THE CAMBRIDGE UNIVERSITY REAL ESTATE FINANCE AND INVESTMENT SOCIETY

CONSTITUTION

1. NAME

The name of the Society shall be the “Cambridge University Real Estate Finance and  Investment Society” hereafter referred to as “Society”. 

2. PURPOSES 

(1) To promote knowledge of and research interest in the field of real estate finance and investment to all members of Cambridge University (“the University”). 

(2) To promote contacts with businesses active in the real estate finance and investment sector for the benefit of the society and the members. 

(3) To facilitate members of the Society to acquire skills that may assist them to pursue a career in real estate finance and investment. 

(4) To foster contact networks between members and alumni to the mutual benefit of members and alumni. 

3. MEMBERSHIP

(1) Membership of the Society shall be open to all members of the University and any others that have an interest in real estate investment or real estate finance. 

(2) Membership subscription shall be determined by the Committee for the current year. 

(3) Members of the Society may be automatically enrolled in the mailing lists of associations relevant to the Society’s purposes. They may unsubscribe at any time. 

(4) The Society may offer Honorary Membership on such terms drawn by the Executive Committee and voted on in an AGM. 

(5) The Executive Committee may expel any member whose conduct seems likely to bring the Society into disrepute. 

4. THE FULL COMMITTEE 

(1) The Full Committee, hereafter referred to as the (“Committee”), shall consist of members of the Executive Committee and General Committee as follows: 

(a) The Executive Committee shall consist of a President, up to two Vice-Presidents, a Secretary and a Junior Treasurer. In addition there shall be an Honorary Chair and a Senior Treasurer, who shall both be a resident member of the Senate or other person approved by the Junior Proctor. 
(b) The General Committee shall consist of up to 10 members. 
(c) The Honorary Chair and Senior Treasurer shall be ex officio a member of the Executive Committee, and retain such appointment until voluntary resignation giving 6 months prior notice or otherwise ruled in a Society General Meeting. 
(d) The Honorary Chair, Senior Treasurer and President and Vice-President(s) shall  be entitled to nominate successors whose appointment shall be subject to a majority vote by the Executive Committee. 

(2) Meetings of the Committee shall be chaired by the Honorary Chair or in his or her absence the President. The quorum for a meeting of the Committee shall be 5 members and a written record of each meeting shall be kept and maintained by the Secretary. 

(3) The Committee shall meet at a minimum of twice per term. Notice shall be given to members of the Committee in writing, seven days in advance of the meeting date by the Secretary. 

(4) The chairman of the meeting shall have a casting vote where there is no clear majority. 

(5) The Committee shall have power to receive and spend money on the behalf of the Society and to control the management of the Society. 

(6) The Committee shall have power to make By-Laws as are necessary for the routine management of the Society. The Secretary shall inform members of the Society about these By-Laws. 

(7) The Committee is to prepare a comprehensive Event planning framework inclusive of logistical, financial, publicity estimates, external parties’ engagement procedures, indicative Event date(s) and relevant preparation timelines, to be prepared by the Committee 4 weeks after Stage 2 of the Committee Appointment Process, subject to the approval by the Honorary Chair and Senior Treasurer. 

(8) The outgoing Committee shall ensure that the Society records of accounts, minutes of Society meeting, administrative documentation and any other materials pertaining to the effective and sustained running of the Society are handed over to the Bridging Committee  before commencement of the Interim Period. 

(9) During the Interim Period, the Bridging Committee is to: 

(a) Ensure proper safekeeping of all matter pertaining to the Society received during the hand-over/ take-over procedure from the outgoing Committee as laid out in Section 4.(8). 
(b) Facilitate the Honorary Chair and Senior Treasurer in a smooth and efficient conduct of Stage 2 of the Committee Appointment Process 

(10) The Bridging Committee is to conduct a transparent hand-over procedure to the incoming Committee on all matters pertaining to the Society and held pursuant to Section 4.(8) and 4.(9)(a) respectively.

5. COMMITTEE APPOINTMENT PROCESS 

(1) Committee Appointment procedure shall be as follows: 

(a) Incoming Committee members shall be appointed through CV application and a fair and unbiased interview process conducted by the Honorary Chair and Senior Treasurer, subject to Sections 5.(1)(c), 5.(1)(d) and 5.(4) of the Constitution. 
(b) A majority of the appointed members of the both the Executive Committee and General Committee shall be full-time undergraduate or postgraduate students of the University.
(c) For appointment of members of the General Committee, the Honorary Chair and Senior Treasurer may choose, in writing, to delegate the General Committee selection authority to no less than 5 existing members of the Executive Committee. 
(d) At the discretion of the relevant appointment authority on a case-by-case basis, applicants for General Committee positions who have already been interviewed for  positions on the Executive Committee may be exempted from further interviews. 

(2) Committee appointment Process will be constructed as follows: 

(a) Appointment of members onto the Committee shall be executed in two stages, as defined below for the purposes of the Constitution: (i) “Stage 1” refers to the appointment of members to a Bridging Committee for the duration of the Interim Period. (ii) “Stage 2” refers to the appointment of remaining members to fill up the Executive Committee and General Committee members as laid to form a Committee as laid out in Section 4.(1). 
(b) For purposes of this Constitution, “Interim Period” refers to the period to begin immediately following the formal dissolution of a Main Committee of a given academic year and to end two weeks after the complete formation of a subsequent full Committee, as set out in Section 4. 
(c) For purposes of this Constitution, “Full-term Period” refers to all other dates of the relevant academic year of the academic calendar of the University that do not fall within the Interim Period. 

