Calculation of club fees
The amount of the annual Club Budget is divided amongst the Members by applying the following formula:
CF is the Club Fee payable by a Member rounded to the nearest $5; PP is the amount of Première Points of that Member;
BC is the base cost for each Première Point determined by the product of the proportion that the Première Points of that Member bears to the Total Première Points at the date the calculation is made and the annual Club Budget; and
DF is the discount factor which applies to each Membership class in accordance with the table in Figure N.
Subject to the Corporations Act and to any relief from ASIC, the Club Fees will be held by the Responsible Entity in a Levies Account.
More information about the Club Budget is set out in sections 7.13 and 7.14.