Memorandum  

Memorandum

CONSTITUTION

OF THE CYPRUS FEDERATION OF BUSINESS AND PROFESSIONAL WOMEN (in abbreviated form “Organisation” or “BPW Cyprus”)

PART A: Provisions pertaining to the Pancyprian association

ARTICLE 1: Name

The name of the Organisation shall be CYPRUS FEDERATION OF BUSINESS AND PROFESSIONAL WOMEN or BPW Cyprus.

The seal of BPW Cyprus shall be as follows:

ARTICLE 2: ARTICLE 3: Seat

The seat of BPW Cyprus shall be in Nicosia (but each of its local clubs shall have its seat in the respective district) and the mailing address shall be P.O. Box 23407, 1683 Nicosia, Cyprus.

The Board of Directors convenes the Extraordinary General Assemblies and the General Assemblies and holds its meetings at its seat and at any venue other than its seat, as may be decided by the Board of Directors. Letters and documents addressed to BPW Cyprus shall be sent to its seat as above or to any other address specified by the Board of Directors of BPW Cyprus at the start of its term of office.

ARTICLE 3: Question 2

(a) BPW Cyprus is composed of the members set out in Article 7 (the “Members”) and operates in accordance with the provisions of this Constitution and pursuant to the “Associations and Foundations and other Related Matters Law of 2017” (L. 104(I)/2017) and the Associations and Foundations Regulations of 1973, as issued by the Council of Ministers and approved by the House of Representatives and as may be replaced in the future.

(b) BPW Cyprus is the highest coordinating and guiding Body of all its members.

(c) BPW Cyprus promotes its objectives without discrimination on grounds of race, language, religion or political beliefs of its members.

(d) It is the body bringing together the Clubs-Members as one unified entity in view of coordinating their actions and activities on matters pertaining to the objectives of BPW Cyprus and its Members.

ARTICLE 4: Objectives

The objectives of BPW Cyprus shall be:

1. To promote the interests of its members and undertake coordinated action in this direction.

2. To work for and maintain high standards of service in business and the professions and achieve, inter alia, the economic independence of women.  

3. To motivate and encourage women to understand and accept their responsibilities in the professional arena and society, at local, national and international level, and encourage and support women to develop their professional and leadership skills and potential.
    
4. To encourage and support women to seek lifelong learning, pursue professional training and advanced education and use their professional capabilities and knowledge for the greater good.

5. To mobilise its power in order to promote:

(a) Equal opportunities and status for women and equal representation in the country’s economic, social and political life, as well as in the decision-making centres.

(b) The elimination of all discrimination.

(c) Equal Pay for Work of Equal Value.

6. To promote friendship, cooperation and a shared understanding between business and professional women in all countries.     

7. To implement programmes and carry out non-profit campaigns and events, with the overall aim to help and support women in the business, professional, political, spiritual and social areas of their life and with regard to their health.  

8. To represent women in other organisations and associations, from a professional and business standpoint, as well as in professional and social life.

9.    To promote the elimination of inequalities against women in general and defend human rights.

ARTICLE 5: International Cooperation

BPW Cyprus is a member of the International Federation of Business and Professional Women (BPWΙ) and complies with the provisions of the Constitution of BPWI.

ARTICLE 6: Resources

6.1    The financial resources of BPW Cyprus derive from:

(a) The registration fee and the annual subscription of the Members, as determined by decision of the General Assembly.

Note: The annual subscription also includes the annual subscriptions to BPWI and BPW Europe.

(b) Contributions and donations.
(c) Proceeds from events.
(d) Proceeds from the sales of products or services provided by BPW Cyprus.
(e) Private and state grants.
(f) Any other proceeds received by BPW Cyprus in a lawful manner.

6.2    The resources of BPW Cyprus are used in order to achieve its objectives and cover any expenses to this end, including any administrative expenses.

ARTICLE 7: Μembers

7.1    Organisations that meet the following criteria may become members of BPW Cyprus.

-    They comprise at least 20 members, 75% of whom must be business or professional women.