(3) The Committee Appointment Process will be scheduled as follows: 

(a) Selection process for Stage 1 shall be held and concluded between the start of the Lent Term to 2 weeks post-Lent Term of any given academic year of the University. 
(b) With reference to date of Stage 1 in Section 5.

(3)(i), the selection process for Stage 2 shall be held and concluded during the Michaelmas Term of the following academic year of the University. 

(4) Formation of the Bridging Committee 

(a) The purpose of the Bridging Committee is to ensure a skeletal committee structure with sufficient capabilities to fulfil the conditions of Sections 4.(9), 4.(10) and 4.(11) of the Constitution. 
(b) Under normal circumstances, members appointed to the Bridging Committee shall  be granted the right of first refusal of the equivalent position on the full Committee  before commencement of Stage 2 of the Committee appointment procedure. 
(c) The Bridging Committee shall comprise a maximum of 6 members who shall be appointed to positions on the Executive Committee and General Committee as set out in accordance with Section 4, subject to the following conditions: (i) The Bridging Committee shall consist of a President, a Junior Treasurer and up to three other Executive Committee member. 

6. SUB-COMMITTEES 

(1) The Committee may appoint sub-committees responsible for the organisation and coordination of a specified activity or activities of the society during the Full-term Period. 

(2) Sub-committees possess such powers as may be granted to them in writing by the Committee, but no sub-committees shall have the power to establish and dissolve other sub-committees or to incur financial liability on behalf of the Society without authorisation in writing signed by any two of the Honorary Chair, President, Vice-President(s) and Junior Treasurer.

7. GENERAL MEETINGS 

(1) The Society shall hold an Annual General Meeting (“AGM”) during each Academic year. The AGM shall be held in Cambridge during the Full-Term Period. All Members shall be entitled to attend and vote at any General Meeting. At least fourteen days written notice shall  be given to members before the AGM. 

(2) The AGM shall approve Minutes of the last General Meeting and the Society’s Accounts for the preceding year and conduct such other business as is necessary. 

(3) An Extraordinary General Meeting (“EGM”) may be held at any time during Full Term. It shall be held in Cambridge and may be called by the Executive Committee or at the written request of at least ten members. Twenty-one days written notice shall be given to members  before an EGM is held. An EGM shall have the same powers as an AGM. 

(4) The Honorary President or in his or her absence the President shall take the Chair at any General Meeting. The quorum for a General Meeting shall be five members and a written record of every General Meeting shall be kept. 

8. FINANCIAL MATTERS 

(1) The Society shall maintain a banking account with a suitable Bank or Building Society to hold the Society’s funds. 

(2) It shall be the responsibility of the Junior Treasurer to ensure that monies received are properly accounted for and that the Society’s financial records are kept in good order. 

(3) Signatory arrangements to the bank account must be notified to the Senior Treasurer, and must comprise two signatories from the Executive Committee at least one of whom must be the Junior Treasurer, Honorary Chair, President or Vice-President

(4) The Senior Treasurer shall make arrangements for the Society’s Accounts to be properly audited, either by himself or herself, or by some other person approved under University Ordinances. 

(5) The Senior Treasurer shall not be liable for any financial debt or other obligation of the Society unless he or she has personally authorized such a debt in writing. 

(6) For so long as the Society shall be Registered with the Junior Proctor, it shall be the duty of the Executive Committee to ensure that the Society complies with the requirements for Registration as a University Society. 

(7) The Junior Treasurer shall report to the Executive Committee monthly or quarterly (as determined by the Executive Committee) on the status of the Society finances including bank  balances, income received, expenditure incurred, income and expenditure pending.

9. CHANGES TO THE CONSTITUTION

The Constitution may be amended through a majority vote amongst the Executive Committee at a General Meeting. Each of the Executive Committee will have one vote. In the case of a tie, the Honorary Chair will have the final right to decide on the issue. 

10. DISSOLUTION

(1) The Society may be dissolved at a General Meeting provided that at least fourteen days written notice of the intention to dissolve the Club been given to the members. At least 75% of the Executive Committee has to vote in favour of the motion for Dissolution for it to be effective. 

(2) Any motion for Dissolution of the Society shall provide that assets remaining after all liabilities have been met shall be transferred either to another Registered University Society, or to the Societies Syndicate. 

11. PERSONAL LIABILITY 

(1) No member of the Executive Committee or of the Society shall be held personally liable for any act or omission carried out in the pursuit of the normal business of the society provided such act or omission was not carried out fraudulently. 

(2) Any member of the Committee not attending three consecutive Committee Meetings shall cease to be a member of the Committee, unless he gives a satisfactory explanation to the Committee. 

(3) Any member of the committee who wishes to resign is required to submit a formal letter of resignation explaining his/her reasons for doing so. This letter will then be forwarded to the members. 

(4) Following the decision to resign, a committee member will continue to assume his/her role in the committee until another member is appointed