As an international, independent, non-governmental, member-based association under Belgian law, IFRRO's supreme governing body is the General Meeting of its members. There is at least one per year, usually taking place during the last week of October. It examines and approves the accounts, the annual report of the Board and the budget for the following year. It elects the Presidency, the Directors as well as the members of the Nominating Committee and the Membership Committee. It can further pass decisions on position papers or amendments to the Statutes.