Insurance Institute of Zambia
Insurance, The Silent Pillar, The Peace of Mind
The Constitution
TABLE OF CONTENTS
- INTERPRETATION
- Words and phrases shall have the meaning hereinafter stated,
unless it is inconsistent with the subject or context.
- Institute means The Insurance Institute of Zambia.
- TITLE
The name of the Institute shall be the Insurance Institute of Zambia.
- OBJECTIVES
(a) Promotion of professionalism in the Insurance industry.
(b) Taking an advisory role on insurance matters to government
(c) Liaising with the CII Education Division on all matter pertaining to
insurance education.
(d) To promote an awareness of insurance in the general public.
(e) To act as representative group for the insurance profession.
(f) To initiate self-regulation in the insurance profession.
(g) Promotion of cooperation with other associations having similar interests.
(h) Promotion of the interests of members.
- CLASSES OF MEMBERSHIP
(a) The institute shall consist of Fellows, Associates, Students,
Ordinary and Honorary members.
(i) FELLOW MEMBER
Fellows of the Chartered Insurance Institute (CII) of
or Faculty of Actuaries of the
council of the Institute may approve.
(ii) ASSOCIATE MEMBER
Associate of the Chartered Insurance Institute of London, the Institute
or Faculty of Actuaries of the
Council of the Institute may approve.
(iii) STUDENT MEMBER
Any student pursuing insurance studies or any related discipline that the
Council of the Institute may approve.
(iv) ORDINARY
Any person who, in the opinion of the Council, is employed in the
insurance industry or closely connected therewith but does not qualify
either as an Associate member or a student member.
(v) HONORARY MEMBER
Any person who, according to the Council, has served in the Insurance
Industry at managerial level for at least ten years.
(b) The Institute shall be run by a Twelve (12) member Council
comprising of :
(i) President
(ii) Vice president
(iii) Honorary Secretary
(iv) Vice Secretary
(v) Honorary Treasurer
(vi) Vice Treasurer
(vii) Four (4) Executive member
(viii) Past President and Honorary Secretary
(c) Any paid up member can be elected to the Council except
the position of the President and Honorary Secretary which will be restricted to
Associates or Fellow members. He or She must have been a member of the
Institute for at least one year.
(d) The Past President and Honorary Secretary shall be automatic members of the
Council unless the Council decides otherwise.
(e) Each application for membership must be made to the Honorary Secretary
and the Council shall reserve the right to accept or reject any application.
- RESIGNATION OF A MEMBER
A member wishing to resign shall give written notice to the Honorary Secretary.
Although no refund of the membership Fee will be made, the resigning member
must settle his/her account with the Treasurer.
The Honorary Secretary or Treasurer wishing to resign should give thirty (30) days
notice to the Council.
- EXPULSION OF A MEMBER
A member shall be expelled from the Institute if, in the opinion of not less than
Three (3) fourth of the members present and qualifying for voting, at either a
Special Meeting or Annual General. Upon receiving a report prepared by the
Council after investigations, he/she shall be considered to be guilty of dishonorable
or improper conduct. And such expulsion and Names thereof shall be published
in at least two daily newspapers.
- ANNUAL SUBSCRIPTIONS & OTHER FINANCES
The amount of annual subscription for each category of membership shall be
determined by the Council from time to time and must be payable in the first
Quarter of each year.
A distinction shall be made between application for membership and membership
renewal fees.
Other Funds for the Institute shall be raised through any other activity as approved
by the Council. These Funds shall be kept at one of the registered commercial
banks as determined by the Council
The following shall be authorized signatories at these bank accounts:
PANEL A - Treasurer
- Honorary Secretary
PANEL B - President
- Any member appointed by the
Council
- NOMINATION & ELECTION OF THE COUNCIL
(a) The Management of the Institute, the custody and Control of its funds and property,
shall be vested in a Council which shall be elected at any Special or Annual
General Meeting for a period of Two (2) years and shall take office at the end
of the same meeting.
(b) The running of the affairs of the Institute will be the responsibility of the Honorary
Secretary. The President will play a ceremonial role and will president over the
Council meetings.
(c) The Council will be empowered to appoint Committees to be headed by the
Council members. The Committees shall exercise the powers delegated to them
by Council and shall in other respects regulate their own procedure.
The President may be required to attend meetings of such committees.
The Committees shall prepare minutes of all their meetings within seven
(7) days of such meetings.
(d) The accounts of the Institute shall be inspected by any person or body of
persons qualified as Accountant that three fourths of the members agree at a
Special or Annual General Meetings.
(e) The following rules shall govern nominations and election under (a) above:
(i) Nominations of the members for election to any office
must be in writing, signed by the proposer and seconder who shall
be paid up members.
