Code of Conduct |
All members of the Fraud Advisory Panel are required, as a condition of their continued membership, to act in conformity with the objectives of the Panel. In addition, the member must inform the Directors immediately if any of the conditions listed below apply to them during the course of their membership.
A member shall cease to be a member: |
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On the expiry of at least seven days’ clear notice given by the member to the Company of the member’s intention to withdraw; |
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If any subscription or other sum payable by the member to the Company is not paid on the due date and remain unpaid seven days after notice is served on the member by the Company informing the member that the member will be removed from membership if it is not paid. The Directors may re-admit to membership any person removed from membership on this ground on the member paying such reasonable sum as the Directors may determine; |
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If the member becomes bankrupt or makes any arrangement or composition with creditors generally or goes into liquidation otherwise than for the purpose of a solvent reconstruction or amalgamation or has an administrator or a receiver or an administrative receiver (but not an administrative received appointed under Section 18 of the Charities Act 1993) appointed over all or any part of its assets or an order is made or a resolution passed for its winding up; or |
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If the member is the subject of any disqualification order under the Company Directors Disqualification Act 1986 or any statutory modification or re-enactment for the time being in force; or |
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If the member is convicted of any criminal offence, and the Directors resolve that the conviction is inimical to continued membership; or |
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If the member is the subject of any adverse finding by any professional or regulatory body, and the Directors resolve that the finding is inimical to continued membership; or |
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If the member is the subject of any adverse finding arising as a result of or in connection with the Financial Services and Markets Act 2000 or any statutory modification or re-enactment for the time being in force, and the Directors resolve that the finding is inimical to continued membership; or |
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If, in any other case, at a meeting of the Directors at which at least half of the Directors are present, a resolution is passed resolving that the continued membership of the member would be inimical to the best interests of the Company and that the member be expelled. |
| A resolution by the Directors as referred to above -shall not be passed unless the member has been given at least fourteen clear days’ notice in writing that the resolution is to be proposed, summarising the circumstances alleged to justify expulsion, and has been afforded a reasonable opportunity of being heard by or of making written representations to the Directors. A member expelled by such a resolution shall nevertheless remain liable to pay to the Company any subscription or other sum owed by him or her. |
Personal Waiver |
| The Fraud Advisory Panel is committed to the protection of life and property by the prevention, detection, investigation, prosecution and deterrence of fraud. In order to pursue these aims and objectives, the Panel will enforce the Code of Conduct set out above by vetting applications through publicly available information and registers. All members are required to disclose to the Panel details of any matters listed above both prior to their application for membership, and during any such membership. Such information will be used by the Fraud Advisory Panel to ensure that the integrity of the Panel is maintained, and that membership is consistent with the Panel's aim and objects. |
