SCHEDULEEdinburgh Merchant Company

Part IIProvisions as to Merchant Company

E. Fees, etc., payable by members

18Power to impose annual subscriptions, etc

The Company may impose an annual subscription or special levy on members, provided that such imposition and the amount thereof and any variations to them are sanctioned by a resolution passed by a majority of the members present and voting at a stated general meeting of the Company.