CONTENTS

1. GENERAL PROVISIONS

2. PROCEDURE FOR ADMISSION TO MEMBERSHIP

3. EXCHANGE MEMBER RIGHTS AND OBLIGATIONS

4. INFORMATION TO BE FURNISHED TO THE EXCHANGE

5. ADMISSION OF A MEMBER TO THE TRADING SYSTEM AND SUSPENSION OF PARTICIPATION IN THE TRADES

6. TERMINATION OF MEMBERSHIP

7. PAYMENT OF MEMBERSHIP FEES

Appendix N1 APPLICATION

Appendix N2

Appendix N3 AGREEMENT ON CONDUCTING SECURITIES OPERATIONS ON THE GEORGIAN STOCK EXCHANGE

1. SUBJECT OF AGREEMENT

2. LIABILITIES OF THE PARTIES

3. RIGHTS OF THE PARTIES

4. LIABILITIES OF THE PARTIES

5. FORM OF INFORMATION SUBMISSION

6. DISPUTE SETTLEMENT

7. CONFIDENTIALITY

8. FORCE MAJOUR

9. TERM OF AGREEMENT AND RULES OF AMENDMENT

10. REQUISITES OF THE PARTIES