11th August 2011, 07:01 AM
There may be a case for discussing the merits of the merger between IfA and AAIS, but it is wrong to suggest that the IfA is in any way acting beyond its remit in allowing the merger to go ahead. The Articles of Memorandum of the IfA allow it (through approval by the elected IfA council):
(k) to establish, subsidise, promote, cooperate with, receive into union, become a member of, act as or appoint trustees to, act as or appoint agents or delegates for, control, manage, superintend, lend or give monetary assistance to, or otherwise assist any association and institution, incorporated or not incorporated, with charitable objects altogether or in part similar to those of the Institute, which shall prohibit the distribution of their income and property amongst their members to an extent at least as great as is imposed on the Institute by virtue of Clause 4 hereof
This is information made freely available on the IfA website. It all seems above board to me...
(k) to establish, subsidise, promote, cooperate with, receive into union, become a member of, act as or appoint trustees to, act as or appoint agents or delegates for, control, manage, superintend, lend or give monetary assistance to, or otherwise assist any association and institution, incorporated or not incorporated, with charitable objects altogether or in part similar to those of the Institute, which shall prohibit the distribution of their income and property amongst their members to an extent at least as great as is imposed on the Institute by virtue of Clause 4 hereof
This is information made freely available on the IfA website. It all seems above board to me...
With peace and consolation hath dismist, And calm of mind all passion spent...