Constitution of the Institute of Bankers. 1.-The name of the Institute is "THE INSTITUTE OF BANKERS." 2.-The Institute is an Association of gentlemen connected with the various branches of Banking. Its primary object is to facilitate the consideration and discussion of matters of interest to the profession, and, where advisable, to take measures to further the decisions arrived at; and its secondary object is to afford opportunities for the acquisition of a knowledge of the theory of Banking. 3.-The Institute shall afford facilities for the reading, discussion, and publication of approved papers, by Members and others; shall, when desirable, recognize and arrange for the delivery of Lectures on Banking, Mercantile Law, Political Economy, and other kindred subjects; shall issue Certificates to those who may pass Examinations approved of from time to time by the Council of the Institute; and shall found a Library, consisting of Works on Banking, Commerce, Finance, and Political Economy. 4. If the Council shall at any time, or from time to time, think it desirable to acquire for the purposes of the Institute the whole or part of any building or buildings, they shall have power to purchase or lease the same upon such terms as they shall think fit, and they shall also have power from time to time to sell or surrender any premises which, in their judgment, are no longer required for such objects. 5.-The Members of the Institute are Fellows, Associates, and Ordinary Members :— FELLOWS shall be elected by the Council. Each applicant for admission as a Fellow shall be nominated by two or more Fellows, who shall certify in writing that the candidate is a fit person to be elected a Fellow of the Institute of Bankers. The Council shall have power to elect as Honorary Fellows men of distinction in the practice or literature of Banking, Mercantile Law, Political Economy, or other kindred subjects. ASSOCIATES shall in future be elected by the Council from those who have not been less than ten years in the service of any Bank; or from those who have passed the examination instituted or recognised by the Council; or from those who, being on the staff of a Bank, are Graduates of any University. Each applicant for admission as an Associate shall in every case be proposed by two Fellows of the Institute, who shall certify in writing that the Candidate is a fit person to be elected an Associate of the Institute of Bankers. ORDINARY MEMBERS.-Clerks on the staff of any Banking Establishment, and who shall be approved by the Council. 6.-Associates and Ordinary Members, as well as Fellows, shall have the right to be present at the various meetings of the Institute; but in any case when any election is to be made, or the opinion or decision of the Institute is to be taken on any subject or question by vote, at any Meeting, ordinary or special, the Fellows and Associates of the Institute shall, except where otherwise specially provided by the Constitution, alone be entitled to vote. 7.-The control of the Institute shall be vested in the President, Vice-Presidents, Treasurer, and Council for the time being. 8. The President, Vice-Presidents, and Treasurer shall ex officio be Members of the Council. They shall be elected each year, at the Annual General Meeting, from among the Fellows of the Institute. Each shall be eligible for re-election, and shall hold office until his successor is appointed. The Council shall be not more than twenty-four in number, exclusive of the President, Vice-Presidents, and Treasurer. At each Annual General Meeting six Members of the Council shall retire from office. The order of retirement shall be determined by the Council. Each shall be eligible for re-election. At each Annual General Meeting a sufficient number of Members of Council shall be elected from among the Fellows to supply the places of those retiring. The notice convening the Annual General Meeting shall state the names of those recommended by the Council for election as President, Vice-Presidents, Treasurer, and as Members of Council, to supply the places of those retiring. 9.-On any extraordinary vacancy of the office of the President, or any Officer other than Trustee of the Institute, or in the Council, a meeting of the Council shall be summoned with as little delay as possible, and shall choose a new President, or other Officer of the Institute, or Member of the Council, as the case may be, to hold office until the next Annual General Meeting. 10. AUDITORS.-At the Annual General Meeting in each year two Fellows of the Institute, not being Members of the Council, shall be elected to act as Auditors for the ensuing year. The Auditors shall hold office until the next Annual General Meeting, and shall be eligible for re-election. 11.—TRUSTEES.-The property of the Institute shall be vested in three Trustees, and a Resolution of the Council shall, in all cases, be a suficient authority and protection to the Trustees for and in respect of any conveyance, transfer, payment, or other act thereby directed. The present Trustees are Sir John Lubbock, Bart., M.P., Richard B. Martin, Esq., M.P., and George Rae, Esq. Each Trustee, whether already appointed or to be appointed, shall hold office until his death, resignation, or removal. Any Trustee may retire from office on giving a written notice, addressed to the Council, of his desire so to do. Any Trustee may be removed at a Special General Meeting if it shall be determined at the Meeting that sufficient cause exists for such removal, and any vacancy in the office of Trustees may be supplied from among the Fellows at the same or any other Special General Meeting. 