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Constitution
The name of the Association shall be
"The Association of Corporate Trustees".
1. To Represent the interests of corporate trustees and to consider and take any appropriate action on items on mutual interest in the fields of law, taxation, investment and any other related technical and practical subjects with which corporate trustees are or may be concerned, and to advance the interest of members by representation to the government and other departments or in any other way whatsoever.
2. To establish a means of communication and consultation with comparable professional and technical associations and societies.
3. To keep under consideration the academic and technical training required by the staff of members and to make representation to appropriate education and examining bodies with regard thereto and by that means to foster a high standard in the quality of corporate trustees services.
4.To provide a forum for discussion and the arrangement of seminars, lectures and meetings on the matter of interest to members.
5. To consider and act upon any matters not specifically mentioned before which are or may be of interest, import or concern to the members, or any one of them or of their customers, clients or associates.
The Association shall consist of trust
companies and other companies and organisations engaged on trust and allied business as
shall be approved by the Council and confirmed at the next General Meeting following
approval by the Council.
Where two or more members of a group
of companies wish to belong to the Association, each, if elected, shall be entitled to be
a member in its own right, in which case it shall be a full member and pay the full
subscription. If the group wishes to have only one full membership, and the Council agrees, the other companies in the group
shall be Associate Members, paying such reduced subscription as the Council shall decide.
Only full members shall be entitled to
entitled to vote at meetings and to describe themselves as members of the Association. A group of companies may not be represented by an
associate member only.
The Management of the Association
shall vest in a Council which shall consist of a President, a representative of our
Scottish members, and not more than twelve other individual representatives, all to be
elected or re-elected at an Annual General Meeting. Apart
from the President, who shall be elected or re-elected annually, three of the other
members of the Council shall retire annually by rotation but shall be eligible for
re-election.
The Council may appoint a Vice
President from its members.
The Secretary shall be elected and
appointed on such terms as agreed by the Council and, if necessary, his services shall be
remunerates by salary, honorarium or fee and generally in any other manner deemed
appropriate by the Council.
The Council shall have power to employ
such staff as in its opinion is necessary.
The Council shall have power to co-opt
additional members at any time.
For a Council Meeting four shall be a
quorum.
The Council shall have power to
appoint Committees (comprised of members of the Council or other persons who are employed
by member organisations) and to delegate to such Committees such powers and
responsibilities as the Council may decide. The Council shall have power to appoint
Secretaries for such Committees and to award such Secretaries such honoraria as it shall
think fit provided that it may in its sole discretion make payment to a member company
employing any such secretary.
If any individual member of the
Council or of a Committee cannot attend a meeting he may nominate a substitute from his
own organisation who may vote provided there is a quorum of appointed members
present.
It shall be permissible for an
Honorary Life President to be elected at an Annual General Meeting.
It shall be permissible at an Annual
General Meeting to elect an Honorary Founder President.
An Annual General Meeting of the
Association shall be held each year at such time and in such place as shall be from time
to time fixed by the Council.
Nominations for the Council shall be
in the hands of the Secretary at least fourteen days before the Annual General Meeting,
the date and place of which shall be advised to the members at least twenty-one days
before it is to be held.
Any meeting other than an Annual
General Meeting shall be a General Meeting of members.
A General Meeting may be called either
by the Council or by not less than one-fifth of the members and in each case twenty-one
days notice of the meeting and the reason for the calling of the meeting must be
given.
For an Annual General Meeting or a
General Meeting, ten members shall be a quorum for the purposes of passing a resolution
relating to amendments in the Constitution and Articles.
The expenses of the
Association shall be provided for by the annual contributions of each member and such
subscriptions shall be fixed from time to time by the Council.
The Constitution and Articles of the
Association may be amended at any Annual or General Meeting by a vote of two-thirds of the
representation of the members present, provided that notice setting forth such proposed
amendments shall have been sent to all members at least twenty-one days prior to the date
of such meeting.
The Council shall have power to suspend the membership of any member at any time without assigning any reason and shall report the circumstances to the next General Meeting for confirmation.
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