All members of the Fraud Advisory Panel are expected to behave with integrity and probity, and are required, as a condition of their continued membership, to act in conformity with the objects of the Panel. In addition, members must inform the directors immediately if any of the conditions listed below apply to them during the course of their membership.

A member will cease to be a member under the following conditions.

• On the expiry of at least seven days’ clear notice given by the member to the Panel of his, her or its intention to withdraw.
• If any subscription or other sum payable by the member to the Panel is not paid on the due date and remains unpaid seven days after notice is served by the Panel informing the member that he, she or it will be removed from membership if it is not paid. The directors may re-admit to membership any individual, unincorporated organisation or corporation removed from membership on this ground on payment of a reasonable sum as the directors may determine.
• If the member is convicted of any criminal offence, and the directors resolve that the conviction is inimical or harmful to continued membership.
• 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.
• 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 or harmful to continued membership.
• 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 or harmful to continued membership.
• If an individual member (including an individual who is a corporate member representing an unincorporated association or body) has a bankruptcy order made against him or her, or has an order made against him or her in individual insolvency proceedings in a jurisdiction other than England and Wales which have an effect similar to that of bankruptcy, or a composition is made with his or her creditors generally in satisfaction of his or her debts.
• If the member is a corporate member representing an unincorporated association or body and the unincorporated organisation has an order made or a resolution passed for its winding up or has an administrator appointed over all or any part of its assets, in each case other than for the purpose of a solvent reconstruction or amalgamation.
• If the member is a corporate member (being a corporation) and goes into liquidation, has an administrator or a receiver or an administrative receiver appointed over all or any part of its assets, or has an order made or a resolution passed for its winding up, in each case other than for the purpose of a solvent reconstruction or amalgamation.
• If an individual member dies.
• If an associate member ceases to satisfy the criteria for associate membership.
• If, at a meeting of the directors at which at least half of the directors are present, a resolution is passed resolving that the member be expelled on the ground that his, her or its continued membership is, or is likely to become, inimical or harmful to the interests of the Panel. Such a resolution may not be passed unless the member has been given at least 14 clear days’ notice in writing that the resolution is to be proposed, specifying 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 Panel any subscription or other sum owed by him, her or it.

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 objects, the Panel will be entitled to enforce the Code of Conduct by vetting applications through publicly available information and registers.

All members are required to disclose to the Panel details of any of the matters listed in the Code of Conduct 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 aims and objects, by endeavouring to enforce the refusal or cessation of membership where any of the matters listed in the Code of Conduct occurs in respect of a member or prospective member.

All members agree that the Panel shall not be liable in any way for any failure by a member to act in accordance with the Code of Conduct or any failure by the Panel to enforce the Code of Conduct.