PROPOSED CHANGES TO CLUB RULES FOR APPROVAL BY MEMBERS AT APRIL 2024 AGM
The Club is a Registered Society under the Co-operative and Community Benefit Societies Act 2014. Certain updates are required to the Club Rules in order to comply fully with the Act. Currently:
- Rule 5 gives the Club powers to borrow money but does not specify a limit on the amount that could be borrowed
- Rule 11 does not include a provision for the transfer of assets following the death or bankruptcy of a member
- Rule 19 does not make clear that, notwithstanding the creation of Committees and Advisory Groups, the Board retains ultimate authority to make decisions.
Consequently, the Rules have been updated to address these matters as follows.
- Rule 5 now states that "the total amount borrowed at any one time shall not exceed the consolidated turnover received by the Club over the previous three financial years". Note that the Club has no current plans to borrow money and unless / until it owns any physical assets to offer as security for a loan, it is unlikely that borrowing money will be financially viable.
- Rule 11 now contains provisions for the property of a deceased or bankrupt member to be transferred. Note that the only property in the Club owned by a member is a single share with nominal value of £1.00.
- Rule 19 now makes clear that the Board retains ultimate responsibility for the composition of such Committees and Advisory Groups and for decisions taken by them.
The Members will be asked to approve the updated Rules that reflect these changes at the 2024 AGM. No Rule changes are being made other than for the purposes of ensuring compliance with the Act.
Any individual or affiliate member unable to attend the AGM but who wishes to vote on the resolution is entitled to request the Chair to act as their proxy. If you wish to do so, please email [email protected] with your name, membership number and your instruction to the Chair no later than 5pm on Monday 8 April 2024.
The full set of proposed Club Rules incorporating the above proposals can be found HERE
The existing Club Rules, as approved by members at the 2023 AGM can be found HERE
