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The Financial Planning Institute of Southern Africa _Incorporated

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					Version 1
Created on Monday, 13 July 2009
Regulation for International Affairs Committee
 
 
ATTACHMENT 12

                     The Financial Planning Institute of Southern Africa
                              (Incorporated under section 21)


                           International Affairs Committee Regulations


1. CONSTITUTION
   The Financial Planning Institute of Southern Africa (“Institute”) International Affairs
   Committee (“Committee”) has been established by the Board of Directors (the
   Board) in pursuance of the powers granted to it by the Articles of Association of the
   institute to act in the capacity of an International Affairs Committee in respect of the
   Institute and thereby assisting the Board with regards to matters set out below.

2. OBJECTIVES OF THE COMMITTEE
   The Committee is established to assist the Board in discharging its duties and
   responsibilities relating to the Institute’s relationship with the Financial Planning
   Standards Board.


3. MEMBERSHIP
   3.1. Composition
        3.1.1 Consist of at least four directors of which the Chairperson of the
              Board, Vice Chairperson of the Board, the CEO and at least one
              additional non-executive director shall serve as appointed by the
              board.
        3.1.2 The Chairperson of the Board shall be the Chairperson of the
              Committee.

        3.2 Termination
             3.2.1 The Board shall have the power at any time to remove any member
                   from the Committee and to filll any vacancies created by such
                   removal.
             3.2.2 The Chairperson and the Committee members will hold power for one
                   year and the Board will appoint or re-appoint members at the first
                   board meeting held after the Annual General Meeting.
             3.2.3 Notwithstanding the provisions of 3.2.2, serving members of the
                   Committee will continue to hold office until the Board has appointed a
                   new committee

4. MEETINGS

      4.1        The Committee shall meet at least 4 times a year, or more frequently as
                 circumstances dictate. The dates shall be determined at the first meeting of
                 the Committee following the annual AGM and communicated to all relevant
                 parties. Should this for any reason not be possible or an adhoc meeting is
                 called by the Chairperson of this Committee for any reason, proper notice
                 which will comply with all other requirements as for a Board meeting, shall be
                 given to all members of the Committee at least 14 (fourteen) days prior to the
                 meeting.



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Version 1
Created on Monday, 13 July 2009
Regulation for International Affairs Committee
 
 
      4.2        The quorum for meetings shall be any three Committee members.
      4.3        Meetings should be held prior to Board meetings and correspond with major
                 phases of the financial reporting cycle of the Institute.
      4.4        The Committee may invite other relevant persons to attend and to be heard
                 at meetings of the Committee.
      4.5        No invited attendee shall have a vote at meetings of the Committee.
      4.6        The Chairperson of the Committee shall draw up an agenda, or shall cause
                 to be drawn up an agenda, which shall be circulated with supporting
                 document, at least one week prior to each meeting to the members of the
                 committee and the invited attendees.
      4.7        The quorum for decisions of the Committee shall be any two members of the
                 Committee present through the meeting of the Committee.
      4.8        The minutes of all meetings of the Committee, or summaries thereof, shall be
                 submitted to the Board at the immediate following Board meeting, the agenda
                 for each such Board meeting shall provide an opportunity for the Chairperson
                 of the Committee to report orally on any matters of importance as well as on
                 the Committee’s findings and any recommended actions.


5. RESPONSIBILITIES & DUTIES OF THE COMMITTEE

      The Committee must assist the Board in assuming the following responsibilities and
      duties:

      5.1       Ensuring that all FPI obligations toward the Financial Planning Standards
                Board (FPSB) are met by the FPI executive or board, as the case may be.

      5.2        Advise the Board on FPSB related matters

      5.3        Coordinate feedback on FPSB draft documents from and to the Board and/or
                 Board sub-committees



6. REPORTING AND ACCOUNTABILITY

      6.1        The Chairperson of the Committee shall account to the Board for its activities
                 and make recommendations to the Board. Once the Board has approved the
                 recommendations made, the Committee will remain responsible for the
                 implementation of all recommendations made to the Board.

      6.2        The Committee, in carrying out its duties under these terms of reference, will
                 have due regard for the principles of governance and code of best practice as
                 contained in the King Report on Corporate Governance for South Africa 2002
                 as well as the Articles of Association and various approved Regulations of
                 the Institute.




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Version 1
Created on Monday, 13 July 2009
Regulation for International Affairs Committee
 
 
7. GENERAL

      7.1        The Committee, in carrying out its tasks under these terms of reference, may
                 obtain such outside or other independent professional advice as it considers
                 necessary to carry out its duties.

      7.3        These terms of reference may be amended as required, subject to the
                 approval of the Board.




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