Y Gofrestr Elusennau - Y Comisiwn Elusennau SECURITIES AND INVESTMENT INSTITUTE

MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED 10 FEBRUARY 1992 AS AMENDED BY SPECIAL RESOLUTIONS DATED 5 APRIL 1994, 4 JULY 1996, 1 JULY 1999, 13 DECEMBER 2001 AND 25 JULY 2002

1) TO PROMOTE FOR THE PUBLIC BENEFIT THE ADVANCEMENT AND DISSEMINATION OF KNOWLEDGE IN THE FIELD OF SECURITIES AND INVESTMENTS. 2) TO DEVELOP HIGH ETHICAL STANDARDS FOR PRACTITIONERS IN SECURITIES AND INVESTMENTS AND TO PROMOTE SUCH STANDARDS IN THE UNITED KINGDOM AND OVERSEAS. 3) TO ACT AS AN AUTHORITATIVE BODY FOR THE PURPOSE OF CONSULTATION AND RESEARCH IN MATTERS OF EDUCATIONAL OR PUBLIC INTEREST CONCERNING INVESTMENT IN SECURITIES.

NOT DEFINED

THE CHARTERED INSTITUTE FOR SECURITIES AND INVESTMENT