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OBJECTS
NAME
The name of the Institute shall be “THE INSTITUTE OF BUILDERS’ MERCHANTS”
DEFINITIONS
In these Objects and in the Rules so far as the subject or context admits:
(a) “The Institute” means The Institute of Builders’ Merchants.
(b) “Builders Merchants” shall be deemed to include Plumbers and Timber Merchants.
(c) “Industry” means the Builders’ Merchants’ industry.
(d) “Governors and Liaison Governors” means Governors of the Institute.
(e) “BMF” means the Builders Merchants Federation.
(f) “The Company” means The Worshipful Company of Builders’ Merchants.
(g) “Corporate Sponsor” means such business whose financial support is accepted by the Institute and isereby qualified to nominate such Corporate Members as may be permitted by the Governors.
(h) The “financial year” of the Institute commences on the 1st day of October.
(i) “Members” includes a member of any Class,
(j) “Main Objects” means Objects 1 to 6 inclusive which may be referred to as such by the Institute without such reference affecting the validity or importance of any or all of the Objects
(k) “Rules” means the Rules of the Institute from time to time in force made pursuant to Object 10.
(l) Where the male gender is used the female gender equally applies.
OBJECTS
The objects for which the Institute is established are:
1. To promote and develop the Knowledge, Integrity and Efficiency of all persons engaged in or about to engage in the career of a builders merchant.
2. To promote the highest possible standards in the manufacture, sale and distribution of building materials and the provision of servicesin connection therewith.
3. To promote and improve good and sound business practice in which members are engaged.
4. To provide for the delivery of lectures and the holding of classes to improve and maintain the competence and knowledge of persons engaged in or about to engage in the career of a builders’ merchant including a continuing professional development programme.
5. To establish and award scholarships, bursaries and studentships, to make grants and other payments toward the fees and expenses incurred by students and members in the attainment and improvement of education, knowledge and experience in the builders merchants industry.
6. To award diplomas, certificates and other distinctions (whether gained by examination or otherwise) and to collaborate with any government department, educational or professional board, body or trade association in furtherance of all or any of the Objects of the Institute.
7. To encourage and undertake research and invention, to investigate and publish the nature and merits of any research or invention which may seem capable of being used adopted or applied by persons engaged in the building industry.
8. To establish, promote or support educational courses, professorial chairs or lectureships (whether or not controlled by the Institute) in connection with any University, College, Institute or course of instruction or otherwise.
9. To establish and maintain or collaborate in establishing and maintaining a library and collection of literature, data-bases, statistics and information relating to the manufacture, transport, storage, handling, use or application of building materials and components and the organisation and management of offices and systems of accounting and other matters concerned with the administration of the business in which the members are engaged.
10. To make, promote and publish as required Standing Orders, Rules and Regulations which may be deemed desirable or convenient for the administrative efficiency of the Institute, its governing body, or any committee, for the conduct of, qualifications for entry into, any apprenticeship, course of study, examination set by, sponsored or supported by the Institute in relation to any other authorised activity of the Institute.
11. To borrow any moneys required for the purposes of the Institute upon such terms and on such security as may be determined by the Governors.
12. To purchase, take on lease, exchange, hire or otherwise acquire any real and personal property, and any rights or privileges necessary or convenient for the purposes of the Institute. To construct, alter, and maintain any buildings required for the purposes of the Institute.
13. To sell, improve, manage, develop, lease, mortgage, charge, dispose of, turn to account or otherwise deal with all or any part of the property of the Institute as may be thought expedient.
14. To invest the monies of the Institute not immediately required for its purposes in such investments, securities or property (including land of any tenure, mortgages or charges thereon) as may be thought fit.
15. To retain, or from time to time employ, skilled, professional technical advisers and other employees in connection with or for the purpose of carrying into effect the Objects of the Institute, and to pay for their services such fees or remuneration as may be considered beneficial.
16. To admit any persons (whether eligible or not eligible for ordinary(membership) to honorary membership of the Institute upon such terms and with such rights and privileges as may be considered appropriate.
17. To establish Branches and other local bodies consisting of members of the Institute in any part of the world and to confer upon any such Branches or local bodies such powers, authorities and discretions (including power to appoint an approved person to act in an administrative capacity) as may be decided, and, in the furtherance of the objects of the Institute, to delegate to any Branch or other local body such powers and authorities as may be considered necessary and to revoke, modify or revise any such powers, authorities and discretions from time to time.
18. To indemnify any Governor, officer, member employee, servant or agent of the Institute or any other person firm or company from and against all actions damages proceedings, costs and expenses of whatsoever nature or kind arising from any act or omission connected with the conduct of the business of the Institute or its property.
19. The income and property of the Institute, howsoever derived, shall be applied solely towards the promotion of all or any of these objects and no part thereof shall be paid or transferred directly or indirectly by way of dividend or bonus, or otherwise howsoever, by way of profit to the members of the Institute, provided that nothing herein contained shall prevent the payment in good faith of remuneration including any bonus to any officers or servants of the Institute, or to any member thereof, or other person in return for any services actually rendered to the Institute, nor the payment of interest at a rate not exceeding two per cent per annum above the base rate of the Institute’s banker for the time being in force on any money borrowed from any member of the Institute for the purposes thereof, nor exclude any member from any donation, advance, or benefit made or conferred in accordance with any of the Objects of the Institute.
20. If upon the dissolution of the Institute otherwise than for the purposes of the next succeeding Object there remains after the satisfaction of all its debts and liabilities any property whatsoever, the same shall not be paid to or distributed amongst the members of the Institute but shall be given or transferred to some other Institution or Institutions having objects similar to the objects of the Institute, or some charitable Institution connected with the Builders Merchants’ industry, or with the building industry, to be determined by a resolution passed in accordance with Object 22 hereof and in default of the passing of such a resolution then as determined by the High Court of Justice.
21. To promote or collaborate in the promotion of the incorporation of a company having its liability limited by shares or limited by guarantee; or of a company or body constituted by Charter or by Act of Parliament having objects similar to or compatible with the Objects of the Institute and such other objects as may be considered desirable or necessary and to dispose of the undertaking or property of the Institute to such company or body or to any other company or body having such objects as stated above.
22. To do all such other things as may be lawful and necessary or advantageous to the attainment of the above Objects or any of them.
23. These Objects may be altered, repealed or added to by a resolution passed by three-fourths of the members of the Institute entitled to vote present in person or by proxy at a Special General Meeting convened for that purpose of which notice has been served in accordance with Rule 5.
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