Model
Constitution
for LETS Groups
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NB Work in Progress as at January 2010.
NB This is for groups who are independent
but "affiliated to" or "members of" LETSlink
UK. A case could be made for new groups being set up by LETSlink
UK having a different style of constitution, at least to begin
with, until they are fully fledged - this is where the idea
of a Steering Group comes in. Those which are more like a
social enterprise would have more "ownership" and
less "democracy". In all cases, in addition to a
Constitution there will be a Members' Agreement or Rules.
The general idea is to have a fairly static model constitution,
and a set of Rules which will vary considerably in detail
from group to group.
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| Why have a Constitution?
A constitution sets out the basis of the organisation, and ensures
that it can continue to exist if for whatever reasons the founder/s
are no longer in a position to continue, because it enables
tasks to be passed from one office-holder to another. This is
essential because of the investment of time and effort by the
members. In addition, the constitution ensures that any monies
taken by way of subscriptions are held in an account for the
group as a whole, and do not disappear unaccountably into the
pockets of individuals. Constitutions can seem boring and are
not needed when things are going well, but if things go wrong,
they set out the ways in which members can rectify matters.
To summarise: the constitution spells out that the LETS belongs
to the members as a whole, not just to the individuals who are
running it. |
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ORIGINAL
from Infopack (1998)
NB In some places the ordering has been
altered to conform to the later recommended version, but the
original numbering has been retained, for reference purposes.
Where a phrase or clause has been removed
from a later draft, it is shown in blue.
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EXTENDED VERSION - DRAFT at January 2009
- this is based on the original with additions,
some of which are indicated by the use of blue
text. Clauses which have been dropped from the original
constitution are indicated by blue text
in the first column. Where the reason for the alteration is
not self-explanatory, a note is added in
red which is not intended to be part of the eventual
text of the constitution.
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UPDATED VERSION
DRAFT at December 2008
- this is based on the original with additions
but some of the original content has either been cut down
or moved to the Members' Agreement (Rules), the idea being
to make the constitution more flexible
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1. NAME
The name of the organisation is _________
LETS, referred to as the LETS in this Constitution.
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1. NAME
The name of the organisation is ____ LETS, also referred to
as "the LETS" or "the scheme"
in this Constitution.
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1. NAME
The name of the organisation is ____ LETS, also referred to
as "the LETS", "the scheme" or "the organisation"
in this Constitution.
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2. AIMS & OBJECTIVES
2.1 To develop and encourage the experience
of community in __________ through
the establishment of a LETS scheme.
2.2 To stimulate the creation of practical,
educational and social benefits by and for its members and
the people of the locality of __________.
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2. AIMS & OBJECTIVES
2.1 To develop and encourage the experience of community
and sustainability through the establishment of a Local
Exchange Trading Scheme.
2.2 To stimulate the creation of practical,
educational and social benefits by and for its members and
the people of the community of
________ (this enables LETS to serve
communities of interest as well as locality).
2.3 To contribute to the
development and knowledge of how to manage LETS successfully.
2.4 To support the principles
and practices of mutuality, kindnessm co-operation, and innovation.
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2. AIMS & OBJECTIVES
2.1 To develop and encourage the experience
of community, sustainability and innovation
through the maintenance of a Local Exchange Trading
Scheme.
2.1 To stimulate the creation of practical,
educational and social benefits by and for its members amongst
its members and the people in the community
of ________ (this enables LETS to
serve communities of interest as well as locality).
2.3 To contribute to the knowledge and development
and of how to manage LETS successfully.
2.4 To support the principles and practices
of mutuality, kindness and co-operation
- see The International
Co-operative Alliance's Statement of the Co-operative Identity
(first published at Manchester in the UK in 1995)
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3. MEMBERSHIP
3.1 Membership of the LETS shall be open
without prejudice to any individual or organisation sympathetic
to the aims of the scheme, subject to any restrictions or
conditions that may be applied by the Management Group.
3.2 Membership shall be dependent on (a)
the payment of membership fees, renewable annually or otherwise
at the discretion of the Management (Organising) Group; and
(b) by the applicant’s endorsement of the LETS Rules
and Constitution.
