Bye Laws are rules established by an organisation or community to regulate itself, as allowed or provided for by some higher authority. In the case of the Security Professionals this higher authority is the Royal Charter, which is itself overseen by the Privy Council.
The Bye Laws must not be inconsistent with the Royal Charter.
The Royal Charter establishes the degree of control that the Bye Laws may exercise as any changes the Company wish to make to the Bye Laws have to be approved by the Privy Council. This effectively provides for a degree of regulation of the affairs of the Company, and the Privy Council will therefore wish to be satisfied that such regulation accords with public policy, and that there is some public benefit.
The first Bye Laws under the Royal Charter were approved by the Privy Council and attached as a Schedule to the Royal Charter on its approval on the 15th February 2010.
Amendments to the Company’s Bye Laws require the approval of the Privy Council (though not normally of Her Majesty The Queen). The current Bye Laws were approved by the Privy Council on 28 February 2014.