CONSTITUTION
THE JERSEY COMPLIANCE OFFICERS ASSOCIATION
NAME
The name of the Association is The Jersey Compliance Officers Association.
AIMS AND OBJECTIVES
The Aims and Objectives of the Association are:
(a) to provide a forum for discussion of compliance issues;
(b) to provide information and other services to its members;
(c) to represent the views, and where necessary negotiate on behalf of, members in dealing with official and other bodies; and
(d) to encourage co-operation between members of the Association and to stimulate the interest and participation of members in matters of a compliance related nature.
MEMBERSHIP
There are two categories of membership of the Association, 'Corporate' and 'Standard'.
Corporate Membership is open to firms and groups whose business is related to financial services business in Jersey or to individuals who wish to join as a sole member without being affiliated to a corporate member. (The sole member must pay the corporate fee).
Each Corporate member must nominate one individual to represent them and vote on their behalf.
A Corporate member may not publicly advertise itself as a member of the Association.
A Standard member is an employee of a Corporate member and is affiliated to the corporate membership. Standard membership is not transferable to another firm should the individual change employment, a new application will be required and a fee will be payable on the new application.
Applications for membership must be made to the Membership Secretary of the Association and will be considered, approved or rejected by the Committee of the Association (in its absolute discretion, whose decision shall be final).
The Committee shall have the power to refuse to renew the membership of any Corporate or standard member whose activities or conduct are, in its opinion, inconsistent with the objects of the Association.
The Committee shall have the power to revoke membership of any Corporate or Standard member whose activities or conduct are, in its opinion, inconsistent with the objects of the Association, at any time and without notice to the member.
The Committee shall not be obliged to disclose its reasons for any decision made in relation to the granting or refusal of membership.
SUBSCRIPTION AND EXPENSES
A subscription of an amount as shall be fixed by the Committee from time to time, will be payable on admission to membership and on the 1st February in each subsequent year. Changes in the annual subscription may be made from time to time with the approval of the members in General Meeting.
The expenses of the Association shall be met by subscriptions or from other sources not leading to a charge on the Association.
GENERAL MEETINGS
An Annual General Meeting (AGM) of members shall be held at least once in every calendar year and not later than 15 months after the previous AGM. General meetings of members may be held in addition to the AGM and shall be convened by the Chairman or on application to the Secretary, of at least 10 members of the Association of 21 days notice. No business shall be transacted at a General meeting unless a quorum is present at the time when the meeting proceeds to business. For this purpose, a quorum of a general meeting will be 10% of the voting membership.
Each member present in person or by proxy shall be entitled to one vote at general meetings provided always that any company or organisation employing more than one member shall be entitled to one vote only. All decisions shall be made by simple majority. In the event of an equality of votes, the Chairman of the meeting shall have a casting vote.
Nominations for committee members to be elected at an AGM must be received by the Secretary no later than two weeks prior to the AGM and must be signed in each case by the proposer, seconder and the nominee.
Should more Committee members be nominated than there be vacancies available, the resultant election shall be decided by a vote of members present at the meeting.
COMMITTEE
The affairs of the Association shall be managed by a committee not exceeding ten in number the officers of which will comprise the Chairman, Deputy Chairman, Secretary and Treasurer and such other officers as the members of the Association may decide. The Chairman and Deputy Chairman shall not be persons from the same company or business or organisation.
With the exception of the Chairman, committee members may offer themselves for re-election every 2 years. The Chairman shall retire after a maximum of 2 years and may not serve a further term of office as Chairman, for at least 2 years. The Deputy Chairman will assume the appointment of Chairman on vacation of the latter’s tenure, subject to the approval of a general meeting.
The committee may at its discretion co-opt additional members and establish sub-committees for specific periods or duties.
The committee shall meet at least quarterly and its quorum shall be four, for the execution of business. The Chairman shall have a casting vote in the event of no clear majority.
AMENDMENTS TO CONSTITUTION
No additions to or alterations to this Constitution shall be made other than at an Annual General Meeting or at a Extraordinary General Meeting called for that purpose.
Any members wishing to propose such alterations or additions must send the proposal, duly seconded, in writing to the Secretary for submission to the Committee. The Committee shall, if possible, bring the proposals before the next Annual General Meeting or, if it thinks it desirable, may convene an Extraordinary General Meeting.
Approved by members at the Annual General Meeting held 11th January 2011