-    They endorse the objectives of BPW Cyprus as set out in Article 4 and accept the provisions of the Constitution pertaining to local clubs, referred to with the acronym BPW followed by the name of their city.

7.2    It is understood that the individuals who are Members of the Clubs are, by extension, Members of BPW Cyprus and BPWI.

7.3    BPW Cyprus is composed of the following local Clubs, which adopt the provisions of the Constitution pertaining to the local clubs, without limitation as to the inclusion of additional clubs: 

    Nicosia
Limassol
Larnaca – Famagusta
Pafos
Kyrenia
Eleftheri Famagusta

(hereinafter collectively referred to as “Clubs” and/or “BPWs”).

7.4    The Board of Directors of BPW Cyprus shall have the following rights: 
    
(a) Further to an increase in the number of its Members, to approve the division of the above Clubs into smaller ones, upon relevant application by the said Clubs, in order to better reflect their local character.
(b) Further to a decrease in the number of Members, to approve the merger of any of the above Clubs with bigger ones, upon relevant application by the said Clubs, in order to ensure better representation. In such a case, the Club which shall merge with another Club shall be dissolved and shall automatically adopt the Constitution and the name of the Club with which it is merged.  

7.5    It is understood that all existing Clubs, as well as others that may be created by existing members and other clubs wishing to join BPW Cyprus, must satisfy the provisions of paragraph 1 of this Article.

7.6    The registration of new clubs shall be made upon submission of an application for approval to the Board of Directors of BPW Cyprus, signed by twenty (20) founding members and accompanied by its Constitution. The Board of Directors of BPW Cyprus must reply thereto within a period of two months. 

7.7    A Club may be removed from BPW Cyprus if: 
    - It submits to the Board of Directors of BPW Cyprus a written application to this effect,
- it fails to pay its subscription upon being notified to do so,
- its Constitution no longer complies with the provisions of BPW Cyprus,
- it acts in such manner as to violate the Constitution despite the reprimands made by BPW Cyprus.  

7.8    In case a member of the Central Board of Directors acts in violation of the provisions of the Constitution and the Law in general, or in a manner that contravenes the interests of BPW Cyprus, or with negligence, following a thorough examination of the case and after being given the opportunity to defend herself, the Board may impose on such member the following sanctions, which must be approved by the General Assembly.  
    
    I. Admonition
    II. Strong reprimand
    III. Expulsion

ARTICLE 8: Executive Committee Officers

8.1    The Executive Committee of BPW Cyprus shall be composed of the following officers:
    (1) The President
    (2) The First Vice-President
    (3) The Second Vice-President
    (4) The Secretary
    (5) The Treasurer
    (6) The Representative of Young BPWs
(7) The Immediate Past President for a period of twelve months from the election of the new President of BPW Cyprus.

8.2    At least 75% of the officers of BPW Cyprus must be actively engaged as     professional or business women.

ARTICLE 9: Duties of Executive Committee Officers

9.1    The duties of the Executive Committee officers shall be the usual duties assigned to these positions. The President presides over the meetings and has the casting vote.
    
9.2    In the absence of the President, her duties are assumed by the First Vice-President.

9.3    The President has the right to sign any document on behalf of BPW Cyprus.

9.4    The Executive Committee may appoint individuals, with and/or without remuneration, to perform administrative duties for BPW Cyprus.

9.5    The President heads BPW Cyprus and represents it before the Authorities and the Judiciary.
 
9.6    During her term of office, the President:

   (1)     Offers guidance to the Members.
   (2)     Establishes and maintains relations with corresponding and other     international organisations.
   (3)    Establishes and maintains relations with competent bodies.
   (4)    Presides over the meetings of the Executive Committee of the Central     Board of Directors.
   (5)    Prepares the Agenda for each meeting together with the Secretary.
   (6)    Presides over the Annual General Assembly and is accountable to the     Members.
   (7)   Is entitled to be an ex officio member of all the Standing Committees.            
    
