1. Name.
The name of the society shall be "The Society of International Treasurers" (hereafter referred to as the "Society").

2. Objective.
The objective of the Society is to provide a forum for the privileged and confidential interchange of views, opinions and experiences between senior treasury and other finance officials of major corporations.

3. Membership.
Membership is restricted to corporations hereafter referred to as "Corporate Members" with minimum sales of USD 400 million p.a., or equivalent. A Corporate Member may nominate senior officials to represent it in the Society. A representative so nominated (hereafter referred to as the "Representative") should be a senior financial executive with a high degree of responsibility and involvement in the treasury function. Banking and consultancy based corporations are not eligible for membership.

4. The Council of Advisers.
     (i) The Council shall consist of a maximum of fifteen Representatives of the Society in good standing, of which not more than five may be from one country, and the following ex-officio members:
          a) the Director General of the Society
          b) the Secretary to the Society as secretary
     (ii) Each of the Corporate Members of the Council shall serve not more than six years. At least one Representative shall retire each year. A retiring Representative shall not be eligible for re-appointment until after the expiration of one year following his or her retirement.
     (iii) Council Meetings. A quorum shall consist of not fewer than two non-ex officio members of the Council.
     (iv) Each year the Council shall inform the membership of the names of members of the Council, the names of those due to retire at the next Annual Meeting of the Council and the names of Representatives it proposes for the filling of vacancies.
     (v) Any Representative may nominate any other Representative for consideration by the Council. Election to Council will be by majority vote of Council.
     (vi) The Council shall manage the affairs of the Society and its funds in support of the objectives set out in Section 2
     (vii) The Council shall meet at least once in every year. Further meetings may be held from time to time.
     (viii) The Council may co-opt a Representative to serve on the Council to fill a vacancy during the year, or where the Council considers that the Representative can further the Society's objectives. Co-opted Representatives must offer themselves for election at the end of the year in which co-opted.

5. Subscriptions.
     (i) The Council of Advisers shall establish an annual subscription.
     (ii) An initial subscription may be paid at any time. It shall fall due for renewal on 1st January each year or as the Council shall designate and so inform the members.
     (iii) A Corporate Member whose subscription has not been renewed by due date shall be reminded within three months after the due date. If a subscription has not been renewed within six months after the date of the reminder, the membership shall have lapsed.
     (iv) A Corporate Member wishing to resign shall notify the Secretary.

6. Officers:
     (i) The Council shall elect a Chairman and a Vice-Chairman from its non-ex officio members.
     (ii) The Chairman, together with the ex-officio members shall form sub-committees for the purpose of transacting such business as is necessary between Meetings of the Council.
     (iii) The Council may nominate members of Council, together with the ex-officio members, to form other sub-committees for specific purposes.

7. Meetings:
     (i) An Annual General Meeting of the Society shall be held during the Annual Convention, for the Council to report to the membership.
     (ii) Any ten Corporate Members together may request an Extraordinary General Meeting for any purpose. The purpose shall be communicated to the Secretary in writing, and the Council shall respond in writing. If the ten Corporate Members are not satisfied by the Council's response, an Extraordinary General Meeting shall be convened prior to the next Annual General Meeting of the Society.
     (iii) Further Meetings of the membership may be held from time to time.

8. Changes to the Constitution.
A proposal to alter this Constitution shall become effective only upon the unanimous vote of Council at a Council Meeting.

9. Non-profit making status.
The Society is a not-for-profit group.

10. Winding up.
The dissolution of the Society shall only be by unanimous vote of Council at a Council Meeting, which will decide upon the disposition of any surplus funds after costs.

11. Personal data.
Membership of the Society and acceptance of this constitution by the Corporate Members will be deemed to constitute consent to the holding of relevant personal data for the purposes of the Data Protection Act 1984 in the United Kingdom. The Society undertakes not to use such data for the benefit of third parties unless express permission is given.