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The Actuary The magazine of the Institute & Faculty of Actuaries
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Privy Council gives seal of approval for merger

When the Privy Council met on the week commencing 6 June 2010, the Queen in Council allowed amendments to be made to the Charter of the Institute of Actuaries, allowing the creation of the Institute and Faculty of Actuaries.

The Charter was put before the Privy Council following the vote on 25 May 2010 when voting members of the Faculty of Actuaries in Scotland and the Institute of Actuaries voted in favour of resolutions to merge the two organisations and form the Institute and Faculty of Actuaries.

Of those Faculty members who voted, 82.9% voted in favour of the resolution to merge and 82.5% of Institute members who voted voted in favour of the resolution to merge. The votes took place at separate general meetings in Edinburgh and London.

Members will be kept up to date with the merger process and timetable and will shortly be receiving a letter outlining the practical implications of the merger.