9.7    Responsibilities of the President towards BPWI:

   (a)    Receives the monthly circulars of the central office of BPWI and     informs all the Members of the Organisation accordingly.
   (b)    Ensures that the annual subscriptions to BPWI and BPW Europe are sent     in a timely manner.
   (c)    Ensures that replies to questionnaires and other matters are sent in a     timely manner.
   (d)    Is responsible for the dispatch of any reports to BPWI.

Immediate Past President:

Upon conclusion of her term of office, the Immediate Past President shall hand all minutes, records and relevant information over to her successor.

The Immediate Past President takes part in all the deliberations of the Executive Committee for a period of one year.

Vice-Presidents:

The Vice-Presidents attend the meetings of the Executive Committee, of the Board and of the Central Board.  

The First Vice-President:

(a)    Stands in for the President in her absence. She performs any duties assigned to     her by the President or the Board. 
(b)     Represents the President in meetings in which the latter is unable to attend.
(c)     Assists the President in the performance of her duties.

In the event that the First Vice-President is unable to perform the above duties (a) – (c), such duties shall be performed by the Second Vice-President.

The First Vice-President presides over the Members Committee and leads the activities aiming to increase membership and promote the establishment of new clubs and offers guidance in case of member registration problems.

The Second Vice-President presides over the United Nations Committee and informs the Central Board on matters pertaining to recommendations and decisions of the United Nations on issues of equality and is in contact with BPWI’s Vice-President of United Nations.

Secretary:  

The Secretary has the following responsibilities:

(a)     Attends all the meetings of the Executive Committee, of the Board and of the     Central Board.
(b)     Is responsible for the correspondence and the record, which she shall hand     over to her successor upon completion of her term of office.
(c)     Maintains an updated record with all the names and addresses of the individual     Members of the Clubs.   
(d)     Sends out the notices and the agenda in accordance with the Constitution and     notifies members of the date, place and time of the meetings.
(e)     Together with the President, they prepare the agenda of each meeting and she     assists in the smooth conduct thereof.
(f)     Keeps the minutes of all the meetings in a special Book of Minutes.
(g)     Receives the candidacies for all the positions of officers and members of the     Board and notifies the list of candidates to the Central Board.
(h)     Performs any other secretarial duties assigned to her by the Executive     Committee.

Treasurer:

The Treasurer has the following responsibilities:

(a)     Attends all the meetings of the Executive Committee, of the Board and of the     Central Board.
(b)     Keeps accurate income and expenditure accounts.
(c)     Collects the annual subscriptions and other income and deposits the same in a     Bank Account, in accordance with the Board’s instructions.
(d)     Issues all necessary receipts.
(e)     Prepares a statement of accounts, whenever so requested by the Board.
(f)     Presents the Organisation’s financial report to the General Assembly for     approval.
(g)     Transfers the subscriptions to BPWI and BPW Europe in a timely manner.
(h)     Performs any other duties assigned to her in connection with her office.
(i)     The Treasurer presides over the Finance Committee and, in collaboration with     the President, selects the members of the said Committee, at least one of     whom must be a certified accountant.

Representative of Young BPWs:

The Representative of Young BPWs has the following responsibilities:

(a)     Conveys the positions of Young BPWs to the Executive Committee.
(b)    Acts as the liaison between the Executive Committee and Young BPWs.
(c)    Promotes the activities of Young BPWs across Cyprus.
(d)    Contributes to the activities of the Executive Committee.

The Representative of Young BPWs must have been a member of a Club and of the Young BPW Committee for a period of at least three (3) years.

Young BPWs are all the Members under the age of 35 of the Clubs which belong to BPW Cyprus.

ARTICLE 10: Elections

10.1    Elections are held every three years.

10.2    Candidacies for the positions of officers (and Presidents of Standing Committees) are submitted by the Clubs / Members of BPW Cyprus and/or by the Board of Directors of BPW Cyprus upon the approval of the candidates The maximum number of candidates that may be submitted by each BPW is determined by the Central Board of Directors and is the same for all BPWs. Candidacies for the positions of Vice-Presidents must specify whether they concern the position of First or Second Vice-President.  

