IACCibaalumni.ca/toronto/wp-content/uploads/2017/11/IACC...•IACC (IBA Alumni Canada Chapter ) was initiated in 2011 in collaboration with IBA Karachi. •4 Pillars with custodians

IACC

PAST HISTORY

• IACC (IBA Alumni Canada Chapter ) was initiated in 2011 in collaboration with IBA Karachi.

• 4 Pillars with custodians were established:• Lead

• Give

• Social

• Chapter

• There was an existing constitution that was weak and had clauses that were not in line with the proper running of an association.

• The ‘constitution’ was never approved by the general body of alumni through an AGM.

• Thus the Chapter existed without an approved constitution.

• The Chapter ran into problems because of low involvement and internal conflict.

• The purpose was to make it more robust and make the alumni running it more accountable.

• The following helped in this task:• Qasim Rabbani

• Etrat Rizvi

• Mohammad Ali Dairywala

• Price Committee

• Volunteer Committee

• Social Media Committee

IBA Alumni Chapter CanadaREVISED CONSTITUTION 2017

VISION STATEMENT

• Our Vision is to provide a platform in Canada that facilitates integration among the IBA Karachi alumni residing in Canada, to enhance professional growth, expand opportunity for social networking and provide avenues to give back to IBA Karachi.

MISSION STATEMENT

• Our Mission is to bring alumni residing in Canada together via regular professional and social events, maintain and continuously update digital presence of alumni network, and facilitate interaction between Canadian alumni and other IBA entities across the world. We also want to promote interaction among the alumni and IBA, including potential areas of fund raising, curriculum development and arranging visits of alumni to IBA-Karachi as advisors and mentors. We aim to get IBA alum recognized as a premier brand of business leaders in Canada.

Article 1: By-Laws of the Association

A. Adoption

• These By-Laws will be adopted immediately following their approval by the Board of Directors of the Institute of Business Administration (IBA) Alumni Canada Chapter.

B. Amendments

• The Board of Directors may amend these By-Laws by a two-third majority of the Board and send the approved amendments to all members of the Association.

Article -1a: Identity

A. Name of the Association

• This organization shall be known as the Institute of Business Administration (IBA) Alumni Canada Chapter, hereafter also referred to as the ‘IACC’.

B. Domicile of the Association

• The IACC will maintain its principle place of operations in Ontario, Canada.

• The Domicile may be changed by a majority vote of the Board of Directors to be ratified by the AGM.

Article-2 : Purpose

A. Purpose of the IACC

• To create links and contacts between IBA Karachi and its Alumni in Canada-and other jurisdictions;

• To promote fellowship among the members of the association and their families ;

• To promote mutually beneficial contacts between IBA students and Alumni;

• To support student activities to supplement and diversify educational experiences available at IBA;

• To facilitate students and Alumni based in other countries in migrating to equal or better levels in their fields in Canada;

• To promote the identity and image of IBA in both Canada and internationally;

• To encourage and assist in the development of regional Chapters;

• To support the quality of education and welfare of IBA Karachi;

• To assist IBA Karachi in obtaining human and financial resources necessary to fulfill its mission.

• To hold regular discussion sessions on issues faced by the members in Canada;

• To incorporate the association as not-for- profit entity with the relevant authority as approved by majority of members present in person or through validly executed proxies

Article 3: Membership

A. Membership Eligibility

• Any individual who graduated from IBA Karachi (completed any degree/diploma program) is eligible to become a member of the Association.

MEMBERSHIP

• There will be 3 tier of memberships for this body.

• Each tier will have different privileges as per their membership.

• Without holding any tier membership, the alumni will not be allowed to take part in the election process.

B. Membership Process

• Eligible individuals may become registered members of the Association by submitting completed application form for membership.

• The initial membership fee is fixed at 3 levels:

• Life

• Platinum

• Basic

PRIVILEGES

• LIFE MEMBERS ( CAD 1000.00)

• A) Eligible for nomination to Advisory Council

• B) Eligible to vote

• C) Free entrance to all IACC events

• D) 50% OFF on all sponsorship tariffs at IACC events

• D) 50% OFF on all event tickets for wife & children

PRIVILEGES

• PLATINUM MEMBERS (CAD 150/Yr or CAD 500 for 4 Years)

• A) Eligible for standing in IACC elections

• B) Eligible to vote

• C) 25% OFF on all sponsorship tariffs at IACC events

• D) 25% OFF on all event tickets for self, wife & children

PRIVILEGES

• BASIC MEMBERS ( CAD 25/Yearly)

• A) Eligible to vote

Article 3: Advisory Council

• A. To ensure continuity, provide strategic and policy guidance, there shall be an Advisory Council comprising 5-7 senior IBA graduates with at least 25 Years of work experience with 15 years in a Leadership role.

