At 22:12 +0000 11/3/07, Chris McKenna wrote:
On Sun, 11 Mar 2007, Gordon Joly wrote:
A charity board of trustees (directors of the company) is group of
volunteers by definition in the law of England and Wales.
So if somebody forms a company (limited by guarantee) which moves to
charity status, then as a Director (Trustee) you know that you will
be a volunteer, effectively from the day of incorporation. Charity
Law allows fees to be paid to Directors (Trustees) in certain (rare)
circumstances only. Expenses such as travel are allowed, of course.
As I understand it Wiki Educational Resources has not yet been granted
charity status.
That is my understanding.
IANAL, but if this is so I would have though that
Company
Law rather than Charity Law would apply?
--
Chris 'Awkward' McKenna
Indeed. But since the aim of the Company was always to become a
Charity, it would be ideal if the Directors who hoped to become
Trustees should treat themselves as Trustees from the day of
incorporation, even if they all have to resign before the Company
becomes a Charity.
A Company Limited by Guarantee does not issue shares (as I recall).
New laws (which were not in force at the time of incorporation on WER
Ltd) allow a Charity to incorporate as Company Limited by Guarantee
in one action, rather than the two stage process. In others words, on
the day of incorporation the Charity comes into being.
BTW, when will the next General Meeting be called?
Gordo