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Institute's Rules of Association - 
Rule 3   -   Membership

 

3        MEMBERSHIP

There shall be two types of membership in the Institute:  personal members (of various grades) and organisational members (which may nominate some of their staff as a Corporate Affiliate of the Institute – see 3.1.2 below).  

3.1      Organisational Members

3.1.1   Corporate Member 

The Institute may accept an organisation as a Corporate Member if the organisation has applied for such membership, has paid the requisite annual subscription and if the Institute is satisfied that the organisation has 1) undertaken to support the objectives of the Institute,  2) given a commitment to comply with the Institute’s Code of Conduct,  and 3) has nominated a person for liaison with IVMA.   

From time to time, the Institute may establish concessional annual subscription rates for all personal members who are employees of Corporate Members in recognition of their organisation’s support for the Institute.  The Institute may also permit each Corporate Member to nominate not more than three of its employees (at any one time) as a Corporate Affiliate of the Institute. 

3.1.2   Corporate Affiliate

A Corporate Affiliate is not a personal member of the Institute.  Accordingly a Corporate Affiliate has no entitlement to any benefits of personal membership and is not required to pay any annual subscription. The Board of Management may determine that each Corporate Affiliate should receive a personal copy of a newsletter or other regular publication of the Institute.

3.2      Personal Members

There shall be four grades of personal membership: Associate Member, Member, Fellow  and  Honorary Life Fellow.

3.2.1   Associate Member  

 

a)  The Institute may admit a person as an Associate Member if the person has applied for membership, has paid the requisite annual subscription and if the Institute is satisfied that the person has 1) demonstrated the capacity and interest to support the objectives of the Institute  and 2) given a commitment to comply with the Institute’s Code of Conduct.
   
b) A person who, immediately prior to the introduction of the grade of Associate Member, held the now-discontinued personal membership grade of Affiliate shall automatically become an Associate Member if his or her membership is in good financial standing.  

3.2.2   Member  

a)  The Institute may admit a person as a Member if the person has applied for membership, has paid the requisite annual subscription and if the Institute is satisfied that the person has 1) demonstrated the capacity and interest to support the objectives of the Institute,  2) given a commitment to comply with the Institute’s Code of Conduct,  and 3) provided evidence of their compliance with the specific requirements for the grade of Member as set out in c) below and as may be further determined from time to time. 
  
b)  A person who has been admitted to the grade of Member shall be entitled to use the post-nominals MIVMA and shall be entitled to vote on any issue relating to the affairs of the Institute as a whole which is put to the membership.  (This does not include issues being considered by the College of Fellows or by a regional grouping of members, unless that grouping includes the Member.)  
  
c)  In addition to the general requirements set out in a) above, in considering applications for admission or upgrade to the grade of Member, the applicant will be required to provide to the Institute’s satisfaction at least all of the following: 
  

  • confirmation that the applicant is a person of good standing in the community;  

  • documentary evidence of full personal history, educational qualifications, employment history, personal and professional affiliations;

  • demonstrated active and current knowledge of Value Management principles and practices as currently applied in Australia;

  • a good understanding of the Miles methodology, based on that outlined in the current Australian and New Zealand Standard for Value Management;

  • a number of referees of whom the Institute may enquire and who are in a good position to provide a balanced appraisal of the applicant’s Value Management capabilities and experience.

3.2.3   Fellow  

a)  The Institute may admit a Member to the grade of Fellow if   1) an application has been received in accordance with the specific requirements and criteria for the grade of Fellow as set out below and as may be further determined from time to time,  2)  the Member has been a Member in good standing for at least two years and has therefore given a commitment to comply with the Institute’s Code of Conduct,  3) the Member has agreed to be upgraded and has paid the requisite annual subscription  and   4) the Institute is satisfied that it is in the best interests of the Institute that the Member be accepted into the College of Fellows.  
  
b)  A person who has been admitted to the grade of Fellow shall be entitled to use the post-nominals FIVMA and shall be entitled to vote on any issue relating to the affairs of the Institute as a whole which is put to the membership and on any issue being considered by the College of Fellows.  (This does not include issues being considered by a regional grouping of members, unless that grouping includes the Fellow.)  
  
c)  Application for upgrade to the grade of Fellow may be lodged by the Member personally or confidentially by other Members and/or Fellows.   
  
d)  If an application is submitted by the member personally, the Institute will seek complete, independent and confidential written references from each of three referees which the applicant must nominate.  At least two of the referees should be Members or Fellows.  The Institute may also seek confidential references from any other Members or Fellows when it considers such references to be appropriate or desirable.  
  
e)  If the application is submitted confidentially, it must be clearly identified to that effect and must take the form of at least three separate nominations, each independently prepared and directly submitted by a member who has been in good standing as an Institute Member or Fellow for at least two years.  For a confidential application, if the Institute is satisfied that the upgrade is appropriate, it will seek the Member’s acceptance and subscription before confirming the upgrade.  
  
f)  For any application for the grade of Fellow, however submitted, the Institute may also seek references from any other parties it considers appropriate to the applicant’s situation.  
  
g) In addition to the general requirements set out in a) above, in considering applications for upgrade to the grade of Fellow, the Institute will need to be satisfied with regard to at least all of the following:  
  

  • that the applicant is respected in the community and held in high personal regard by professional colleagues;

  • that the Member has consistently, over a number of years, shown by their efforts to have made a lasting and significant contribution to the achievement of the Institute’s objectives and to the furtherance of the use of Value Management in business, industry, government, educational institutions, the professions or other applications in Australia;

  • that the Member is committed to the Vision, Objectives and activities of the Institute and has made considerable contributions to its advancement over at least the last five years.

3.2.4   Honorary Life Fellow  

 

a) Following a recommendation of the Board of Management and then by resolution of the Institute’s Members and Fellows voting by secret ballot without the knowledge of the nominee, the Institute may determine that a person be invited to accept the special grade of Honorary Life Fellow in recognition of an outstanding, exemplary or conspicuous contribution to Value Management in Australia or to the work of the Institute.  
  
b) An Honorary Life Fellow shall enjoy all the benefits of a Fellow, shall pay no annual subscription or registration fee (if entitled to Registration as a Practitioner) and shall be entitled to use of the post-nominals HonFIVMA.  
  
c) Announcement of the Award of an Honorary Life Fellowship shall be made at a General Meeting of Members or other appropriately prestigious occasion and the Institute shall present to the new Honorary Life Fellow a documented citation setting out the award and the grounds on which it is made.   

3.3      Certificate of Membership      

Every Corporate Member, Associate Member, Member, Fellow and Honorary Life Fellow shall be issued with a Certificate suitable for public display that testifies to the grade of their membership and showing the date of their admission to that grade. 

The certificate shall be signed by the President and the Chairperson of the Membership Committee.

Certificates of Membership remain the property of the Institute and shall therefore be returned to the Institute if, for any reason the named member ceases to hold the certified grade of membership.

3.4      Resignation

Any member wishing to resign from the Institute is required to be a financial member and to submit a written request to resign addressed to the Secretary for referral to the Membership Committee.