12.-The Council shall appoint two or more of their number to be Honorary Secretaries, and engage such paid Officers as they from time to time deem necessary. 13.-The Council shall meet once a month, or oftener, as may be requisite. Five Members to be a quorum. 14.-The Council may, from time to time, issue a Journal, or such other publication as they may think desirable, and for this purpose appoint one of their Members to be Honorary Editor, and engage such paid assistance, and apply in paying the expenses of the Journal such part of the funds of the Institute, as in their judgment may be necessary. 15.-The Subscriptions to the Institute shall be Two Guineas for Fellows, One Guinea for Associates, and Ten Shillings and Sixpence for Ordinary Members, payable annually, in advance, on the 1st of January in each year, which may be compounded for by payment, at any one time, of Twenty Guineas for Fellows, and Ten Guineas for Associates. One year's Subscription shall be payable on admission, unless the date of admission be later than the 30th of June, when only a half-year's Subscription shall be so payable. 16.-Any Fellow, Associate, or Ordinary Member who shall not have paid his Subscription before the 1st of March in any year may be declared a defaulter by the Council, whereupon he shall cease to be a Member of the Institute. 17.—Any Fellow, Associate, or Ordinary Member may resign, on giving notice of his intention, in writing, to the Council; but no one can withdraw his name from the books of the Institute unless his Subscription shall have been paid for the year in which the notice of his resignation is received. 18. A majority of not less than three-fourths of the Members of the Council present at a meeting, special notice having been given for that purpose, may remove from the books of the Institute the name of any Fellow, Associate, or Ordinary Member, who, in their judgment, shall have been guilty of any act derogatory to his character and reputation, and calculated to bring discredit on the Institute, and he shall thereupon cease to be a Member of the Institute. 19. The Ordinary General Meetings of the Institute shall be monthly, or oftener during the Session, which shall be from October to May, both inclusive, on such days and at such hours as the Council shall declare. The Council may, when it appears to them necessary, and shall on the written requisition of not less than fifty Members of the Institute, of whom not less than fifteen shall be Fellows, call a Special General Meeting of the Institute. 20.-A General Meeting of Fellows, Associates, and Ordinary Members shall be held once in every year, at such time as the Council may determine, to receive the Report of the Council and the Treasurer's Accounts, to elect the Officers of the Institute, and to decide questions concerning its Rules and Management. 21.-All elections, whether by the Council or otherwise, shall be by ballot, and, except where the Constitution shall otherwise provide, all elections and all questions shall be determined by a majority of votes. 22.-A majority of the Fellows, Associates, and Ordinary Members present at a Special General Meeting shall have power to make, from time to time, any alterations in the Constitution not inconsistent with its main object, but no alteration shall be made without notice of the proposed alteration having been given in the notice convening the meeting, nor until the minutes of such meeting have been confirmed at a subsequent General Meeting, Ordinary or Special, at which subsequent meeting Ordinary Members, as well as Fellows and Associates, shall have the right to vote. 23.—All notices of General Meetings shall be either delivered at, or sent by post to, the last known place of business of each Member of the Institute ten days at least before the day of the meeting. Every notice of a Special General Meeting shall specify the object with which such meeting is convened. 24. The Council may, from time to time, make such Bye-laws, not inconsistent with this Constitution, as in their judgment may be necessary or desirable in the interests of the Institute. 25.-All persons either admitted as Fellows, Associates, or Ordinary Members shall, upon their admission, sign a declaration (in the form annexed) to observe the Rules, Regulations, and Bye-laws of the Institute for the time being in force. DECLARATION OF MEMBERSHIP. Christian names and Surname in full, clearly written. I, do hereby declare that I will endeavour to further the good of the Institute of Bankers, and the ends for which the same has been founded, and that I will keep and fulfil the Rules and Orders of the Institute, provided that whensoever I shall make known in writing, under my hand, to the Council for the time being, that I desire to withdraw from the Institute, I shall be free thenceforward from this obligation. Members are requested to note that the above form of declaration (a copy of which is forwarded to each Fellow, Associate, or Ordinary Member, with the notice of his election) should be filled up and transmitted to the Secretary, together with amount of Annual Subscription due on election, with as little delay as possible. |