The management of PRI and the practical fulfilment of its objects as declared in the Memorandum and Articles of Association and in its Accession Agreement shall be the responsibility of the PRI Board of Directors ("the Board"). The board responsibilities are; (i) Study any matter affecting the welfare of PRI as a whole (including its objects, rules and policies) and make recommendations thereon to the Member Firms for consideration and approval at a General Meeting or otherwise in accordance with the Accession Agreement. (ii) Establish a board of members and the relevant committees as it may deem appropriate, settle their respective terms of reference and invite representatives from Member Firms (whether or not members of the Board) to serve on such Committees. Such Committees shall be responsible to the Board, (iii) To elect a Vice President who shall be a Partner or Director of a Member Firm within one of the Constituencies lettered A,B,C,D and E, in the Fourth Appendix, to hold office from the conclusion of each Annual General Meeting until the conclusion of the next. (iv) To admit new member firm The Board of directors shall be comprised of the CEO and the other legally appointed directors in accordance with the UK relevant companies Act.