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(2023)
SECTION 1
This Act applies to members of the Institute.
Application.
SECTION 2
(1) There is established the Chartered Institute of Directors, Nigeria (in this Act referred to as “the Institute”).
(2) The Institute –
(a) shall be a body corporate with perpetual succession and a common seal;
(b) may sue or be sued in its corporate name; and
(c) may acquire, hold or dispose of any property, movable or immovable, for the purpose of carrying out any of its functions under this Act.
(3) The Institute shall not engage in any partisan activities nor shall any of its members or officer of the Institute engage in such activities on behalf of the Institute.
Establishment of the Chartered Institute of Directors Nigeria.
SECTION 3
The objectives of the Institute are to –
(a) provide well-trained, knowledgeable, skilled and competent corporate governance practitioners;
(b) collaborate with individuals, organisations, and agencies interested and committed to building the capacity of Nigeria’s directors and advocating for good corporate governance with the aim of developing professional and technical know-how and improving productivity and national development;
(c) promote integrity, ethical leadership and standards in the conduct and behaviour of persons seeking to qualify as members of the Institute;
(d) ensure that its members maintain a reputable and high standard of conduct expected of any professional practice;
(e) provide for the training and capacity development of persons desiring to become members of the Institute and to promote and protect the interest of its members;
(f) arrange conferences, seminars, symposia and meetings for discussion on practices relating to directorship;
(g) establish a library that will advance the knowledge and study of directorship in Nigeria; and
(h) perform such other functions as may be determined by the Council, in furtherance of the objectives of the Institute.
Objectives of the Institute.
SECTION 4
The Institute shall –
(a) determine the standards of knowledge and skill to be attained by persons seeking to be members of the Institute;
(b) promote the theory and practice of good corporate governance amongst members in accordance with international best practice;
Continue reading Chartered Institute of Directors, Nigeria (Establishment) Act, 2023
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