Founded in 1845, by the support of Prince Albert and the Parliament, Imperial College London is one of the premier institutions to study in UK. It was established by the Royal College of Chemistry that merged in 1853 to be known as the Royal School of Mines. In 1907, Edward VII granted a Royal Charter that led to the formation of the Imperial College of Science and Technology which incorporated the Royal School of Mines and the Royal College of Science. Further provisions were made for the City and Guilds College to join once conditions regarding its governance were met. Finally in 2003, Imperial was granted degree-awarding powers in its own right by the Privy Council. In 2004, the Imperial College Business School was established through Queen Elizabeth II. Imperial College London has been accredited by ACU, Association of MBAs, European Universities Association (EUA), G5 Global Alliance of Technological Universities, the Russell Group and Science and Engineering South (SES).