Your status will be Silver until 31 Jul 2010, and points will be reset to zero. If during this time you achieve enough points to ATTAIN (not retain) gold (ie 700) - you will move up to Gold. If you achieve 1400 points, you will move up to Platinum.

You retain the membership level for a minimum of one membership year, plus any existing time left in the current membership year. For example, if you achieved Platinum on the 5th August 2009, you'd be platinum right up until 31 Jul 2011.

If you don't retain Platinum for 31 Jul 2011 - 31 Jul 2012, you'll be "soft-landed" down to Gold (even if you haven't flown at all).

Hope that's not too confusing!