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The International Bunker Industry Association (IBIA) has announced that its articles of association and bylaws have been updated.

IBIA confirmed that the new bylaws were passed by its board of directors via a resolution dated 15th December 2016 and are effective from 3rd January 2017. The bylaw document was last updated on 19th January 2017, whilst the association's memorandum and articles of association document was amended on 15th December 2016.

The adoption of the new articles is an agenda item at the upcoming annual general meeting (AGM), which takes place at the Naval Club, London, on 20th February 2017.

The key changes are as follows:

Time as a board member

Previously, a clause stated that a third of the board was required to stand down at each election; this meant that it was possible for a board member elected to serve a three-year term, having their term cut short and only serving two years.

The clause has been amended to state a board member is elected for a full three years. Board members do, however, retain the right to resign.

Board officers

The clause regarding officers (Chair, Vice Chair and Treasurer) has been amended.

All elected officers are limited to serving a maximum of two consecutive terms in a particular office, following which they shall take a break of at least one year before holding office again - with the exception of Vice Chair, who could progress to Chair, if elected.

This makes it mandatory for the Treasurer and Chair to stand down from the board after serving two years in office. The previous clause made it possible for the Treasurer or Chair to become a board member again and remain on the board for up to 10 years.

"The overall intention of the changes is to ensure rotation on the board, ensuring that there is an opportunity for new board members to be elected and also ensure that continuation can be achieved," IBIA said.