ADFIAP Amends Governance Provisions in Charter

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With its aim to elaborate further the composition and term of office of the Board of Directors, the General Assembly during its 11th Extraordinary Meeting in Colombo, Sri Lanka, has approved the following amendments of Article 9 (on Management) of the ADFIAP Constitution:

9.1 The Association shall be managed by a Board of Directors consisting of not more than thirty (30) members to be elected from among the Ordinary Members of good standing. The Board of Directors shall appoint its officers – a Chairman, not more than three Vice-Chairmen, and a Treasurer. Starting 2007, the term of the Board officers shall be two (2) years, with re-election for another one term of office.

9.2 The Board of Directors shall appoint three (3) Independent Directors from among the non-voting members, i.e. Special, Sponsor and Associate, to sit in the Board as ex-officio members.

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