3.3 The LETS follows an equal opportunities
policy and does not discriminate on the basis of age, gender,
culture or race. It is non-sectarian and non-party political
and will not affiliate to any party political organisation.
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3. MEMBERSHIP
3.1 Membership of The LETS shall be open without prejudice
to any individual or organisation sympathetic to the aims
of the scheme, subject to any restrictions or conditions that
may be applied by the Management Group.
3.2 Membership shall be dependent on (a)
the payment of membership fees, renewable annually or otherwise
at the discretion of the Management Group, who
may set the fee on a sliding scale, starting at zero; and
(b) by the applicant's endorsement of the LETS Rules
and Constitution.
3.3 The LETS follows an equal opportunities
policy and does not discriminate on the basis of age, ability,
gender, orientation, culture, race or
wealth. It is non-sectarian and non-party political
and will not affiliate to any party political organisation.
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3. MEMBERSHIP
3.1 Membership of the LETS shall be open without prejudice
to all individuals and organisations sympathetic to the aims
of the scheme, subject to any restrictions or conditions that
may be applied by the Management Group.
3.2 Membership shall be dependent on (a)
the payment of membership fees, at the current rate, which
may be a sliding scale starting from zero, and which are renewable
annually or otherwise at the discretion of the Management
Committee, and (b) by the applicant's endorsement of this
Constitution and the Rules of
the scheme.
3.3 The organisation follows an equal opportunities
policy and does not discriminate on the basis of age, ability,
gender, orientation, culture, race or wealth. It is non-sectarian
and non-party political and will not affiliate to any party
political organisation.
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4. LEGAL STATUS
4.1 The LETS is an unincorporated members’
club of people willing to trade amongst themselves.
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4. LEGAL STATUS
4.1 The LETS is an unincorporated members' club of people
willing to trade amongst themselves.
4.2 The LETS is a member
of LETSlink UK, and is committed to both contributing to,
and abiding by, its guidelines.
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4. LEGAL STATUS
4.1 The LETS is an unincorporated members' club of people
willing to trade amongst themselves.
4.2 The LETS is a member
of LETSlink UK, and is committed to both contributing to,
and abiding by, its guidelines.
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5. ORGANISATIONAL BASIS
5.1 The rights and authority of the LETS
are vested in all members, who delegate that authority to
a MANAGEMENT (ORGANISING)
GROUP to act on their behalf.
(a) The Management Group is responsible
for ensuring that the tasks of running the LETS are effectively
carried out.
(b) The Management Group includes all
those who have taken on the tasks of running the LETS, and
especially the coordinator, accountant, treasurer, directory
producer, membership secretary and fundraiser.
(c) Only members of the LETS can join the Management Group.
5.4 THE FIRST COMMITTEE of the scheme
shall consist of the initiating group members. They agree
the appointment of members to the first committee; signatories
to any sterling bank account and the name of the bank used;
the name and value of the LETS unit; adoption of the LETS
rules and constitution; and will arrange and publicise to
all members a first AGM within 12 months of their first meeting.
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5. ORGANISATIONAL BASIS
5.1 The rights and authority of The LETS
are vested in all members, who delegate that authority to
a MANAGEMENT GROUP to act on their behalf.
5.2 The Management Group is responsible
for ensuring that the tasks of running the LETS are effectively
carried out.
(b) The Management
Group includes all those who have taken on the tasks of running
the LETS, especially the coordinator, accountant, treasurer,
directory editor, membership secretary and fundraiser.
(c) Only members of the LETS can join the
Management Group.
5.3 The Management of the LETS is initially
carried out by a Steering Group or First Committee
consisting of the initiating group members. They agree whether
to set up a bank account, at which bank, the signatories;
the name and value of the LETS unit; and adoption of the LETS
rules and constitution; and they arrange and publicise to
all members a first Annual General Meeting within twelve months
of their first meeting, at which they arrange for a Management
Group to be elected by the members of the scheme. Members
of the Steering Committee are not barred from being elected
to the Management Group.
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5. ORGANISATIONAL BASIS
5.1 The rights and authority of the organisation
is vested in all members, who delegate that authority to a
Management Committee drawn from amongst the membership (called
the Management Group, Co-ordinating Group, Core Group etc)
who ensure that the tasks of running the scheme are effectively
carried out, following LETSlink's current Organisational
Guidelines.