• B The Advisory Council will be made up of alumni who are Life Members and are chosen for the Advisory Council.

• C. The tenure of the Advisory Council Members will be for 4 years.


• D. The first Advisory Council will be nominated from the Life Members by the Administrator in consultation with Senior graduates who are willing to give time and resources.

• E. Two Council members will relinquish the office every two years, and new Life members who apply would replace them. (The 2 most seniors in terms of age would leave )

• F. Subsequent nominations will be made by the remaining members of Advisory Council and the Board with a consensus from the list of Life members.


• G. The Advisory Council will neither participate nor interfere in day to day affairs of the association which will remain an exclusive domain of the board.

• H. The Advisory Council Members cannot hold or run for any position on the Board.

• I. The Advisory Council will provide strategic direction to the appointed Board.

• J. The Advisory Council will call for an AGM, if they think that the Board is not adhering to IACC mandate.

Article 4: Board of Directors

• Members of the Board of Directors

• The Board of Directors (Board) of the IACC shall consist of at least seven Directors who will be elected from amongst the members of the IACC having good standing.

• The general body may increase the number of board members.


• The number of directors will always be on the odd, in order to obtain a majority vote for any decision or resolution passed. In case of tie the President will have casting vote.

• The Board of Directors Shall lay before the members in general body meeting audited financial statements before the expiry of four months after the close of fiscal year.


• Term of Office of the Board

• The term of office of each Director shall be two years. The term of office shall begin on the first day of the year.

• To contest election, the candidate, the proposer and the seconder must all be in good standing having paid all dues payable to the association.

• No previous office bearer/ director can contest the election again.


• Election of Directors

• Once every two years, seven Directors shall be elected by a majority vote of the registered members, in good standing. Once elected, the 7 directors would elect a President, Secretary and a Treasurer from amongst themselves.

• In case of dispute in election between the 7 Directors, the matter will be handled by the Advisory Council.


• Powers of the Board

• The Board is vested with powers to run the IACC and take any decision to further its purpose and mandate.

• The Board will decide and implement its operating and decision-making processes.

• The Board can seek advice from the Advisory Council on all policy, directional and strategic matters.

Article 5: Operations of the Board

• Operations of the Board• The Board shall hold meetings at least once a quarter. The Board can

convene additional meeting(s) as deemed fit. • The meeting will be called formally by the President, or by any director,

with a formal agenda, suggested date and suggested venue. • All directors are bound to acknowledge the formal meeting call by

accepting, declining or tentatively accepting to attend the meeting. In case any director has inadvertently missed the meeting invite and does not acknowledge, then that will be considered as a decline.

• A director may formally propose a different time and venue for the meeting, and may also formally propose an addition or change in agenda to be discussed.


• The minimum quorum for a meeting shall be four, and in case the minimum quorum is not met due to any reason, the meeting shall be scheduled on the same date and time next week..

• All matters relating to the Association will be discussed and decided by the Board.

• Decisions will be accepted through a majority vote. The president will have a casting vote in case of tie.

• The President will conduct the proceedings of the Board.

• The Secretary will record, publish and archive both soft and hard copies of the minutes of each meeting.


• Vacancies on the Board

• If any Director resigns or is removed from office, the President may nominate a member to fill the vacant position of the Board and this individual will become a Director upon a majority vote of the Board of Directors for the remainder term. The removal will require assent from the Advisory Council.

Article 6: Office Bearers of the IACC

• Officers of the IACC• The Officers of the IACC shall be the Chair/President, Secretary, and

Treasurer.

• Election of Officers• The President, Treasurer and Secretary shall be elected directly by the 7

elected Directors.

• Term of Office of Officers• The term of office for each Officer shall be two years and shall run

concurrently with the term of the Board. The term of office shall preferably begin on the first day of January for a period of two years.


• Powers of the Officers

• The Officers are vested with the powers appropriate to their elected office to accomplish the tasks necessary for the successful, day-to-day operations of the Association.

• The President shall facilitate all decisions concerning the Association’s day-to-day operations and also facilitate the activities of the Secretary, Treasurer, other directors and various Committee Chairs (if and when such Committees are formed). The President will also act as the Chair of the Board of Directors.


