(Excerpt from our Royal Charter).
The first Chartered Body was established in 1231 and less than 1,000 Royal Charters have been granted since this
time. Royal Charters are granted by the Privy Council office, but what is the Privy Council?
The Privy Council is a formal body of advisors to the Sovereign in the United Kingdom. Its members normally consist of senior politicians who are (or have been) members of either the House of Commons or the House of Lords.
Charters are now granted very rarely and are normally reserved for bodies that work in the public interest (such as professional institutions and charities).
Our governing documents are our
Royal Charter, bye-law and regulations (The Constitution). Amendments to our Charter can be made only with the agreement of The Queen in Council, and amendments to our bye-laws require the approval of the Privy Council.
Code of professional standards 2012