10.3    Eight weeks prior to the General Assembly, the Secretary of BPW Cyprus announces the opening of candidacies, which must be submitted to her no later than one month prior to the date fixed for the Assembly.

10.4    Only women engaged or actively involved in businesses or the professions may present their candidacy, provided they are or were members of the Board of Directors of a BPW or BPW Cyprus for at least one term. Candidacies for the position of President may only be submitted by Members who have served as Presidents in BWPs or were members of the Board of Directors of BPW Cyprus for at least one term.

10.5    The list of candidates is sent to each member at least two weeks prior to the General Assembly.

10.6    Elections are held by secret ballot during the Annual General Assembly. Separate elections are held for the position of President and of the remaining members.

10.7    The elections are conducted by a three-member Electoral Commission designated by the Assembly from amongst the non-candidate members present thereat.

10.8    The candidates who have obtained the highest number of votes are deemed to be elected. In the event of a tied vote, the election is decided by lot amongst the members who have obtained an equal number of votes.
 
10.9    (a) Elected officers cannot be re-elected to the same position for more than two consecutive terms.
    (b) Candidates who are elected as officers of the Executive Committee of BPW Cyprus cannot hold an office in a board of directors of a local BPW.

10.10    The newly elected officers (and the presidents of the committees, if so decided) undertake their duties immediately after the end of the term of office of the previous officers.

ARTICLE 11: Administration of BPW Cyprus

The responsibility for the administration of BPW Cyprus lies with:

(a) the Executive Committee
(b) the Board of Directors
(c) the Central Board of Directors.

ARTICLE 12: Duties of the Executive Committee

12.1    The Executive Committee meets on a frequent basis and whenever necessary in between the general assemblies and the meetings of the Central Board of Directors, at the agreed venue and time. The regular and extraordinary meetings are convened with 7 days and 48 hours notice respectively.

12.2    Its duties include the following:

(1) Carry out the business of BPW Cyprus.
(2) Report to the Central Board and to the General Assembly.
(3) Examine applications by clubs wishing to become members of BPW Cyprus and determine whether their constitution is in line with Part B of this Constitution.
(4) Approve the payments made by the Treasurer.
(5) Fill the positions of elected members which become vacant in between the assemblies.
(6) Appoint salaried officers and employees.

12.3    One half of the members of the Executive Committee constitute a quorum and its decisions are valid if taken by simple majority vote of the members present.

12.4    The Executive Committee shall declare the position of any member of the Central Board of Directors vacant if such member resigns, is terminated or is unjustifiably absent from two consecutive meetings, or has a total of four unjustified absences.

12.5    A position on the Central Board of Directors shall automatically become vacant when the member:

    •    passes away,
•    becomes physically or mentally incapable,
•    is convicted of an offence involving dishonesty or moral turpitude,
•    is expelled from the Club in which the Member is registered,
•    as provided in Article 12.4 above.
12.6    In case a position on the Central Board of Directors becomes vacant during the term of office, the Executive Committee may fill such position until the following General Assembly of BPW Cyprus.

ARTICLE 13: Board of Directors

13.1    The Board of Directors shall be composed of:
-    the members of the Executive Committee and
-    the Presidents of the Standing Committees.

The Board of Directors shall meet at least six (6) times a year.

