Requirements for Membership
Applicants must be Fellows or Associates of the Institute and Faculty of Actuaries or of any other similar actuarial body.
Each application must be supported by a proposer and a seconder, who must themselves be Liverymen of the Company; and cannot both be employees of the same Company, nor Partners in the same Firm, as the applicant.
The Procedure to Become a Member
The applicant, who should have attended at least one Livery event, is interviewed by a member of the Membership Committee. If the application is approved the applicant attends a Court meeting to be admitted to the Freedom of the Company.
The Freeman then applies to the City Chamberlain’s office to obtain the Freedom of the City of London. This will entail two visits to the Guildhall; the first to provide the required information and the second to make the relevant declarations. The Freeman should also attend a City Briefing, or equivalent event, to ensure that they have at least a grounding in the governance of the City of London.
The Freeman is then eligible for consideration for Clothing with the Livery, which takes place at a subsequent Court Meeting. After the Clothing the Freeman becomes a Liveryman.
Fines and Quarterage
There is a Freedom ‘fine’ (admission fee) of £50 and a Livery ‘fine’ of £250.
There is an annual “Quarterage” (subscription) of £250 if paid by direct debit. The Quarterage is reduced to £100 for those under the age of 40 and aged 80 or over.
Further information about membership of the Company or a request for a Membership pack can be obtained from the Clerk.