Materials for General Assembly - 16/10/2023

 New legislation requires IA|BE as a professional organisation to become a non-profit organisation. This can be done by updating our Bylaws before year-end 2023. This requires a quorum of 50% of our members to vote, and a quotum of 75% of these voters to agree, as our current Bylaws demand.

The changes in the Bylaws we submit to your approval are minimal:

• In Dutch, we change "Bestuur" and "Huishoudelijk Reglement" into "Bestuursorgaan" and "Intern Reglement”; the law speaks about the “Zetel” and no longer about the “Maatschappelijke zetel”.
• In French, we change "Conseil" into "Organe d'Administration"
• In English, we maintain "Board" and "House Rules".

We updated Article 1, indicating the Insitute is now a non-profit organisation, but also giving some more historical information about our organisation since 1895. For practical reasons, the address of our legal seat is only mentioned in our House Rules and no longer in our Bylaws.

At the end of Article 2, we added a phrase, stressing the not-for-profit nature of our organization: “The Institute is selflessly committed to furthering this objective and does not seek direct or indirect financial gain for its members.”

In Article 6 and following, we lengthened the period for making information available to the members ahead of the General Assemblies from 2 weeks to 15 days, as required by law.

In Article 33 we summarize IA|BE is becoming a non-profit organization and is no longer subject to the former legislation: “When the current Bylaws come into effect, the Institute, as a professional association, assumes the legal form of a non-profit organisation, with all associated provisions and obligations as determined by the Belgian Code of Companies and Associations. As a result, the Institute as a professional association is no longer subject to the provisions of the law of 31 March 1898 on professional associations.” 

We also need to update our House Rules so that they perfectly match with our Bylaws. The same changes of wordings need to be implemented so that our Bylaws and House Rules are consistent.

The proposed changes to the House Rules offer the possibility for new members to become IA|BE Qualified Actuary already after one year, subject to the 4 specific conditions:

The member must

1. Have been a member of the Institute for at least 1 year
2. Have completed a training on (i) Communication and on (ii) IA|BE Professional Standards
3. Have successfully completed a test on the IA|BE Code of Professional Conduct
4. Have been mentored for at least 1 year by an IA|BE Qualified Actuary with at least 5 years of work experience and in collaboration with the mentor have drawn up a report of this and submitted it to the Accreditation Committee.

Members joining as of 1 January 2024 will be subject to the new rules.

The default is that also the members who joined between 1 January 2022 and 31 December 2023 will be subject to the new rules. Only if they wish to make use of the current rules, they should inform the Accreditation Committee of their choice in writing before 31 January 2024.

For the other members the general conditions to gain, renew or regain the qualification of IA|BE Qualified Actuary remain unchanged:

1. at least 60 CPD points acquired within the prevailing 3-year CPD period;
2. the test in which the knowledge regarding the Code of Professional Conduct is tested is successfully undertaken within the prevailing 3-year CPD period.

Documents

• 0_2023 1016 IABE Jean Deboutte.pdf
• 0_2023 1016 IABE JoCo.pdf
• 0_2023 1016 IABE main deck.pdf
• 2023 1016 IABE Draft Bylaws EN.pdf
• 2023 1016 IABE Draft Bylaws FR.pdf
• 2023 1016 IABE Draft Bylaws NL.pdf
• 2023 1016 IABE Draft House Rules EN.pdf
• 2023 1016 IABE Draft House Rules FR .pdf
• 2023 1016 IABE Draft House Rules NL.pdf