An application for concluding a section membership agreement must include the documents and certificates listed in Regulations on Section Membership.The Board of Directors shall issue a board decision on granting section membership and on concluding a section membership agreement with the applicant within thirty (30) days after receipt of an application that abides by all the conditions in full, containing also all other documents that may have been requested by the CEO to verify the good reputation of the applicant in business circles.  A section membership agreement takes effect at the date specified in the board decision. (onset of section membership)

In respect of a submitted application for section membership, the Trading Committee has the power to issue an opinion, and the Exchange shall notify the Trading Committee on all applications for section membership and, should the Trading Committee request so, shall make available the documentation received with the application to the Trading Committee.

If an application fails to conform to the provisions of law or to a condition required by an exchange rule, the Board of Directors shall instruct the applicant in writing within thirty (30) days to submit any missing documents and shall identify the inadequate documentation item by item.

Applicants must deliver missing documents to the Exchange within ten (10) exchange days of the receipt of the instructions specifying the inadequate documentation.

After missing documents are received or upon the expiration of the deadline specified above, the Board of Directors evaluates the acquisition of a section membership based on the documents available to it.

The period for evaluating an application for a section membership agreement restarts on the date the applicant submits missing documents.

In the event that an applicant who is already a member of a section applies for a membership agreement in another section, the applicant does not need to resubmit any documents it had submitted for the earlier procedure, provided such documents are still in effect.