(ii) An independent observer, agreeable by not less than three fourth
of the Council members, shall be the Returning Officer during elections
at Special or Annual General Meetings of the institute.
The nominations will then be lodged with the
Returning Officer.
The Returning Officer shall then announce the names of candidates to the meeting
to allow the paid up members adopt them, The process shall continue until all
posts have candidates and thereafter the elections which will be held by secret
ballot shall take place.
The Independent Observers decision on any question arising out of the ballot
papers and elections shall be final.
(iii) The members of the Council elected under (ii) above shall retire at the expiry of
the period for which they were elected, but shall, be eligible for re-election.
(f) Any vacancy in the Council that occur at any time on any office on which an election has been
made at the Annual General Meeting, the Council may appoint any paid up member of the
Insurance Institute of Zambia to fill such vacancy until the next Annual General Meeting.
- QUORUM
(a) COUNCIL MEETINGS
The Council shall meet every quarter to discuss the business Institute. Fifty per cent or Six (6)
members shall form a quorum. Any Council member who misses three (3) consecutive
council meetings without informing any of the Council members will automatically forfeit
his seat on the Council.
(b) COMMITTEE MEETINGS
Fifty percent of members form a quorum. Any committee member who misses two
consecutive committee meetings without notifying the Committee Secretary or Chairperson
will automatically forfeit his/her seat on the committee, and if a council member as well,
he automatically loses that seat as well.
(c ) SPECIAL OR GENERAL MEETINGS
Fifty percent of members will form a quorum. The members must be fully paid up.
In the absence of a quorum a three fourth vote by those paid up members present will
sanction the meeting.
- ANNUAL GENERAL MEETINGS
The Annual General Meeting shall be held in the first week of each January of each year
when the Council shall be asked to submit a report on the transactions of the previous
year and duly audited financial statements.
The Council will have the power to alter this date but any extension shall not go beyond
the end of the First Quarter. Between Seven (7) and Fourteen (14) days notice shall be
required for the meeting.
- FINANCIAL YEAR
The financial year of the Institute shall end on 31st December, or such other date as
may be decided upon at the Annual General Meeting.
- SPECIAL MEETINGS
(a) MEMBERS OF THE COUNCIL
Any member of the Council may summon a special meeting of the Council at any
time upon the requisition in writing of at least Seven (7) council members and the
agenda shall be circulated.
Between Seven (7) and Fourteen (14) days notice shall be required.
(b) NON COUNCIL MEMBERS
Any paid up member of the institute not serving on the Council may summon a
Special General Meeting of the Institute at any time upon requisition in writing of
at least ten other members of the Institute. Period of notice as in 12 (a) above.
The agenda shall be circulated.
- VOTING
All paid up members shall be entitled to one vote each. A Honorary member can only
be entitled to a vote if he is a Fellow of the Chartered Insurance Institute.
Any member unable to attend any meeting can choose a proxy to vote on his behalf and
this shall be communicated to the Honorary Secretary before the date of the meeting.
The proxy need not be a member of the Institute. In case of a tie, the vote should be
repeated. In the event of a second tie, the returning Officer may publicly cast his vote.
- DUTIES
(a) THE PRESIDENT
He shall preside at all Council meetings and may attend Committee meetings.
He will coordinate the activities of the council and its committees to ensure the
achievement of objectives.
(c) HONORARY SECRETARY
Shall carry out administrative functions of the Institute. He shall keep the following
records:
i. Minutes of proceedings of all Institute meetings
ii. Membership records
iii. Copies of all Financial statements
iv. Copies of all records of the correspondence entered into by the Institute.
He will be responsible for giving notice of all council meetings, Special and
Annual General Meetings.
He shall also carry out any other duties, which may be bestowed on him by the
Council or members at the Annual General Meetings, or any Special Meeting.
( c) TREASURER
He shall be responsible for the administration of all funds for the Council. This will entail:
i. Collection and Recording of all monies bound for the Institute.
ii. Disbursement of all expenses incurred by the Institute
iii. Keeping financial records and documents thereof
iv. Shall be required to prepare proper books of account which shall be
submitted to an audit at the seven notice
v. Shall file copies of all his records with the Honorary secretary
vi. The Treasurer shall provide the Council with mini-financial statement
every quarter.
15. MEMBERS BOUND BY THE CONSTITUTION
Each member is bound by this constitution and shall , on application be entitled to receive
a copy hereof.
- BYE- LAWS
The Council shall have powers to make any by-law which in its opinion is necessary for the
regulation of the proceedings of the Institute, provided that any such bye-laws is not
inconsistent with the Constitution.
- ALTERATION TO THE CONSTITUTION
Any alteration to the Constitution shall only be made at any Annual General Meeting or
Special General Meeting called for the purpose, and then only at least three fourths of
voting members present are in favour thereof.
