At the meeting held on 16 November 2022, the Royal Pharmaceutical Society (RPS) Assembly members agreed amendments to the Society’s regulations to clarify various aspects of delegated authority. Regulations 13 & 15 will therefore be amended as follows (addition to regulation indicated in italics):
Regulation 13: Investments
… The Assembly may also appoint a Finance and/or Investment Committee (FIC) which will report directly to the Assembly on all matters. Any such Committee(s) will not be responsible for any oversight of commercial investment opportunities in membership or Pharmaceutical Press activities, which shall remain the sole remit of the Assembly.
Authority is delegated to the Executive Team to act on the investment decisions taken at FIC. At least two signatures are required.
Regulation 15: Financial instructions and execution of documents
… A simple contract (i.e. a contract which is not a deed) can be signed on behalf of the Society by a single signatory provided they have express or implied authority. The Authorised Signatories List shall set out who has authority to sign contracts on behalf of the Society.
Operational financial matters, such as completion and submission of bank mandates and the making of bank payments, are delegated to the Executive Team who will report any changes to such mandates to the Assembly.
Any member who wishes to comment to the Assembly on the changes is asked to do so by 23 January 2023. Comments should be sent to: firstname.lastname@example.org
The amended regulations will take effect from 1 February 2023.