EXPLANATORY MEMORANDUM
Supplemental Royal Charter of the Institute of Chartered Accountants in Australia
Approval of new By-laws
On 22 August 2007 a Supplemental Royal Charter ("the Charter") was granted to the Institute of Chartered Accountants in Australia ("the Institute"). Article 21 of the Charter provides that the Institute may from time to time, by resolution approved by a ballot conducted in accordance with the By-laws, make such By-laws for the better execution of the Charter, the furtherance of the objects of the Institute and generally for regulating the affairs of the Institute as to the Institute seem fit and may from time to time rescind, vary or add to any By-laws and make others in their stead, but so that the By-laws for the time being are not in any respect repugnant to the laws of the Commonwealth of Australia or of any of the States or Territories comprised in the Commonwealth or inconsistent with the express provisions of the Charter.
Article 22 of the Charter provides that no By-law or any rescission or variation thereof or addition thereto shall come into operation until the same shall have been submitted to and approved by the Governor-General in and over the Commonwealth of Australia or the person for the time being administering the Government of the Commonwealth of Australia.
Article 23 of the Charter provides that the Board of the Institute shall cause all such By-laws, when approved, to be printed and published together with the formal approval of the Governor-General in the Official Gazette of the Commonwealth of Australia.
The Institute is now seeking the approval of a new set of By-laws, incorporating a number of amendments.
The proposed amendments to the By-laws were made by resolution approved by the requisite majority of members in an electronic and postal ballot of members conducted in accordance with the By-laws in November 2012.
The principal amendments to the By-laws involve:
- introducing a definition of “document”, specifically stated to include an electronic mail
- adding a disciplinary sanction that permits the removal of a member’s fellowship status
- expanding the bases on which disciplinary action can be brought against a member to include where the member has entered into undertakings or consent orders, and where the member has had the imposition of a condition or restriction on any professional registration or licence
The opportunity has also been taken to make a minor change to the language of the By-laws that identifies conditions that must be satisfied for admission to membership of the Institute, and to remove reference to a refund of application fees for an unsuccessful application for membership, so that the matter of such refunds can be dealt with by business policy rather than via the By-laws.
Full version of the new By-laws document can be obtained on the Institute of Chartered Accountants in Australia’s website http://www.charteredaccountants.com.au/The-Institute/Governance/Our-governance-model.aspx.
Witness under my hand 13/2/2013
Quentin Bryce AC
Governor-General