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7. FUNCTIONS OF THE LETS MANAGEMENT GROUP
7.1 The Management /Organising Group undertakes
the executive management of the
scheme, apportioning such roles and functions (for guidance
see “Tasks of Running a LETS” in the LETS Info Pack)
as necessary to maintain the scheme in the interests of the
membership as a whole, including:
(a) Maintaining an up-to-date list of all
members
(b) Recording accurately members’ transactions
and supplying accounts
(c) Publishing directories
(d) Communicating with the membership and
taking note of their opinions
(e) Maintaining the financial viability of
the scheme.
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7. FUNCTIONS OF THE Management Group
7.1 The Management Group undertakes the executive management
of the scheme, apportioning such roles and functions amongst
its membership, as are necessary to maintain the scheme in
the interests of the membership as a whole including:
(a) Maintaining an up-to-date list of all
members
(b) Recording accurately members' transactions
and supplying accounts
(c) Publishing directories
(d) Communicating with the membership and
taking note of their opinions
(e) Organsing social
events for members, plus public meetings and other outreach
efforts, to ensure that good connections are maintained with
the local community.
(f) Maintaining the financial viability of
the LETS in terms of both national and
local currency
(g) Using
appropriate tools, including software, to maintain maximum
efficiency in carrying out the above tasks.
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7. FUNCTIONS OF THE Management Committee
7.1.The Management Group undertakes the Executive
Management of the Scheme, apportioning such roles and functions
amongst the membership of the scheme as are necessary to maintain
the scheme in the interests of the membership as a whole including
(a) Maintaining an up to date list of all
members,
(b) Recording accurately members' transactions
and supplying accounts,
(c) Publishing Directories,
(d) Communicating with the membership and
taking note of their opinions and
(e) Maintaining the financial viability
of the scheme.
7.2 Where appropriate they
may appoint individuals to carry out, under their direction,
tasks such as Administration, Project Co-ordination, Local
Organisation, Member Support & Training, and other functions
as needed.
7.3 The Management Committee
may establish sub-committees to cover the above tasks if they
grow beyond the scope of individuals, in addition to others
such as Advice and Mediation.
7.4 Where they have been
established, these sub-committees will have at least one representative
on the Management Committee, to whom they will regularly provide
reports on their activities.
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5.2 AN ADVISORY GROUP is
initiated by the members, or otherwise by the Management Group.
Its functions are as follows:
(a) To oversee and advise the Management
Group on the organisation and development of the scheme as
a whole.
(b) To feed back information and advice on
the management, organisation and direction of the scheme between
the members and the management group.
(c) To act as a member liaison and support
group, presenting the proposals, opinions, advice and complaints
of any members who may be unable to speak directly to the
Management Group.
(d) It is composed of LETS members who are
not presently carrying out the regular tasks of running the
LETS.
(e) It may also include
advisors who are not members of the scheme.
(f) At least one Advisory Group member will
normally attend regular Management Group meetings.
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7.2 An Advisory
Group, consisting of members other than those involved
in the day-to-day management of the scheme, is
initiated by the Management Group drawing from
the existing membership, and/or by inviting
well-connected persons of good standing in the community to
join the scheme. Its functions are:
(a) to advise on the management, organisation
and direction of the scheme.
(b) To act as a member liaison and support
group, presenting the proposals, opinions, advice and complaints
of any members who may feel unable to speak directly to the
Management Group.
(c) At least one Advisory Group member will
normally attend regular Management Group meetings, and report
to other members of the group any matters of concern.
(d) The Advisory group will also advise on
outreach to local and national organisations.
(f) At least one Advisory Group member will
normally attend regular Management Group meetings.
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5.3 A MEDIATION
GROUP
(a) To ensure the accountability of the Management Group to
the membership.
(b) To adjudicate in any cases of dispute between members, or
between members and the Management Group.
The group consists of at least two (ideally three) people, who
may also be members of the Advisory Group. They will meet from
time to time as necessary. Management Group meetings will also
normally be attended by one Mediator. |
7.3 A Mediation
Group may be set up
to adjudicate in any cases of dispute between members, or
between members and the Management Group.
