Institute of Chartered Accountants of Bermuda Amendments to By-Laws 2010
INSTITUTE OF CHARTERED ACCOUNTANTS OF BERMUDA
AMENDMENTS TO BY-LAWS 2010



1





INSTITUTE OF CHARTERED ACCOUNTANTS OF BERMUDA

AMENDMENTS TO BY-LAWS 2010

BR 18/2010



The Institute of Chartered Accountants of Bermuda, in exercise

of the powers conferred on it by section 7 of the Institute of Chartered

Accountants of Bermuda Act 1973, makes the following amendments to

its By-Laws:

Citation

1 These By-Laws, which amend the Institute of Chartered

Accountants of Bermuda By-Laws 2006 (the “principal By-Laws”), may

be cited as the Institute of Chartered Accountants of Bermuda

Amendments to By-Laws 2010.

Amends By-Law 5(1)(a)

2 By-Law 5(1)(a) of the principal By-Laws is amended by deleting

the words “by-law 61” and replacing them with “the rules and

regulations made under by-law 53”.

Amends By-Law 18

3 By-Law 18 is amended by—

(a) repealing subsection (1) and replacing it with—

“(1) The affairs of the Institute shall be managed

and conducted by a Council consisting of not less than

eleven nor more than twenty individuals.”;

(b) repealing subsection (2) and replacing it with—

“(2) A representative of the Canadian Institute of

Chartered Accountants (the “CICA Representative”) shall

INSTITUTE OF CHARTERED ACCOUNTANTS OF BERMUDA
AMENDMENTS TO BY-LAWS 2010



2



be an honorary member ex officio of the Council and the

Institute, without fee. The CICA Representative shall be

deemed not to be a member of the Council for the

purposes of sections 4 and 5 of the Act and shall not

have the right to vote on decisions of the Council.”;

(c) in subsection (4) by deleting the word “eight” and

replacing it with the words “sixty per cent”;

(d) in sub-section (5) by deleting the words “the election of a

member by”;

(e) repealing subsection (6) and replacing it with—

“(6) No member of the Council may serve more than

six consecutive terms on the Council.”;

(f) in subsection (7) by adding next after the word

“remuneration” the words “, provided that any member

of the Council who is not a member of the Institute shall

receive such remuneration as shall be determined from

time to time by the Council.”; and

(g) by inserting next after subsection (7) a new subsection

(8) as follows—

“(8) Where there are less than two individuals who

are not members of the Institute serving as members of

the Council, the Council may co-opt up to two

individuals who are not members of the Institute to serve

as honorary members of the Council. Such honorary

members shall be deemed not to be members of the

Council for the purposes of sections 4 and 5 of the Act

and shall not have the right to vote on decisions of the

Council.”.



Made this 26th day of March, 2010



___________________________________________________

The Institute of Chartered Accountants of Bermuda