Regulations setting out how much a member must pay; and information for retired members and those applying for life membership.
Effective from 1 January 2018.
These regulations were made by the Council under Bye-law 49(a).
Words and expressions defined in the bye-laws have the same meanings in these regulations:
The following definitions are relevant to these regulations
admission fee means the fee for admission to membership.
annual subscription means the subscription payable by a member from time to time.
applicant means a member of the Institute applying for a waiver, reduction, remission or refund of a fee or subscription.
application means an application to the Members' Registrar for a waiver, reduction, remission or refund of a fee or subscription.
designated countries means countries which are known to the Members' Registrar as having Exchange Control regulations with delays of three or more months before release of funds or which otherwise prevent payment of the annual subscription.
half rate means half of the annual subscription which would normally be payable by a member.
income means all income of the applicant, whether earned or unearned, from all sources except that, for the purposes of calculating such income all pensions and State Benefits shall not be taken into account.
life membership fee means the fee payable by an applicant seeking life membership.
low rate means the rate of reduced subscription payable by an applicant granted such a reduction.
the members' registrar means the person of that title appointed by the chief executive.
Reduced subscriptions shall be authorised in accordance with this regulation. The rate payable shall be calculated as follows:
|5||Applications must be received by the Members' Registrar before 31 March in the year to which the subscription applies but no application shall be considered in respect of previous years.|
Applications are invited from any member whose status on 1 January in any year is covered by one of the categories below;
Applications are invited from any member who has attained the age of 60 years and whose status on 1 January in any year is that they are retired from all remunerated business and professional activities and do not hold a current practicing certificate.
Retired members shall pay the half rate.
Applications must be received by the Members’ Registrar before 31 March in the year to which the subscription applies but no application shall be considered in respect of previous years.
Life membership shall be granted in accordance with one of the following conditions:
The life membership fee shall be one and a half times the 2019 full rate annual subscription fee payable by a member.
Applications are invited by the members’ registrar before 31 March in the year to which the subscription applies but no application shall be considered in respect of previous years.
It shall be the responsibility of the applicant to ensure that his application is supported by documentation in a form prescribed from time to time by the Members' Registrar, the cost of which shall be met by the applicant.
The Members' Registrar may defer the period within which payment of the annual subscription or other fees must be made as follows:
|15||A member who applies for a practising certificate shall be exempt from the requirement to pay the practising certificate fee if at the date of the application he has not held a practising certificate at any time during the three preceding years and he certifies that he intends to practise as a sole practitioner, or as the sole director and sole shareholder of a limited company. Such exemption will be given on the initial application and at the first renewal of the practising certificate provided that at the date of renewal the member remains in practice as a sole practitioner or as the sole director and sole shareholder of a limited company.|
|16||Where a member applies for a practising certificate and is able to give the certification referred to in Regulation 9 but he has held a practising certificate at some point in the preceding three years, the Members' Registrar may grant the exemption under Regulation 9 from the need to pay the practising certificate fee if he is satisfied that the member has not previously benefited from such an exemption and that in all circumstances it would be just and equitable to do so.|
|17||Any member aggrieved at any determination by the Members' Registrar under these regulations shall have a right of appeal to the treasurer or a person nominated by the treasurer provided that he gives the Members' Registrar written notice of his intention to appeal within 28 days of receiving such notification.|
|18||On hearing an appeal the treasurer or a person nominated by the treasurer shall have power on the basis of written representation from the applicant to make whatever determinations in accordance with these regulations he sees fit.|