors shall be elected by secret ballot of the members of the Fund as per the following procedures.
(a) Nominations for the available Director positions will be called by the Chairman by notification to the members not less than 60 days prior to the Annual General Meeting.
(b) Members nominating for a Director position will be required to submit their written application within 21 days of this nomination request.
(c) The member nominating for a Director position must have his or her nomination seconded by a current member of the Fund.
(d) The Chairman will call for voting on the nominating Directors not less than 30 days prior to the Annual General Meeting by notification to the members. The voting process will close 21 days after the date of the written request to the members.
(e) Members appointed as a Director in accordance with this Rule 14(c)(ii) shall commence their appointment at and from the date of the Annual General Meeting referred to in Fund Rule 14(c)(ii)(d).
(f) A Director whose membership of the Fund is automatically terminated under Fund Rule 12(b)(iii) or Fund Rule 12(b)(v) may serve the remainder of that term of office as a Director, and is further eligible to nominate for, be elected and serve a sole additional consecutive term in accordance with Fund Rule 14(c)(iii).
(g) No more than three Directors employed by the same individual company or associated group of companies can serve as a Director at any one time.
(h) Before being eligible to be elected as a Director, a member must have been a member of the Fund for at least the previous three years.
(iii) Term of Office
The Directors elected shall hold office from the conclusion of the Annual General Meeting at which they were appointed until the conclusion of the third subsequent Annual General Meeting after their appointment, and may be eligible for re-appointment for additional consecutive terms (being terms commencing at the conclusion of an Annual General Meeting and ending at the conclusion of the third subsequent Annual General Meeting).
(iv) Rotation of Directors
Of the Directors appointed in accordance with Rule 14(c), three shall retire at each Annual General Meeting and the Directors who so retire shall be determined by the length of time elapsed since their appointment or where necessary by lot.
(a) In the event of the office of any Director becoming vacant due to the death or resignation or removal of a Director, the remaining Directors must, within 30 days of the vacancy occurring, appoint a member of the Fund to act as a caretaker Director in the place of the Director who dies or resigns or is removed. The caretaker Director shall hold office until such time as a replacement Director can be elected in accordance with Rules 14(c)(v)(c) and 14(c)(ii).
(b) A caretaker Director appointed in accordance with Rule 14(c)(v)(a) shall be entitled to vote only on decisions in respect of applications for membership and payments of member benefits.
(c) Immediately following the appointment of a caretaker Director under Rule 14(c)(v)(a), the Chairman must call for a secret ballot of all members to elect a replacement Director.
(d) The procedure for election of the replacement Director shall follow the procedure set out in Rule 14(c)(ii) above, except that:
(i) Nominations must be called by the Chairman within 14 days of the appointment of the caretaker Director.
(ii) The Chairman will call for voting on the nominating Director(s) within 14 days after the deadline for receipt of nominations.
(iii) The appointment shall commence on the day after the secret ballot is counted.
(e) A replacement Director elected in accordance with Rule 14(c)(v)(c) will hold office for the balance of the unexpired term of the vacating Director, at which point he or she shall retire but may be eligible for re-election.
A Director may be removed by secret ballot of the members of the Fund in accordance with the following procedures:
(a) A secret ballot to remove a Director may be requisitioned by notice in writing to the Chairman signed by at least 5% of the members of the Fund.
(b) The Chairman will call for voting on the removal of the Director by notification to the members within 30 days of receipt of the requisition.
(c) The voting process will close 21 days after the date of the written request to the members.
(d) A Director will be removed from office if the majority of votes received in the secret ballot are in favour of the removal.
(e) A vacancy resulting from the removal of a Director must be filled in accordance with Rule 14(c)(v).
Notwithstanding any other rule, if the removal of a Director would result in no Directors holding office, the removal will not take effect until a replacement Director has been appointed under Rule 14(c)(v).
(vii) Meetings and Notice of Meetings
(a) Meetings of the Directors shall normally be held once per month.
(b) At the request in writing of any four Directors, the Chairman shall convene a special meeting of Directors.
(c) Notice of meetings shall be given in writing by the Chairman to Directors as far in advance as possible and not less than three business days before the day appointed for the meeting.
(d) Directors meetings may be held as required using a teleconference facility or telephone link-up system.
(a) Four Directors present at any meeting shall constitute a quorum.
(b) Where it is not possible to establish a quorum for any meeting called in accordance with Rule 14(c)(viii)(a), any three Directors shall constitute a quorum for the sole purpose of authorising the payment of claims under the Fund Rules.
The Directors each year shall, at the Directors meeting next succeeding each Annual General Meeting, elect a Chairman from among their number to serve in that capacity until the Directors' meeting next succeeding the following Annual General Meeting.
The Trustee and Directors shall not be responsible for any loss or damage caused by the exercise of any discretion or power conferred by these Rules or by law or by the failure to exercise any such discretion or power or any breach of duty or trust except as a consequence of dishonesty or bad faith.
The Trustee, the Directors and any other officer, employee and person holding office in the Fund or the Trustee (including but not limited to the Fund Management) for the time being or who has in the past held that office, shall be indemnified, out of the assets of the Fund, from all actions, proceedings, suits, claims, demands, liabilities, losses and expenses incurred by them, or any of them in carrying out, or about the discharge of their respective duties, irrespective of whether or not such actions, proceedings, suits, claims, demands, liabilities, losses and expenses are incurred as a result of the negligence.
