Substantive Document prepared by the Institutions' negotiators

摘要

The negotiators have found much evidence to support the case for a merger and we believe that there are no insurmountable obstacles. We consider that the merger should be progressed as quickly as possible to gain maximum advantage. However, the timescale for a merger cannot be defined at this stage due to the need for both Institutions to obtain agreement to the terms. The negotiators feel that the next stage should be a detailed Memorandum of Agreement setting out the solution to those issues which must be settled prior to the merger. It is from that document that both Institutions should agree to merge and from the same document that the Revised Charter and Bye Laws will be prepared. The timetable for merger will be dependent on the speed with which the above actions can be carried out. There will subsequently be the time to progress the Revised Charter and Bye Laws with other interested parties and through the Privy Council.