The Rules of the Club

    To form and maintain an association of those members of the Lloyd’s Community or within the London Insurance Company Market. To enable them to meet and to enjoy social activities and to assist and foster any other activity which in the view of the Club Committee are beneficial to the welfare of the Community of Lloyd’s, or within the London Insurance Company Market.
    The Committee of the Club may, at their discretion, admit to membership of the Club those persons who have served in the Lloyd’s Community or within the London Insurance Company Market for a minimum period of 25 years, or otherwise at the discretion of the Committee.
    The annual subscription to the Club shall be £15-00 which shall be paid by Banker’s Order or by cheque on election and subsequently on the 1st July of each year OR such other amount that the Committee may, from time to time, determine. Members who have not paid their subscriptions by the 30th November in each year shall automatically cease to be members of the Club.
    Life membership shall be available to members of the Club for a single payment of £150.00 (or £75.00 for those over 70 years of age) in lieu of the annual subscription OR such other amount that the committee may, from time to time, determine.
    a) Any member wishing to resign shall send a notice of resignation to the Hon Secretary so as to reach him on or before the 30th June in the Calendar year to which such notice is to apply.
    b) If any member of the Club be debarred from entry to the Underwriting Room at Lloyd’s or be guilty of any default or discreditable conduct (of which the Club Committee shall be the sole arbiters) he shall, if the Committee so resolve, automatically cease to be a member of the Club. He shall forfeit his subscription or in the case of a Life member, his Life membership fee.
    a) The Club Committee shall consist of twelve members to be elected by the members present in General Meeting to serve for a period of three consecutive years. Any vacancies occurring during such period shall be filled by election at a General Meeting in the year following that during which the vacancy occurred.
    b) If the number of nominations for election to the Committee shall not exceed the number of vacancies to be filled, the nominated candidates shall be elected. If the number of nominations shall exceed the number of vacancies the election shall be a ballot.
    c) A member shall be nominated for election to the Club Committee by a requisition signed by at least two members of the Club. Such requisition shall be lodged with the Hon. Secretary not less than 14 days before the General Meeting convened for the purpose of electing members of the Committee.
    d) Each member present at the Meeting at which the ballot is held shall have one vote for each vacancy, but shall not give more than one vote to any candidate and in every case where the member exercises his right to vote he shall vote for as many candidates as there are vacancies.
    e) In reporting upon the result of a ballot the scrutineers (who shall be appointed at the Meeting) shall report upon the number of votes for each candidate and if any two or more candidates have an equal number of votes the election shall be determined by lot.
    The Chairman of Lloyd’s in Office at the time shall be invited by the Club Committee to accept the Office of President of the Club.
    The Club Committee shall at the first committee meeting in each year elect the following Officers :-
    Hon. Secretary
    Hon. Membership Secretary
    Hon. Treasurer
    The Club Committee shall appoint a suitably qualified person(s) or a firm of Chartered Accountants to conduct an “Independent Review” of the Club’s accounts each year, the scope of which will be decided by the Committee at their sole discretion or as may be required by legislation from time to time. The Annual Accounts, after the “Independent Review” as hitherto referred shall be made available to members by the 31st March next following the close of each financial year.
    All subscriptions, life membership fees and other receipts for the account of the Club shall be carried to a fund or funds under the control of the Club Committee who shall in their absolute discretion administer such funds in accordance with the Objects of the Club.  All funds shall be paid into “The Three Rooms Club” account or accounts maintained with Messrs. Coutts & Co. and shall be under the control of the Club Committee. The signatories on behalf of the Committee shall be the Hon. Treasurer and any of the other appointed officers. They are empowered to sign cheques or other negotiable instruments, to operate the banking account of the Club generally for the purposes of the business of the Club and to invest the monies of the Club on the authority of the Club Committee. The Committee may, from time to time and at their absolute discretion, transfer any funds deemed to be surplus to the efficient running of the Club to “The Three Rooms Charitable Trust” for such purposes as that trust my determine. Neither the Club Committee nor any individual member thereof shall be personally liable for any claims which may be made upon “The Three Rooms Club”.
    A General Meeting of the Club shall be called within six (6) months after the end of every other financial year.
    The Club Committee may call a Special General Meeting at any time they think fit giving 14 days notice of any such Special General Meeting and stating the purpose for which it was called. They shall also call a Special General Meeting within 28 days of the receipt of a requisition signed by at least 20 members of the Club, provided an adequate reason is given.
  12. QUORUM
    Not less than five members of the Club Committee shall constitute a quorum of the Club Committee.
  13. RULES   These Rules may be altered with the consent of two-thirds of those members present and who are entitled to vote at an Annual General meeting or a Special General Meeting called for that purpose.
    Any difference of opinion between a member of the Club and the Club Committee regarding the application or interpretation of these Rules shall be submitted for arbitration to a sole arbitrator to be appointed by the Chairman of Lloyd’s, whose sole decision shall be binding on both parties.