A Fellow is an appropriately qualified and/or experienced director of one or more entities that carry on business activities under the leadership of a CEO, who reports to a board of directors that meets regularly and functions under appropriate corporate governance principles.

Entry to the category of Fellow shall be by the following methods:

(a) Standard Method – Applicants for admission to the category of Fellow shall be admitted provided that the Membership Committee is satisfied that they are fit and proper persons and meet the following criteria:

(i) have completed the Company Directors Course or equivalent courses determined by the Board of Directors and passed all required assessments; and examination,

(ii) Have had five years experience as a senior executive accountable to the board of a significant company, government business enterprise or not-for-profit entity, concurrent directorships not being added together; or

(iii) have had five (5) years experience as a senior executive accountable to the board of a significant company, government business enterprise or other corporate business undertaking;

(iv) for the purposes of this By-Law, a “significant company” means an incorporated business with turnover in excess of twenty million dollars or 100 or more employees. Non-trading family investment companies, sole director companies and small consultancies do not qualify. To be taken into account, government business enterprises and other corporate business undertakings (such as schools, charities or associations) should have comparable standards of corporate governance to the “significant company” above. To ensure the suitability of the applicant from a professional and ethical point of view as a director, two references from referees who are Fellows of the Institute must be obtained. Concurrent directorships may not be added together in determining years of experience.

(b) By Special Exemption – Applicants for admission to the category of Fellow by special exemption shall be admitted if the Membership Committee is satisfied that they are fit and proper persons and have had at least ten (10) years experience as a director of:

(i) one or more listed public companies; or

(ii) a company, government business enterprise or not-for-profit organisation with a turnover in excess of twenty (20) million dollars and/or one hundred (100) employees. Non trading family investment companies, sole director companies and small consultancies do not qualify. To ensure the suitability of the applicant from a professional and ethical point of view as a director, two references from referees who are Fellows of the Institute must be obtained. Concurrent directorships may not be added together in determining years of experience.

(c) By Special Invitation – The Board of Directors may, at anytime by resolution, invite a person to become, and admit such a person as a Fellow on the grounds of expertise, experience of standing although they have not satisfied the prescribed conditions of admission.