The group consists of at least two (ideally
three) people. They will meet from time to time as necessary.
Management Group meetings will also normally be attended by
one member of the Mediation Group.
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7.4
One or more Administrators may be appointed by the Management
Group in order to carry out the administrative and technical
work necessary to run a scheme, especially if it increases in
size. These individuals will report to and advise the Management
Group, with an appropriate job description, and in turn they
will form a co-operative working group, sharing tasks as appropriate. |
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7.5 Local Organisers
may be appointed by the Management Group in order to delegate
some of the work of membership across a wider geographical
area. These individuals will report to the Management Group,
with a multi-tasking job description, and in turn they may
be authorised to form a working group around them to delegate
tasks, as the volume of membership grows.
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7.6 Project Administrators may be
appointed by the Management Group in order to manage particular
areas of activity, and supervise the disbursement of local
currency to reward voluntary activity on the project. These
individuals will report to the Management Group at regular
intervals, and in turn they may be authorised to form a working
group around them to delegate tasks, as the project develops.
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8. MANAGEMENT GROUP MEETINGS
8.1 The Management Group shall arrange and
determine the timing and frequency of its meetings. This will
normally be at least every 3 months, and more frequently at
the outset.
8.2 The Group shall publicise its meetings
in advance to all members, normally through the regular LETS
mailing or newsletter.
8.3 The Group shall keep a record of all
its meetings, and make these available to all members, normally
in the regular mailings.
8.4 Group meetings are open for any member
to attend and make a contribution.
8.5 The quorum shall be a majority or,
5 members of the Group, whichever is larger.
8.6 Any Group member who is absent from 3
consecutive meetings without good reason or notice shall be
deemed to have resigned their position, and if deemed so shall
be notified to that effect.
8.7 The Group may co-opt new members onto
the Group, given the consent by majority vote of the group.
Members so appointed hold office only until the following
AGM, but are eligible for re-election at the meeting. Members
may also be appointed for a shorter trial period.
8.8 Any Group member may be dismissed by
a three-quarters majority vote of the entire Group, for reasons
of mismanagement or gross misconduct.
8.9 At least on member of the Advisory Group
and one Mediator shall also normally be present and empowered
to vote at Group meetings.
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8. Management Group MEETINGS
8.1 The Management Group shall arrange and determine the timing
and frequency of its meetings. This will normally be at least
every three months, and more frequently at the outset.
8.2 The Group shall publicise its meetings
in advance to all members.
8.3 The Group shall keep a record of all
its meetings, and make these available to all members.
8.4 Group meetings are open for any member
to attend and make a contribution.
8.5 The quorum shall be a majority or five
members of the Group, whichever is larger.
8.6 Any Group member who is absent from three
consecutive meetings without good reason or notice will be
deemed to have resigned their position, and if so deemed,
shall be notified to that effect.
8.7 The Group may co-opt new members onto
the Group, given the consent by majority vote of the group.
Members so appointed hold office only until the following
AGM, but are eligible for re-election at the meeting. Members
may also be appointed for a shorter trial period.
8.8 Any Group member may be dismissed by
a three-quarters majority vote of the entire Group, for reasons
of mismanagement or gross misconduct.
8.9 At least one member of the Advisory Group
and one Mediator shall also normally be present and empowered
to vote at Group meetings.
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8. Management Committee MEETINGS
8.1 The Management
Committee will establish a sustainable schedule of meetings,
and publish dates to members so that they can make an input
where appropriate.
8.2 They will also set up
communication systems which allow discussions to take place
between meetings, agendas to be set in advance, and reports
to be provided to members on an ongoing basis.
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6. DECISION MAKING PROCESSES
6.1 Membership entitles each holder to one
vote at general meetings.
6.2 The members at the AGM shall appoint
a Management Group, an Advisory Group, and Mediators.
6.3 Nominations for membership of the Management,
Advisory and Mediation Groups are invited before the start
of the AGM. Any member in good standing is eligible for election
at the AGM.
6.4 Consensus vote shall be preferred means
of decision-making. (The exact method of election shall be
determined by the first committee for the first AGM, thereafter
by the Management Group).
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6. DECISION MAKING PROCESSES
6.1 Membership entitles each holder to one vote at general
meetings.