13.2    It holds a minimum of 10 meetings a year, implements the policy of BPWI and carries out the following:

    13.2.1    Examines and accepts (or rejects) membership applications by Clubs.
    13.2.2    Expels Members in accordance with the provisions of Article 7.7.
    13.2.3    Sets up ad hoc Committees, appoints the presidents thereof and/or persons in charge of specific matters and fills the positions of elected officers or members which have become vacant in between the Annual General Assemblies from the runners-up list. In case there are no runners-up, it convenes an Extraordinary General Assembly in order to elect members in the vacant positions through interim elections. In case one or more positions become vacant within the three-month or any shorter period preceding the end of its term, the Board of Directors shall have the right to pursue its mandate until the end of such term without filling these vacancies.  
    13.2.4    Receives and assesses the reports of the Standing and ad hoc Committees and makes recommendations to all of its Club - Members.
    13.2.5    Considers and takes the necessary measures pertaining to all matters presented to it by Members of BPW Cyprus or other stakeholders.
    13.2.6    In case the Constitution does not provide for procedures in connection with a specific matter, the Board of Directors has the right to act as it deems fit, taking into consideration, if applicable, usual practice.
    13.2.7    One half of the members of the Board of Directors present at a meeting constitute a quorum and its decisions are binding when one half of the members present vote thereat. In the event of a tied vote, the President or the member presiding over the meeting have the casting vote.  
    13.2.8    The regular and extraordinary meetings of the Board of Directors are convened with 7 days and 48 hours notice respectively.

ARTICLE 14: Central Board of Directors

14.1    The Central Board of Directors of BPW Cyprus shall be composed of:
-    the members of the Executive Committee,
-    the elected Presidents of the Standing Committees,
-    the President or one representative – member of the Board of Directors of each Club which is a member of BPW Cyprus, specifically appointed to represent the Club.

14.2    The Central Board of Directors shall meet at least four (4) times a year.

14.3    The duties of the Central Board of Directors shall be:
    (a)    To convene the General Assembly
    (b)    To implement the policy of BPW Cyprus
    (c)    To receive and study the reports of the Executive Committee and the other committees
    (d)    To take action in connection with various matters assigned to it by the General Assembly
    (e)    To make recommendations to the General Assembly.

14.4    The regular and extraordinary meetings of the Central Board of Directors are convened with 7 days and 48 hours notice respectively.

14.5    One half of the members of the Board of Directors present at a meeting constitute a quorum.

ARTICLE 15: Committees

15.1    In view of the better fulfillment of the objectives of BPW Cyprus, the Board of Directors may set up Standing and ad hoc Committees.

15.2    The Standing Committees include the following:

    (a)    Planning and Events Committee
    (b)    Legal Affairs Committee
    (c)    Committee on Women’s Issues
    (d)    Public Relations and Communication Committee
    (e)    Finance Committee
    (f)    United Nations Committee
    (g)    Young BPW Committee (for Members aged 18-35)
    (h)    International Relations Committee

15.3    Pursuant to the provisions of paragraph 15.7 below, the President of every other Standing Committee shall be elected at an Ordinary or Extraordinary General Assembly further to the submission of candidacies with the same procedure which is followed for the election of the Executive Committee. Each Standing Committee shall be composed of 3-5 members, appointed by its President in coordination with the Executive Committee.

15.4    Each Committee shall prepare an action plan and the relevant budget, which shall be presented to the Executive Committee for approval.

15.5    Each Committee shall meet on a regular basis and submit to the Executive Committee studies and recommendations to assist in the decision-making process.

15.6    The President of each Standing Committee shall convene its meetings and the Secretary of the said Committee shall keep the minutes of such meetings, which it shall thereafter submit to the Secretary of the Central Board of Directors.

15.7    The Treasurer of the Executive Committee shall be the President of the Finance Committee and the said Committee shall comprise at least one member who is a certified accountant. The First Vice-President presides over the Committee of Club Members and the Second Vice-President presides over the United Nations Committee.

15.8    The President of the Public Relations and Communication Committee is responsible for the image of BPW Cyprus. She takes actions to promote BPW Cyprus and presents to the Board of Directors a specific communication policy action plan. She plans the strategy for all events. She oversees the publication of the advertising brochures, the news bulletin S’Epafi and the drafting of the press releases and is responsible for contacts with the media.

15.9    The President of the International Public Relations Committee is responsible for the promotion and communication policy of BPW Cyprus (as decided by the Board of Directors) internationally and for the development of close contacts and the conduct of joint events by BPW Cyprus and other members of the International Federation of Business and Professional Women (BPWI) in other countries.

