The FairFund Federation is self-regulated by its Statutary Bodies
♦ The Honorary Court of Governors
♦ The Plenary Court of Governors
♦ The Executive Court
The Honorary Court of Governors
The sole function of the Honorary Court is to promote the mission and ethos of the Federation. Honorary Governors shall primarily reflect (but not be limited to) a cross spectrum of the Commonwealth and Francophone countries; and shall include leaders of faith groups, NGO Aid Agencies, and distinguished persons with experience of politics, finance and constitutional affairs. The Honorary Governors shall come from as wide a cross section as possible of the regions of the world. The Honorary Court has the right to appoint a Governor from amongst its ranks to represent them on the Plenary Court.
The Plenary Court of Governors
The function of the Plenary Court is that it is responsible for enforcing the structures and disciplines for the protection of the cash and / or assets readily convertible to cash belonging to the Risk Mitigation Reserve Trust ('RMRT') which is raised by outside service providers. As administrators of the RMRT, the Federation, must ensure that there are no direct relations with the public; that the RMRT does not hold or accept any capital in kind or favour from any member of any government, political party, ethnic grouping or entity in the public or private sector. The Federation will only accept assets benefacted to the RMRT without encumbrance or conditions. The RMRT is structured so that all assets held in Trust by the RMRT will be under Swiss Asset Management in perpetuity.
The Executive Court
The function of the Executive Court appointed jointly by the Plenary Court and the General Assembly is to make appointments and dismissals of staff; to regulate the operational managers and the general staff in line with the short and medium term development plans of the Federation approved by the Plenary Court and approved by the General Assembly.
The Members represent the grass roots of the Federation and are the beneficiaries of the RMRT. The Federation is there to serve its Members and to respect their autonomy and self-determination. The Members have the right, through democratic election, at the General Assembly, to rise through the ranks of the Federation, so that the operations of the Federation constantly serve the needs of its Members within a changing world.
Each Foundation member firm provides services in a particular geographic area and is subject to the laws and professional regulations of the particular country or countries in which it operates. The Federation helps co-ordinate the activities of the member firms but does not itself provide services to clients. The Federation and the member firms including risk mitigation are separate and distinct legal entities, which cannot obligate the other entities. The Federation and each member firm are only liable for their own acts or omissions, and not for those of each other. Each Federation member firm is structured differently in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in their territories through subsidiaries, affiliates, and/or other entities. All member firms of the Federation are strictly not for profit structures without beneficial shareholders.
♦ The Treasury Division / RMRT
♦ The General Assembly of Members