• The Secretary shall assist the President and perform the duties of the President if the President is not available. The Secretary will be the custodian of the Association’s business records, filing any returns with the relevant authorities as and when required, calling the meetings of the elected Officers and/or Directors whenever required, maintaining the minutes of the meetings and keeping record of all the documents produced by the Officers and the Board of Directors.

• The Treasurer shall be responsible for the financial operations of the Association including book-keeping, banking, taxation, cost control, financial transactions, quotations from vendors, and any other financial matters.

Article 6: Office Bearers of the Board

• Resignation & Removal of Officers

• Any Officer may resign by tendering a letter of resignation to the president of the Board, and copying to all the Board members.

• Any Officer, irrespective of title, who fails to perform the duties of the office to which the individual has been elected may be removed from the office by a two-thirds vote of the Board of Directors with the approval of the Advisory Council which shall accord its decision within 10 working days.


• Any officer who is deemed for removal has to be provided with sufficient reasons for removal in writing, and these reasons have to be shared in a transparent manner between all the directors.

• A formal meeting with complete forum needs to be called for the removal of an officer along with the subject officer, and reasons for removal to be thoroughly discussed among the Board members in a transparent manner.


• If the Board decides to remove the officer by a two-thirds majority, which would include the vote of the officer to be removed, then that officer should be first asked to resign, and on refusal be removed from the Board. The removed officer should surrender all documents, accounts, other control instruments such as a chequebook, and any other miscellaneous items to the Board.


• Vacancies in Offices

• If the President resigns or is removed from office, the Secretary will assume the role of the President for the remainder period.

• If the Secretary ,or Treasurer or any other Board member resigns or is removed from office, the President will nominate another Board member to fill the vacant office for the balance of the existing term with minimum two-thirds consent of other board directors.


• Conflict Resolution

• In case of a serious conflict within the Board which cannot be decided by the majority of the Board and leads to a power struggle or a divided Board, the matter will be referred to the Advisory Council..

• The Advisory Council will hear both sides of the story with documented proof, and will also call a formal face to face meeting to hear both sides of the story.


• On the basis of information provided by conflicting board members, reviewing all supporting documents and keeping in view the Bye-laws, the Advisory Council will then decide and pass judgement on the case, which will be binding on the Board members to accept.

• All proceedings of this process will be conducted in a manner transparent to all registered members.

Article 7: Committees

• Establishing and Managing Committees

• The Board may, as required from time to time, form committees or Administrator to manage elections, reunions, social activities, and publications.

• The mandate, composition and term of such committees will be decided by the Board.

• The Board will exercise oversight over the committees. Members of such committees will be nominated by the Board from amongst themselves and/or from the members of the Association.

Article 8: IACC Elections

• Elections

• The Board may appoint an independent Election Officer from amongst the members of the IACC who is willing and capable of carrying out the election process.

• The Election Officer will devise and conduct the elections, verify results of the returned ballots, and announce the results of the election.

• The Board will provide support to the Election Officer to carry out his/her functions.

Article 9: IACC Operations

• Registry

• The IACC will maintain a registry of all alumni/members of IBA graduates in Canada. This registry will include, at a minimum, the names, addresses, telephone numbers, e-mail addresses and membership status. The IACC will also publish annually a directory containing a summary of information in the registry. This directory will be posted on the official Association web site in a password-protected area.


• Newsletter

• The IACC will publish newsletter from time to time with information provided directly by members, Officers, Directors or Committee Members. The newsletter will be e-mailed to all Association members. Operating procedures for the Newsletter will be developed by the Committee (to be formed by the Board) and approved by the Board of Directors.


• Reunions

• The IACC will, from time to time, host reunions to which all alumni members in Canada will be invited.

• The Board will propose reunion in its annual program and approve budgets and plans for the reunion.

• The Board may form a Committee, as envisaged in Article 6, to manage such events.

• The Board may collect fees from members who attend such reunions and the fees will be a revenue source for the Association.

• The IACC may invite alumni from other countries also as guests.

Article 10 : Fiscal Policy

• Fiscal Year

• The fiscal year of the IACC shall January 1 to December 31.

• Bank Account

• The Board will open and operate a bank account in the name of IACC through which all receipts and payments will be channeled. The office bearers namely President, Secretary and the Treasurer will be signing authority and all instruments will be signed by any two of the three signatories.