6.2 The members at the AGM shall appoint
a Management Group, and such other posts,
or sub-committees have been established, to serve for the
period until the next AGM.
6.3 Nominations for membership of the Management,
Advisory and Mediation Groups are invited before the start
of the AGM. Any member in good standing is eligible for election
at the AGM.
6.4 Consensus shall be preferred means of
decision-making, failing which votes are taken. (The exact
method of election shall be determined by the Steering Committee
for the first AGM, thereafter by the Management Group).
6.5 Members of the Management
Committee will agree amongst themselves what decisions may
be made in the course of carrying out their normal duties,
and which shall be subject to a group decision, and which
should be referred to the membership as a whole, if not already
provided for in this constitution.
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6. DECISION MAKING PROCESSES
6.1. Membership of
the scheme entitles each holder to one vote at General Meetings.
6.2. The members at
the AGM shall appoint a Management Committee
6.3. Nominations for
membership of the Management Committee are invited before
the start of the AGM. Any member in good standing is eligible
for election at the AGM.
6.4. Consensus shall be the preferred means
of decision-making, failing which votes are to be taken.
6.5 Members of the Management
Committee will agree amongst themselves what decisions may
be made in the course of carrying out their normal duties,
and which shall be subject to a group decision, and which
should be referred to the membership as a whole, if not already
provided for in this constitution.
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9. GENERAL MEETINGS
9.1 The Management Group shall organise an
Annual General Meeting once in every calendar year.
9.2 The Group shall arrange General Meetings
(including Extraordinary General Meetings) at either the request
of their own meeting, or at the request of at least four members
of the scheme.
9.3 Fourteen days notice of each General
Meeting, or seven days notice of an Extraordinary General
Meeting, shall be given to members.
9.4 Membership entitles each individual holder
to vote at any General Meeting. In the case of organisation
memberships, no extra voting right is given to the organisation.
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9. GENERAL MEETINGS
9.1 The Management Group shall organise an Annual General
Meeting once in every calendar year.
9.2 The Group shall arrange General Meetings
(including Extraordinary General Meetings) at either the request
of their own meeting, or at the request of at least four members
of the scheme.
9.3 Fourteen days notice of each General
Meeting, or seven days notice of an Extraordinary General
Meeting, shall be given to members, together
with the main agenda item and an invitation to submit further
items for the agenda..
9.4 Membership entitles each individual holder
to vote at any General Meeting. In the case of organisational
memberships, the vote is no extra voting right is given to
the organisation, and their vote is
conveyed by a single representative.
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9. GENERAL MEETINGS
9.1 The Management Committee will organise an Annual General
Meeting (AGM) once in every calendar year.
9.2 They may also
organise Extraordinary General Meetings, at either the request
of their own meeting, or at the request of at least four members
of the scheme.
9.3 Fourteen days
notice of an AGM, or seven days notice of an EGM should be
given to members, together with the main agenda item and an
invitation to submit further items for the agenda.
9.4 The quorum for
such meetings will be at least two thirds of the Management
Committee and five other members.
9.5 The AGM will receive
collective or individual reports from members of the Management
Committee, will discuss items which have been placed on the
agenda and any other matters arising, and will appoint individuals
from amongst the membership to serve on the Management Committee
and any other established sub-committees for the next year.
9.7 In exceptional
circumstances, elections may be carried out at an EGM.
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10. FINANCE
10.1 Any monies received shall be paid into
the LETS account of the ____ branch
of the ____ bank (or at such bank as the Management
Group shall decide from time to time and in accordance with
instructions from a general meeting).
10.2 Any monies received or paid out in the
name of the LETS shall be paid into or from the LETS account.
The Management Group shall decided from time to time which
signatories can be accepted for financial transactions with
the bank.
10.3 No member shall derive any sterling
financial benefit from the scheme, other than the payment
of reasonable expenses.
10.4 Members can be paid reasonable wages
in LETS units for administrative work carried out in agreement
with the Management Group (and in line with the LETS budget).
10.5 Any Management Group member who carries
out an agreed activity on behalf of the scheme will not be
held personally liable for reasonable debts, and will be entitled
to be indemnified from the LETS funds provided that such payment
is agreed in advance and that no payment shall be made, or
obligation entered into, which cannot be met from the balance
of funds held by the LETS.