(a) Austair may only resign as Trustee of the Fund if the Directors are instructed by the members of the Fund to effect such resignation, in accordance with the following procedures:
(i) A secret ballot to instruct the Directors to effect the resignation of Austair as Trustee may be requisitioned by notice in writing to the Chairman signed by at least 5% of the members of the Fund.
(ii)The Chairman will call for voting on the issue by notification to the members within 30 days of receipt of the requisition.
(iii) The voting process will close 21 days after the date of the written request to the members.
(iv) If the majority of votes received in the secret ballot are in favour of instructing the Directors to effect Austair's resignation as Trustee, the Directors must effect the resignation of Austair as Trustee of the Fund within 30 days of closure of the voting process.
(b) If for any reason Austair ceases to be Trustee without a rule change which provides for a successor Trustee (for example, by winding up), the Supreme Court of Victoria should appoint a successor Trustee. It is the Members' intention that a successor Trustee or Trustees be a person or persons who are or have as office-bearers persons elected by, or representative of, the Members of the Fund.
The Trustee shall cause proper books of account to be kept in relation to the transactions of the Fund. A Balance Sheet shall be prepared as at 30th April each year together with supporting accounts for the preceding twelve months ending on that date. Such accounts shall be subject to annual audit by the Auditors appointed to the Fund.
The Trustee is empowered to invest monies belonging to the Fund in any of the investments authorised by law for the investment of Trust Funds.
The Trustee may borrow upon the security of the assets of the Fund at any time such amount or amounts as they may in their discretion consider to be reasonably necessary for the payment of amounts due to Members or for the management and operation of the said Fund or for such purpose as the Trustee consider expedient for the carrying out of the objects of the Fund. Any sum or sums so borrowed may be borrowed with or without security from any bank or other lending institution and from any individual.
(a) The Trustee shall cause to be created accounts appropriate to the operation and investment activities of the Fund.
(b) Payments out of any account or banking instrument shall only be authorised upon the signature of the Chairman of Trustee or his designate, and one other Trustee or person designated from time to time by the Trustee.
(c) Notwithstanding Rule 20(b), transfers between accounts of the Fund may be authorised by the Chairman or any other person as may be designated from time to time by the Trustee.
(a) Annual Meetings of the Members of the Fund shall be held at such time as the Trustee shall determine provided that the maximum elapsed time between such meetings shall not exceed fifteen months.
(b) The venue for such meetings shall be at such places as may be determined by the Trustee from time to time.
(c) Not less than thirty days prior to an Annual General Meeting all Members shall be notified of the venue, time of commencement and matters of business to be discussed including the provision for matters of general business.
(d) The business of the Annual General Meeting shall be to receive and consider the balance sheets, profit and loss accounts and report of the Auditor, to elect an Auditor of the Fund, and to transact any other business of which notice has been given in writing to all Members.
(e) The Chairman of the Annual General Meeting shall be the Chairman of the Trustee but in the event of his absence the directors of the Trustee shall from their number prior to the commencement of the meeting elect one of such number to act as Chairman at such meeting.
(f) The Chairman may with the consent of the Members present adjourn the Annual Meeting from time to time and from place to place. Subject to the approval of the Annual Meeting, such adjourned meeting may deal with any new business left unfinished at the meeting at which the adjournment took place.
(a) Special Meetings of the Members of the Fund may be called at any time at the discretion of the Chairman of the Trustee or upon requisition made in writing signed by not less than twenty Members of the Fund.
(b) Any requisition for the Special Meeting shall specify the subject of the required meeting and shall be lodged with the Trustee at the office of the Australian Air Pilots Mutual Benefit Fund.
(c) Should the Special Meeting not be organised within thirty days of the lodgement of such requisition, the requisitionists may themselves organise a Special Meeting to be held within twenty-eight days after such lodgement.
(d) Notification of any Special Meeting must be given fourteen days in advance by notification to each Member of the Fund at his address shown in the books of the Fund.
Ten financial members of the Australian Air Pilots Mutual Benefit Fund shall constitute a quorum for the transaction of business at the Annual General Meeting or any Special Meeting of the Members of the Fund.
(a) The Object and Rules of the Fund shall not be altered, amended, added to or repealed, except by resolution of the Members of the Fund by secret ballot.
(b) Not less than twenty eight (28) days’ notice in writing shall be given of any proposed alteration, amendment, addition to or repeal of the Objects or Rules of the Fund, and no such alteration shall be effective unless agreed to by a simple majority of eligible Members who cast a vote in a secret ballot on the issue.
(c) While Austair is Trustee of the Fund, the constitution of Austair may only be modified or repealed in accordance with the same procedures set out in Rule 24(a) and (b) relating to amendment of these Rules.
(a) The Fund may be dissolved by a 75% majority vote of the Members of the Fund who exercise their voting rights, provided that not less than two thirds (2/3) of such Members exercise such rights. Such voting shall be by secret ballot and the minimum elapsed time from the initiation of the ballot to the closure of the ballot shall be forty-two (42) days.
(b) Upon the dissolution of the Fund its assets shall be realised by the Trustee either by public auction, private contract or by such means and on such terms and conditions as the Trustee in their absolute discretion consider advisable. From the realisation of the said assets all debts and liabilities of the Fund including the costs of realisation and winding up thereof shall be paid, and subject thereto any remaining assets shall be divided amongst the Members of the Fund existing at the date of the dissolution of the Fund in proportion to the amount of contributions paid by them or on their behalf.