The guide to the profession on this subject first appeared in the Faculty Year Book for 1975-76 and it was discussed at our sessional meeting in February 1976 (and at the Institute's sessional meeting in January 1976). In the time since these meetings there have been changes in the guide and additions to it. No doubt future changes in business conditions in the years ahead will bring forth further amendments. The reasons for devoting another sessional meeting to it at this time are, firstly, to review the manner of its production and to consider what weight it carries, and, secondly, to give members the opportunity of considering the detailed wording of the guide, as distinct from its general intention. The analogy that comes to mind is with an Act of Parliament. The Bill is prepared in a department of government, is drawn up with care and professional skill by parliamentary draftsmen, and receives two readings before the House of Commons when its general aims and intentions are approved: it then moves into the committee stage where, if time permits, every clause is gone over individually to see that it expresses clearly and unambiguously the intention of parliament. It then has its third reading and, if approved, may be expected to go on to become law. The sessional meetings here and in London in 1976 correspond in this analogy to the first two readings of the Bill, and they showed that the intention of the guide and its general terms had the approval of the profession.