10.6 A copy of the most recent statements
of accounts (in both the sterling and the LETS accounts) shall
be made available to any member on request, and an annual
statement of both accounts shall be presented at each AGM.
10.7 _________ LETS is a
not-for-profit organisation. Any surplus funds over and above
the running costs and development costs of the scheme will
be directed to the _________ LETS Community Fund.
10.8 Decision-making on the
uses of the _________ LETS Community Fund will be subject
to consultation with the members at a meeting, publicised
to all members in advance. Members may vote in person or by
proxy. Decision-making will be by majority vote, and will
include the votes of all members of the Management, Advisory
and Mediation Groups.
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10. FINANCE
10.1 Any monies received in the name of ____ LETS shall be
held in an account at such bank as the Management Group shall
decide from time to time and in accordance with instructions
from a general meeting. The Management Group shall decided
from time to time which signatories can be accepted for financial
transactions with the bank.
10.2 ____ LETS is a not-for-profit organisation.
No member shall derive any sterling financial benefit from
the scheme, other than the payment of reasonable expenses.
10.3 Any Management Group member who carries
out an activity on behalf of the scheme will not be held personally
liable for reasonable debts, and will be entitled to be indemnified
from ____ LETS funds provided that such payment is in accordance
with accepted practice or rules of thumb, and that no payment
shall be made, or obligation entered into, which cannot be
met from the balance of funds held by the scheme. Payments
from ____ LETS funds for special activities or projects will
normally be agreed by the Management Group in advance, and
exceptionally may be approved retrospectively.
10.4 A copy of the most recent statements
of accounts (in both the sterling and LETS accounts) shall
be made available at Management Group meetings, to any member
on request, and an annual statement of both accounts shall
be presented at each AGM.
10.5 Annual membership fees
to LETSlink UK will be paid out of the ____ LETS account at
the rates currently set by the national organisation, which
may include a tithing of membership fees.
10.6 Members can be paid reasonable wages
in LETS units for administrative work carried out in agreement
with the Management Group (and in line with the LETS budget).
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10. FINANCE
10.1 Any monies received in the name of the LETS shall be
held in an account at such bank, and with such signatories,
as the Management Committee shall decide from time to time
and in accordance with instructions from a general meeting.
10.2 The LETS is a not-for-profit organisation.
No member shall derive any sterling financial benefit from
the scheme, other than the payment of reasonable expenses.
10.3 Any member who carries out an activity
on behalf of the LETS will not be held personally liable for
reasonable debts, and will be entitled to be refunded from
the funds of the organisation provided that such payment is
in accordance with accepted practice, and that no payment
shall be made, or obligation entered into, which cannot be
met from the balance of funds held by the organisation. Payments
from funds for special activities or projects will normally
be agreed by the management in advance, and exceptionally
may be approved retrospectively.
10.4 A copy of the most recent statements
of accounts (in both the sterling and LETS accounts) shall
be made available at Management Group meetings, to any member
on request, and an annual statement of both accounts shall
be presented at each AGM.
10.5 Annual membership fees to LETSlink UK,
and any other groups to which the scheme is affiliated, will
be paid out of the organisation's sterling account at the
rates currently set by the national organisation, which may
include a tithing of overall sterling income.
10.6 Members can be paid reasonable wages
in LETS units for administrative work carried out in agreement
with the Management Committee (and in line with the budget).
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11. CHANGES TO THE CONSTITUTION
11.1 Any changes to this constitution can
only be made by a 3/4 majority vote at an Annual General Meeting.
The quorum for such a meeting will be at least 2/3rds of the
Management Group and 5 other members. Notices giving full
details of the proposed changes shall be posted to all members
at least 14 days before the meeting.
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11. CHANGES TO
THE CONSTITUTION
11.1 Any changes to this constitution can only be made by a
three quarters majority vote at an Annual General Meeting. The
quorum for such a meeting will be at least two thirds of the
Management Group and five other members. Notices giving full
details of the proposed changes shall be posted to all members
at least fourteen days before the meeting.
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11. CHANGES TO THE CONSTITUTION
11.1 Proposed changes to this constitution can only be made
by a three quarters majority vote at an Annual General Meeting.
