What Happens When Someone Resigns From The Academy?

In the aftermath of Will Smith slapping Chris Rock at the 94th Oscars, Smith voluntarily resigned his membership from the Academy of Motion Picture Arts and Sciences. First and foremost, this means he can no longer vote or access screeners for films in consideration for awards.
Smith has also lost the privilege to attend next year’s awards ceremony to present the best actress award, which the previous year’s best actor does as per tradition. And while he can still be eligible for future nominations as a non-member and may be admitted back into the Academy at the board’s discretion, it’s too early in the controversy to even
consider these possibilities.
However, one penalty that the board probably won’t make is rescinding Smith’s Best Actor Oscar for “King Richard.” Industry experts say that making Smith return his Oscar will raise the question of whether other controversial filmmakers like Mel Gibson, Harvey Weinstein, and Roman Polanski should have to return their awards as well.