ARTICLE 16: General Assembly

16.1    The General Assembly shall be composed of:
(a) the Executive Committee
(b) the Presidents of the Standing Committees
(c) the representatives of each Club which belongs to BPW Cyprus. The number of representatives of each Club is determined based on the number of their members who have settled their dues as follows:
•    Up to 50 Members, three (3) representatives
•    From 51-100 Members, four (4) representatives
•    More than 101 Members, five (5) representatives.
16.2    The General Assembly is convened at least once a year upon eight (8) weeks written notice to the Members. All the Members of the Clubs which belong to BPW Cyprus are entitled to participate as observers without the right to vote.

16.3    The General Assembly transacts, inter alia, the following business:

(a) Establishes the policy of BPW Cyprus.
(b) Receives and assesses the Executive Committee’s Report.
(c) Receives and approves the audited accounts and the budget.
(d) Receives and assesses the recommendations of the Central Board of Directors.
(e) Approves resolutions on matters pertaining to BPW Cyprus.
(f) Approves the fees paid by the Members to BPW Cyprus.
(g) Elects the officers and presidents of the Standing Committees.
(h) Appoints auditors.

16.4    One third (1/3) of the Members entitled to vote constitute a quorum at the General Assembly. If a quorum is not established, the General Assembly is adjourned for half an hour and thereafter all Members present constitute a quorum, irrespective of their number.

16.5    Decisions are taken by a majority vote of 50% plus one of the members present.

ARTICLE 17: Extraordinary General Assemblies

17.1    The Extraordinary General Assemblies are convened as follows:

    (a)    By the Board of Directors of BPW Cyprus.

    (b)    Upon written application by 1/3 of the Club – members, stating the relevant reasons and the business to be transacted at the Extraordinary General Assembly. The Board of Directors has the obligation to convene an Extraordinary General Assembly within 21 days from receiving the application, upon written notice to its Members. In case the Members requesting the Extraordinary General Assembly do not attend, the said Assembly shall be cancelled.

    (c)    The quorum at the Extraordinary General Assembly is established as provided in Article 16.4 above.

    (d)    The Extraordinary General Assembly is presided over by the President of the Board of Directors and only the items included in the agenda are discussed thereat and decided upon.


ARTICLE 18: Financial Affairs

18.1    Each Club member participating in BPW Cyprus shall pay, through the Club to which it belongs, the annual subscription to BPW Cyprus, as determined by the General Assembly. The said amount shall also include the annual subscription of each member to BPWI and BPW Europe.

18.2    The Finance Committee monitors the finances, raises funds, prepares the annual budget and the audited accounts of BPW Cyprus. The Finance Committee shall monitor the expenses of BPW Cyprus in order to make sure they do not exceed budget revenues.

18.3    The annual budget is prepared by the Finance Committee and ratified by the Executive Committee.

18.4    BPW Cyprus accepts the financial obligations and abides by the procedures which BPWI requests from its members.

ARTICLE 19: Amendments, Interpretation and Disposal of the Constitution

19.1    The Constitution may be amended during an Extraordinary General Assembly convened to this effect, or during any general assembly, as set out in paragraph 19.2 below, provided the following procedures have been complied with:

    (a)    The amendment has been submitted to the Secretary in due time, so that it can be circulated to the Boards of the Clubs which belong to BPW Cyprus at least 6 weeks prior to the assembly. Their views must be submitted to the Secretary 4 weeks prior to the proposed assembly.

    (b)    The proposed amendment has been studied by the Executive Committee and has been forwarded to and approved by BPWI.

19.2    The Assembly which examines amendments to the Constitution is called a Constitutional Assembly. One half of the Members plus one constitute a quorum at the Constitutional Assembly. If a quorum is not established at the prescribed time, the Assembly is adjourned for half an hour and thereafter all Members present constitute a quorum, irrespective of their number.