Notices giving full details of the proposed changes shall
be posted to all members at least fourteen days before the
meeting.
11.2 Any proposed changes
to this constitution will be submitted in advance of the AGM
to LETSlink UK in order to assist in uniformity of practice
across the LETS community.
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12. WINDING UP
12.1 The LETS can only be wound up after
a democratic consultation process with all the members. A
questionnaire will firstly be circulated to all members inviting
feedback, and nominations for the various management roles.
At least one month thereafter, a notice of an extraordinary
general meeting will be sent to all members at least three
weeks before it is held. The notice will invite all members
to attend to discuss ways of enabling the scheme to continue,
and encourage members to come forward as candidates for the
various management roles.
12.2 Following the extraordinary general
meeting, voting papers will be sent to all members to decide
the future of the scheme. The scheme can only be wound up
by a 2/3rds majority vote of the membership by ballot, the
results of which shall be available at a further General Meeting.
At least 2/3rds of the Management Group and 5 other members
shall attend. A notice giving full details will have been
posted to all members at least 14 days before the meeting.
12.3 If the LETS is to be wound up, those
members with accounts in debit to a significant extent (the
amount to be decided by consensus at the meeting) will be
given a reasonable period of time in which to repay the bulk
of their debit to the membership. Members whose balances are
significantly in credit will be identified and efforts made
to assist them in balancing their accounts.
At the end of this period, the names of any
members with large outstanding debts will be made known to
the members.
12.4 After settling all sterling debts and
obligations, any remaining property shall be transferred to
an organisation with an ethical track record, to be decided
at the meeting.
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12. WINDING UP
12.1 The LETS can only be wound up after a democratic consultation
process with all the members. A questionnaire will firstly
be circulated to all members inviting feedback, and nominations
for the various management roles. At least one month thereafter,
a notice of an extraordinary general meeting will be sent
to all members at least three weeks before it is held. The
notice will invite all members to attend to discuss ways of
enabling the scheme to continue, and encourage members to
come forward as candidates for the various management roles.
12.2 Following the extraordinary general
meeting, voting papers will be sent to all members to decide
the future of the scheme. The scheme can only be wound up
by a two thirds majority vote of the membership by ballot,
the results of which shall be available at a further General
Meeting. At least two thirds of the Management Group and five
other members shall attend. A notice giving full details will
have been posted to all members at least fourteen days before
the meeting.
12.3 If the LETS is to be wound up, those
members with accounts in debit to a significant extent (the
amount to be decided by consensus at the meeting) will be
given a reasonable period of time in which to repay the bulk
of their debit to the membership. Members whose balances are
significantly in credit will be identified and efforts made
to assist them in balancing their accounts. At the end of
this period, the names of any members with large outstanding
debts will be made known to the members.
12.4 Details of all individual
account-holders and their remaining balances will then be
provided to LETSlink UK, who will transfer them to existing
LETS organisations of the members' choice, or hold them in
a regional membership pool, pending a new organisation being
established with LETSlink UK's technical support.
12.5 After settling all sterling
debts and obligations, any remaining property shall be transferred
to LETSlink UK, or in the absence of this organisation, to
its successor organisation, failing which another organisation
with similar aims.
Now, check out the Rules
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12. WINDING UP
12.1 Given that the LETS includes an accounting procedure
to record trading amongst members, which represent accumulated
value intended to continue into the future, winding up will
only be considered as a last resort. In the first instance,
support and advice will be sought from neighbouring groups,
directly or via the regional or national network.
12.2 Having done this, internal procedures
such as calling an EGM will be carried out in order to draw
the attention of the membership as a whole to the problems
being experienced by the Management Committee. If the meeting
fails to draw a quorum and/or the problems still cannot be
resolved, and the LETS appears to be unsustainable or in need
of support, remaining members will request LETSlink UK for
a consultancy visit, for more detailed advice.
12.3 Following consultation with LETSlink
UK, if the scheme cannot be sustained from its own resources,
the national organisation will make arrangements to have the
accounts taken over by or merged with those of neighbouring
schemes, and will hold data and property in the interim, until
longer-term arrangements can be made.
Now, check out the Rules
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