By 1910, members of these local associations and those from London were getting together to talk about strengthening their position and by 1911 the Institute of Shipbrokers was formed; its stated aims were:
- To protect and promote by co-operation the general welfare and interest of shipbrokers.
- To discuss, consider and report upon subjects of interest to shipbrokers and to communicate with chambers of commerce and other public bodies.
- To promote or oppose legislative and other measures affecting the business of shipbrokers and to consider, originate and support improvements in maritime and commercial law.
- To consider all questions affecting the interest of persons engaged in the business of shipbrokers.
- To provide for better definition and protection of the profession or business of shipbrokers by a system of examination and the issue of certificates.
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It was this last activity which convinced the Privy Council that the Institute was a serious professional body and so on 21st January 1920 it was announced that by the special grace and certain knowledge of His Majesty King George V it was incorporated by Royal Charter and would henceforth be known as the Institute of Chartered Shipbrokers.
The President in that momentous year was William Joseph Noble and his collection of Vice- Presidents read like pages from Burke s Peerage, Lord Cowdray, Sir John R Ellerman, Lord Inchcape, Lord Inverforth, Sir Walter Runciman and Sir E. Shadforth Watts. The Council Chairman was Marmaduke Lawther.
The Royal Charter required the Institute not only to provide a proper education for its members and set examinations, it also insists upon a system of discipline so that any member acting in a discreditable manner would be censured, suspended or even expelled; in the latter case details may be published without any fear of legal action. That is, of course, still the case and although action by the Discipline Committee is infrequently needed, the committee members never shrink from their duty.
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Distant Places
By 1910, members of these local associations and those from London were getting together to talk about strengthening their position and by 1911 the Institute of Shipbrokers was formed; its stated aims were: