Commencement and termination of membership

Membership commences on effective date of the license issued to a service provider for engaging in a covered line of business. If the member organisation joins IPF voluntarily (commodity exchange service providers, branch offices), membership commences on the day the Declaration of Intended Membership is submitted and the initial contribution is paid.

The IPF publishes the membership initiation dates both on the website of the Hungarian Financial Supervisory Authority (www.kozzetetelek.hu) and on its own website.

Membership terminates upon the withdrawal of the license to engage in the provision of covered investment services on the effective date of the related decision issued by the HFSA.