• If at any time the amount of any of the above instruments is greater than CAD 1,000, the President and either the Secretary or Treasurer shall be one of the signatories. The Treasurer will be the custodian of all documents for such bank account.

• The above terms will be also be tied to a memo in the bank account, so that the bank does not allow the transaction in case it goes against the terms of the memo.


• Program Budget

• At the start of each fiscal year, the President will provide a Program Budget to the Board.

• The Budget will include a projected income and expense statement, a narrative on the expected levels of revenue and expenses, activities to be undertaken and their projected cost.

• The Board will have 30 days from the date of the President's submission to review and approve the Budget.

• The Board may restructure and resubmit items that the Board does not approve.


• Revenue/Inflows

• The IACC shall raise funds through social events and endeavor to have surplus amount from these events and such surplus will become a part of the reserves of the Association.

• The IACC may accept donations and sponsorship to raise funds for its objectives.


• Expense/Outflows

• The Board will approve all expenses and payouts related to the operations of the Association.

• Officers, Directors and Committee Members shall receive no compensation for their services.


• Financial Report

• Within 30 days of the end of each fiscal year, the Treasurer shall prepare financial statements, which shall include a Balance Sheet, Income and Expense Statement, Notes and Budget Comparisons.

• The President and the Treasurer will present the President's Financial Review and the financial statements to the Board of Directors within 60 days of the end of the fiscal year.


• The Board of Directors shall review and approve the Financial Review Report. If the financial statements have not been audited or reviewed by an independent public accountant, the Board may direct that such an audit or review be performed if they deem it necessary.

• Upon approval by the Board, the President's Financial Review Report shall be laid before the IACC members in the annual general body meeting. The notice of the meeting along with the audited accounts will be mailed to members at least 21 clear days before the meeting.

Article 10: General Provision

• Contracts

• Any contract or instrument executed in the name of the IACC must be approved by the Board and signed by the President and another Officer of the Association.


• Indemnification

• In discharging their duties, the Directors, Officers, and various Committee Members of the IACC shall be indemnified by the Association for judgments and fines (whether civil, criminal, administrative or investigative) for any of the above enumerated matters, as well as reasonable expenses for each, including attorney’s fees actually and necessarily incurred as a result of such action or proceeding, if such Director, Officer or Committee Member acted in good faith, for a purpose which he or she reasonably believed to be in the best interests of the IACC , but had no reasonable cause to believe that his or her conduct was unlawful.


• Gifts

• The Board of Directors may accept on behalf of the IACC any contribution, gift, bequest or devise for the general purpose of or for any special purpose of the IACC.

Article 11: Linkage with Institute of Business Administration (IBA)

• Communication

• The President will mostly lead any communication with officials of Institute of Business Administration (IBA) related to IACC with full knowledge and consent of the Board/ Advisory Council .

Article 12: Government and Legal Matters

• Service Ontario

• Only the President will submit request for change in names of Board of Directors or changes in status of the IACC. This will be done with full knowledge of all directors and consent obtained from the majority as well as the Advisory council.

Article 12: Government and Legal Matters

• Dealings with government and non-government officials

• All directors will strive on their own as well as collectively to pursue and develop relationships with the both government and important non-government officials like faculty members of different educational institutions, corporate professional and staff members of different consulates in order to provide a broad networking platform to be utilized by IACC members. They will also deal with taxation accountants and lawyers for any financial or legal requirements that may arise. All dealings must be totally transparent to all directors.

Article 13: Dissolution

• Approval

• The Board of Directors must approve a motion to dissolve the IACC by a two-thirds majority vote and then send the approved motion, after obtaining the assent of the Advisory Council to the registered membership for ratification. A formal general body meeting will be called and all registered members of the IACC will be invited to discuss the reasons for Dissolution of the IACC.

Article 13: Dissolution

• Dissolution will be approved if two-third of the registered members present in person or proxies agree and are willing to sign on the ratification. The quorum for This Extra ordinary general body meeting will be minimum of 50 members present in person.

• Implementation

• Once dissolution has been approved, all liabilities and obligations of the IACC will be discharged or adequate provision to discharge them will be made. Any remaining assets will be distributed to any Association or Associations that the Board of Directors/ Advisory Council determine to be consistent with the Association’s purpose as set for the in above and with applicable provisions of law.

Documents

IACCibaalumni.ca/toronto/wp-content/uploads/2017/11/IACC...•IACC (IBA Alumni Canada Chapter ) was initiated in 2011 in collaboration with IBA Karachi. •4 Pillars with custodians