By the charter of King Charles II in 1661, the company was erected into a body politic, capable of making laws, under the title of the "Company of Merchants of England trading to the Seas of the Levant". The number of members was not limited, but averaged about 300. The principal qualification required was that the candidate be a wholesale merchant, either by family, or by serving an apprenticeship of seven years. Those under 25 years of age paid 25 pounds at their admission; those above, twice as much. Each made an oath, at his entrance, not to send any merchandise to the Levant, except on his own account; and not to consign them to any but the company's agents, or factors. The company governed itself by a plurality of voices.