Our consultation with members
We consulted with members on our formal petition to become a chartered body, and on the draft Charter, Bye-Laws and regulations which will become our new governance documents, replacing our existing Articles of Association.
In developing the draft Charter, Bye-Laws and Regulations we have aimed to achieve three key things:
- Retaining the same democratic accountability to our members, with identical provisions in relation to the election of the Board of Trustees, and substantive processes and procedures for meetings such as our AGM
- Simplifying and modernising the way we work where this is possible. For example, simplifying the processes in relation to allowing notices of meetings and voting electronically
- Reflecting the best practice we have seen in the Charters, Bye-Laws and Regulations of other similar, modern professional bodies.
You can read more about how our lawyers, BWB, prepared these draft governing documents.
What are the next steps in applying to be granted chartered status?
An Order granting a Royal Charter to the IoF was approved by Her Majesty The Queen in a meeting of the Privy Council on 12th February 2020.
The Royal Charter does not take legal effect until the Royal seal is attached, which is expected to happen within the next few months.
What steps have we taken to get to this point?
Our Board of Trustees agreed the draft of our Charter, Bye-Laws and Regulations at their meeting on 29 March 2019.
We consulted with members, the Privy Council, OSCR and the Charity Commission.
Our members voted on the Resolution and voted in favour at our AGM in 2019.
The new Charter, Bye-Laws and Regulations were submitted formally to the Privy Council alongside our formal petition.
The Privy Council has approved our submission, and on 12th February 2020 Her Majesty The Queen has approved an Order granting a Royal Charter.