Each issue shall have a separate association of Bondholders to protect the common interests of the members thereof. One of the members of this Association or a third party shall be appointed as the legal representative thereof. Issuer shall, within one month of the date of the end of subscription in Bonds, call for the Bondholders’ Association to approve the statute and elect or choose the representative thereof. If the Issuer fails to call for the Bondholders’ Association to meet within the period referred to in the previous paragraph, any relevant party shall have the right to apply to the Authority for calling for the Bondholders’ Association to meet within a period of no more than fifteen Business Days from the date of applying.