19.3    Provided both the Executive Committee and the Clubs which belong to BPW Cyprus agree thereto, the assembly may be convened at shorter notice, but the support of one half plus one of the members present, as stated in Article 19.2, remains a prerequisite for the approval of the amendment.

19.4    The amendment of the objectives of the Constitution requires the consent of one half of the members plus one.

19.5    Every amendment of the Constitution takes effect upon its entry in the Register, further to an application by the Board of Directors made within 30 days from its voting.

19.6    Matters which are subject to more than one interpretation or in respect of which the opinions of Members diverge or matters not provided for by this Constitution shall first be decided upon by the Board of Directors.

Such decision is binding, unless contested at the General Assembly, whose decision shall be final.

ARTICLE 20: Funds and Expenditure

(a)    The funds of BPW Cyprus may be employed in accordance with the decisions taken by the Board of Directors from time to time, for the operation of BPW Cyprus and the achievement of its objectives and duties, as laid down in this Constitution.

(b)    The funds of BPW Cyprus which are not necessary to cover running expenses may, upon decision of the Board of Directors, be invested in any approved investments or deposited in approved banking or cooperative institutions, subject to the conditions approved by the Board of Directors.

(c)    BPW Cyprus cannot incur any liabilities or debts.

ARTICLE 21: Preparation and Audit of Accounts

21.1    For the purposes of BPW Cyprus, the financial year shall commence on 1st January and end on 31st December. The audited annual accounts of BPW Cyprus shall be prepared by certified auditors, who may also be Members of the Clubs, and presented to the Executive Committee by the 30th of June of each year. They shall also be presented to the General Assembly in accordance with provisions 21.2 – 21.4 hereinbelow.  

21.2    The General Assembly elects two auditors to audit the accounts of BPW Cyprus.

21.3    The auditors shall have authority to freely examine and access all books and documents necessary to perform their duties and shall prepare an Annual Report on the Financial Situation of BPW Cyprus and the manner in which accounts have been kept. The Report shall be submitted to the General Assembly for approval.

21.4    The auditors are members of the General Assembly and must be present thereat, but shall not be members of the Board of Directors.

21.5    The members of the Board of Directors have the obligation to convey to the Registrar the accounts and the certified auditor’s Report, within 7 months from the end of the financial year at the latest.

ARTICLE 22: Property of BPW Cyprus

22.1    BPW Cyprus may acquire, in its name, assets which shall be managed by 3 trustees designated by BPW Cyprus. The said trustees shall be Members of BPW Cyprus and shall offer their services free of charge.

22.2    The trustees shall hold and manage the said property on behalf of BPW Cyprus, in accordance with the instructions of the Executive Committee.

22.3    The said trustees shall perform their duties as above pursuant to the law and until any of the following occurs to anyone of them:
(a) they resign,
(b) they pass away,
(c) BPW Cyprus terminates their services.

ARTICLE 23: In-court, Out-of-court and General Representation

BPW Cyprus is represented by its President, save as otherwise specified in the Constitution.

ARTICLE 24: Honourary Members

24.1    Upon the recommendation of the Board of Directors, the General Assembly declares as Honourary President and Honourary Members of BPW Cyprus, persons who have offered valuable services to BPW Cyprus and its objectives.

24.2    These Members may attend the General Assemblies, on the invitation of the Secretariat, but shall not be entitled to vote.

ARTICLE 25: Dissolution of BPW Cyprus

25.1    BPW Cyprus is dissolved:

    (a) At an Extraordinary General Assembly convened to this effect, provided:

- the proposal for the dissolution has been submitted to the Executive Committee in writing and is supported by at least ½ of the Members
- the proposal shall be circulated to all persons with a right to vote at an assembly, at least two months prior to the date of the assembly
- at the assembly, the proposal must be supported by at least ½ of the members present.

(b) When the number of its members falls under 20, and
(c) By decision of the Court in accordance with the provisions of the law.

25.2    Any property of BPW Cyprus remaining after the settlement of its obligations shall be distributed as determined by the Assembly. It is understood that it shall not be distributed amongst the members of BPW Cyprus.