Notice in writing of any proposed alteration in or addition to the Constitution shall be
lodged with the Honorary Secretary not less than 21 days before such meeting, and the
proposed alteration or amendment shall be circulated to all members at least 10 days
before such meeting.
- DISSOLUTION OF THE INSTITUTE
The Institute may be dissolved at a Special General Meeting duly called for the purpose
and of which at least one month notice shall have been given to the members, provided
that on a motion to that effect being duly made and seconded, not less than three fourths
of the members present shall vote in favour thereof.
In the event of it being decided to dissolve the Institute the surplus funds, effect and
liabilities shall be dealt with in such a manner as may be prescribed at such meeting.
- AFFLIATION WITH OTHER INSTITUTES/ASSOCIATIONS
The Institute shall be affiliated to the Chartered Insurance Institute of the
The Institute may also be affiliated or associated to any other body elsewhere which the
Council sees it fit.
- PUBLIC RELATIONS
No member of the Council of the Institute as whole shall discuss Institute matters with any
member of the public or press without clearance from the Council.
The offence shall attract an automatic suspension of such a member from the Institute for
a period not exceeding 6 months or a fine not exceeding K200,000.00 or both.
Membership Application Form
The Insurance Institute Of
PERSONAL DETAILS Membership Card No.:
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(c) NRC No.: |
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(b)Gender: (Tick where Applicable) |
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(e) Postal Address: |
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(f) Residential Address: |
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(g) Telephone/Cell No. |
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(i) Email Address: |
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(k) How many years have you been working in the insurance industry? |
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2. MEMBERSHIP DETAILS & FEE: (Tick where applicable) | ||||||||||||||||||||||||
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(a) Fellow 100,000 |
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(c) Ordinary (if working in the industry) - 50,000 |
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(b) Associate 75,000 |
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(d) Student (if not working but pursuing studies)- 30,000 |
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3. PROFESSIONAL QUALIFICATION: | ||||||||||||||||||||||||
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(a) Certificate |
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(b) Diploma/ Advanced Cert. |
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(c) Advanced Diploma/ National Diploma in Insurance |
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4. DECLARATION: |
I hereby declare that I will abide by the Constitution and bye-laws made by the Council. | |||||||||||||||||||||||
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APPLICANTS SIGNATURE:
DATE:
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5. FOR OFFICIAL USE: | ||||||||||||||||||||||||
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ACCEPTED |
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NOT ACCEPTED |
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FEE PAID |
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RECEIPT NO. |
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Receipt Date: |
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HONORARY SECRETARY |
PRESIDENT | |||||||||||||||||||||||
Nomination Form
The Insurance Institute of Zambia (IIZA)
C/O ZSIC Life , Premium House, Independence Avenue; P O Box 30507;Lusaka
Tel: 0211-222412/9 fax:0211-222429: cell:0977-672302/0955 900234: Email:jkabwe@zsiclife.co.zm;
buyano@gmail.com:Website: www.freewebs.com/iiza
To: The Returning Officer
We whose signatures appear here below, being paid up members of the Insurance Institute of Zambia do hereby support the nomination of:
First names (in BLOCK CAPITALS)
.
Surname (in BLOCK CAPITALS)
Postal address
..
Residential address
..
To stand as a candidate for Election to the Governing Council (Tick where Applicable):
President [ ]
Vice President [ ]
Vice Honorary Secretary [ ]
Honorary Treasurer [ ]
Vice Honorary Treasurer [ ]
Committee Member [ ]
Committee Member [ ]
Committee Member [ ]
Committee Member [ ]
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DETAIL |
FULL NAMES (block letters) |
NATIONALITY |
MEMBERSHIP No. |
NRC |
Signature |
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Proposed by: |
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Seconded by: |
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I am qualified to stand as a candidate for the Governing Council and that:
(a) My membership No. is
(b) My qualification(s) is/are
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(c) My business address is
.. Tel:
..Fax
..
(d) My residential address is
. Tel:
.Fax
(e) My age is
. Years
(f) I accept the nomination and that;
(g) I am willing to serve on the Governing Council as President/Vice President/Honorary Secretary/Vice Honorary Secretary/
Honorary Treasurer/Vice Honorary Treasurer/Executive Committee Member*
* (delete whichever is not applicable)
(h) I have appointed (full names in BLOCK CAPITALS)-
..
of (address)
..Membership no
..
In accordance with regulations to be my Election Agent.
I summarize below briefly my career/professional background including my current position and responsibility:
....
..
..
..
..
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Signature of Candidate
Received by me at (time)
.....................hours on the
Day of
20
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Signature of Returning Officer
N.B A completed Nomination Form must be received by the Honorary Secretary at the IIZA Secretariat in Lusaka ,
before or by 19th June 2009.
