FINACT Constitution – Amendments

Dear General Council (GC) Members,

On behalf of FINACT’s Executive Committee, I would like to thank you  for your feedback on the  FINACT constitution. The Executive Committee really appreciates your time and efforts. Please find attached the amended constitution for your reference.

Amish ChaturvediThe Executive Committee met on the 17 March to pour over the suggestions and after careful  consideration decided to implement the following amendments:

1) Clause 4B ii and 4biii as discussed and agreed at the General Council meeting ; and

2) Include a Women representative clause in the current constitution to address women issues
A number of the members suggested addressing the voting rights issue of the associate members to maintain their on-going interest in FINACT and also to make FINACT more inclusive by embracing smaller organisations  that may not be incorporated because of a variety of reasons.  Whilst the Executive Committee in principal agrees with the spirit of these requests, it felt that this constitutional amendment may be a decision for the General Council to make and has therefore decided to refer it back to the GC for resolution at its next meeting.  The details of that meeting will be advised to you shortly. As stated at the last GC meeting, the FINACT constitution can be amended at anytime after incorporation (if an overwhelming majority of the GC members feel the need to modify, add or delete a particular clause) to improve FINACT’s ability to influence and/or achieve its stated objectives.

At this point, we feel the need to get FINACT incorporated as a legal entity and get on with business.  Currently, the Executive Committee is busy organising legal advice on the attached constitution and plans to incorporate FINACT soon after receiving the legal advice.  We will keep you posted on the progress, so watch  this space J…

Best regards

Amish Chaturvedi

Secretary

22 March 2011

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