has been mandatory for election to the lord mayoralty. Two sheriffs are selected annually by Common Hall, which meets on Midsummer's Day for this purpose. By an ordinance of 1435, the lord mayor must be chosen from amongst the aldermen of the City of London. Those on the electoral roll of each of the City's 25 wards select one alderman, who formerly held office for life or until resignation. Now each alderman must submit for re-election at least once in every six years. The lord mayor is then sworn in November, on the day before the Lord Mayor's Show (see below). The ceremony is known as the "Silent Ceremony" because, aside from a short declaration by the incoming Lord Mayor, no speeches are made. At Guildhall, the outgoing lord mayor transfers the mayoral insignia – the seal, the purse, the sword and the mace — to the incoming lord mayor. The lord mayor to be elected in November 2017 was known in April of that year. Lord Mayor's Show The day after being sworn into office, the lord mayor leads a procession from the City of London to the Royal Courts of Justice in the City of Westminster, where the lord mayor swears allegiance to the Crown. This pageantry has evolved into one of London's longest-running and most popular annual events, known as the "Lord Mayor's Show". The lord mayor travels in the City's state coach that was built in 1757 at a cost of £1,065.0s.3d. Nowadays, this festival combines traditional British pageantry with the element of carnival, and since 1959 it has been held on the second Saturday in November. Participants include the livery companies, bands and members of the military, charities and schools. In the evening, a fireworks display is held. Role The lord mayor is a member of the City of London's governing body, the City of London Corporation (incorporated as The Mayor and Commonalty and Citizens of the City of London). The Corporation comprises the Court of Aldermen and the Court of Common Council; the former includes only the aldermen, while the latter includes both aldermen and common councilmen. The Lord mayor belongs to and presides over both bodies. As noted earlier, the main role of the lord mayor is to represent, support and promote all aspects of UK-financial service industries, including maritime. They undertake this as head of the City of London Corporation and, during