On the 19th of January 2012, the SLID Membership met at an Emergency General meeting, where they unanimously approved and resolved that the proposed Articles of Association and By Laws be adopted. This is only the first step towards becoming a company limited by guarantee.
The SLID Council of Members had spent many months deliberating on the Articles of Association and the By Law to become a recognized legal entity which would in turn enable SLID to receive funding from international bodies. The next step would be to obtain the Registrar General’s approval and the granting of a license as per Section 34(1) (a) of the Companies Act No. 7 of 2007.
The Articles of Association have been structured in two distinct parts. Part A defining the statutory requirements on the formation of a Company Limited by Guarantee, whilst Part B details the organizational structure of the Company.
The By Laws define the Membership of the Institute, the formation of the Council and the general running of the Institute.
The new By Laws have broadened the eligibility criteria to join the Institute making it more inclusive. A Fellow Member category has been introduced in addition to the present categories of Ordinary Membership and Life Membership. An Ordinary member could be upgraded to the category of a Fellow Member on the attaining of a minimum number of hours of Continuous Director Development (CDD) and on the basis of the Member’s special skills, experience and exposure.
An Ordinary Member could also be elevated to the category of a Life Member at the discretion of the Council on account of special contributions made by such member to the Institute, rather than on the payment of a Life Membership fee.
Further, an Affiliate category has been introduced as an extension of the Associates. It has been proposed that a person holding the position of a manager interested in becoming a company director, and a full time university student on post-graduate studies, be eligible to join the Institute as an Affiliate.
The Associate category however remains the same as before making senior corporate managers, sole proprietors and partners of professional practices eligible to make application.
The Head table - seated from the left:Mr. Pravir Samarasinghe (Vice President), Mr. Ronnie Peiris (President) & Mrs. Lilani Perera (CEO)
A section of the gathering