Club 1872 Article of Association latest

[BEARGER 1,829]

Vote on adopting new Articles of Association for Club 1872

Dear Member,

 

As members are aware, the process of obtaining sign off on our revised Articles of Association is proving more protracted than we had hoped.

 

Our CIC has been an outstanding success and the Regulator has made it clear she needs time to fully consider the changes and ensure what we are proposing fits the bill. We have been seeking an indication as to when we will hear back but this has not been forthcoming.

 

Accordingly, in order to avoid any further delay in the election process, we recommend that members vote now on whether or not to approve the attached Articles. These have been updated somewhat from the draft previously presented to accord with some initial comments from the Regulator and to reflect feedback received at the Members’ consultation and via email.

 

If members vote in favour of adoption of the Articles, we will proceed with Board elections on the basis set out in the Articles.

 

If approved, we will seek the Regulator’s agreement to the adoption of the Articles. If she agrees, the Articles will be adopted. If the Regulator requires any substantive changes, we will ask members to vote again before adopting such changes.

 

We think this offers a pragmatic way through our current issue and we are keen to come up with a solution which avoids further delay to the elections. As we have no idea when the Regulator will revert to us, it is possible we may hear from her whilst this matter is out to vote. If that occurs, we shall advise accordingly.

 

To view the proposed Articles of Association please click here. To vote, please log into your Club 1872 account, click on "My Club 1872" and then click on "Surveys".

 

Voting closes at midnight on Friday 29th September.

 

Club 1872